Financial Literacy and Sustainable Food Production in Rural Nigeria: Access and Adoption Perspectives

Benedict Ogbemudia Imhanrenialena () and Eveth Nkeiruka Nwobodo-Anyadiegwu ()
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Benedict Ogbemudia Imhanrenialena: Department of Management, Faculty of Business Administration, University of Nigeria, Nsukka 410001, Nigeria
Eveth Nkeiruka Nwobodo-Anyadiegwu: Department of Quality and Operations Management, Faculty of Engineering and the Built Environment, University of Johannesburg, Johannesburg 2028, South Africa

Sustainability, 2025, vol. 17, issue 15, 1-16

Abstract: Despite the importance of financial literacy, particularly in sustaining and improving rural agriculture, it is documented in the literature that little is known about financial literacy, particularly in rural communities in developing countries. Responding to the calls for research to address this gap, the current study investigates how financial literacy relates to access to funding, innovative service adoption, and sustainable food production among agricultural food producers in Nigeria’s rural communities. A probability sampling technique was used to draw 460 samples from registered rural farmers in the Central Bank of Nigeria’s Anchored Borrower’s Programme for food production in Edo State, Nigeria. Quantitative data were collected using a structured questionnaire. The hypotheses were tested using regression analysis, while descriptive statistics were deployed to analyse the demographic data of the respondents. The outcomes suggest that financial literacy has significant links with access to funding, innovative service adoption and sustainable food production among agricultural food producers in Nigerian rural communities. Based on the outcomes, it is concluded that financial literacy significantly influences sustainable food production in Nigerian rural communities. As such, there is a need for the Nigerian government and financial authorities to embark on a financial literacy drive to increase financial literacy, particularly in light of ever-evolving disruptive financial technologies.

Keywords: financial literacy; access to funding; formal financial service adoption; sustainable food production; rural Nigerian communities (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2025
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