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

Author

Listed:
  • Olayinka Adegbite
  • Charles L. Machethe

    (University of Pretoria)

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.

Suggested Citation

  • Olayinka Adegbite & Charles L. Machethe, 2022. "The Impact of Financial Inclusion on the Livelihoods of Rural Smallholder Farmers in Nigeria," The African Finance Journal, Africagrowth Institute, vol. 24(2), pages 38-50.
    • Handle: RePEc:afj:journl:v:24:y:2022:i:2:p:38-50
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    File URL: https://journals.co.za/doi/abs/10.10520/ejc-finj_v24_n2_a3
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    Cited by:

    1. Ajiboye, A.J & Ogunniyi, G & Agunbiade, B.O & Atoyebi, J.O & Oladepo, D, 2025. "Constraints to Livelihood Diversification Among Rural Migrants’ Households in South-Western Nigeria," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 9(8), pages 7693-7703, August.
    2. Ajiboye, A.J. & Ogunniyi, G. & Faleye, O.O. & Aruleba, S.A. & Oladepo, D., 2025. "Socioeconomic Determinants of Livelihood Income Shares of Rural Migrant Households in Southwestern Nigeria," Asian Journal of Agricultural Extension, Economics & Sociology, Asian Journal of Agricultural Extension, Economics & Sociology, vol. 43(7).

    More about this item

    Keywords

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    JEL classification:

    • Q14 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Finance

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