Financial Inclusion and poverty alleviation in Nigeria
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Date
2019-10-02
Journal Title
Journal ISSN
Volume Title
Publisher
Leibniz Information Centre for Economics
Abstract
The study examined the impact of financial inclusion on poverty alleviation in Nigeria using time
series data for the period 2002 to 2015. The data was sourced from the World Bank indicators, 2016.
The study employed the ordinary least squares multivariate regression technique. Financial inclusion
is found to exert significant impact on per capita income, reduces poverty level and improves
standard of living. Specifically, the result shows that commercial bank branches per 100, 000 adults
exert positive impact on per capita income, increase standard of living and contributes to poverty
alleviation. Depositors with commercial banks per 1000 adults exerted a negative effect on poverty
alleviation and are not statistically significant under the reference period. Borrowers from
commercial banks per 1000 adults are found to increase per capita income and by extension poverty
alleviation and are not statistically significant. The finding also reveals that number of automated
teller machines enhanced financial inclusion, income generation and poverty alleviation and was not
statistically significant. The study recommends that the Central Bank of Nigeria needs to come up
with effective monetary policies that can influence financial inclusion and alleviation of poverty. This
will encourage accessibility to financial services at affordable cost for poverty alleviation purposes.
Description
Staff Description
Keywords
Financial Inclusion;, Poverty alleviation;, Per Capita Income;, Poverty Index;, Automated Teller Machine
Citation
Ogbeide, S.O & Igbinigie, O.O. (2019). Financial inclusion and poverty alleviation in Nigeria. Accounting and Taxation Review, 3(1): 42-54