The Impact of Financial Inclusion on the Livelihoods of Rural Smallholder Farmers in Nigeria

Olayinka Adegbite and Charles Machethe

The African Finance Journal, 2022, vol. 24, issue 2, 38-50

Abstract: This study assesses the impact of multidimensional financial inclusion on the livelihoods of smallholder farmers using the Consultative Group to Assist the Poor survey data on 2,300 rural smallholder farmers in Nigeria. Estimates from propensity score matching show that financial inclusion reduced the sole dependence of rural smallholder farmers on farm income by 37.58% but increased their engagement in both farm and non-farm income activities by 32.45%. Therefore, for policies aimed at promoting sustainable rural livelihoods and inclusive economic development, efforts to increase the financial inclusion of rural smallholder farmers should be intensified, as this strengthens the integration of farm and non-farm economic sectors.

Keywords: Financial inclusion; Livelihoods; Rural smallholder farmer; Propensity sore matching; Nigeria (search for similar items in EconPapers)
JEL-codes: Q14 (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:afj:journl:v:24:y:2022:i:2:p:38-50

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