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Financial inclusion in Nigeria: an overview

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  • Ozili, Peterson Kitakogelu

Abstract

This paper analyse the level of financial inclusion in Nigeria using data from the global findex indicators. The findings reveal that Nigeria witnessed growth in several financial inclusion indicators in the early years of financial inclusion in 2014 but the benefits were not sustained in the later years especially in 2017. Nigeria’s level of financial inclusion is very low compared to the World average. In the population group analysis, it was observed that the female, poorest, male, older and uneducated population were worse-off in all indicators of financial inclusion in 2017. The implication of the observed decline in the level of financial inclusion in 2017 suggest that there are barriers to financial inclusion in the post-2014 years.

Suggested Citation

  • Ozili, Peterson Kitakogelu, 2022. "Financial inclusion in Nigeria: an overview," MPRA Paper 113572, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:113572
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    References listed on IDEAS

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    More about this item

    Keywords

    formal account; borrowing; sustainable development; Nigeria; financial inclusion; access to finance; financial institutions; credit cards; debit cards; account ownership; female; savings.;
    All these keywords.

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
    • G29 - Financial Economics - - Financial Institutions and Services - - - Other

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