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Financial Inclusion And Poverty Reduction In Nigeria

Matthew, Oluwatoyin and Mabinuori, Oladotun T. and Bowale, Ebenezer I.K (2023) Financial Inclusion And Poverty Reduction In Nigeria. Journal of Pharmaceutical Negative Results, 14 (04). pp. 828-832.

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Financial inclusion has gained widespread acceptance among governments, academics, and watchers of the global economy as a crucial instrument for eradicating poverty, creating jobs, building wealth, and enhancing human welfare and living standards, all of which contribute to economic growth. This study's objective was to ascertain how financial inclusion impacted Nigeria's efforts to combat poverty. It looked at the empirical connection between the struggle against poverty and financial inclusion. The study uses yearly time series data from the World Development Indicators (2021) covering the years 1980 to 2020 to examine how financial inclusion affects poverty in Nigeria. The study's independent and control variables were Per Capita Income (PCI), Financial Deepening Indicator (FDI), Social Investment Loan (SIL), Loan-Deposit Ratio (LDR), and Depositors with Commercial Banks (DCB), while the dependent variable was the Poverty Index (PI). The study employed the Auto-Regressive Distributed Lag (ARDL) model to estimate how financial inclusion affects Nigerian poverty levels. According to this research, Nigeria's attempts to combat poverty are positively and significantly impacted by financial inclusion. According to the study's findings, reducing poverty in Nigeria is positively impacted by financial inclusion. These outcomes illustrated the potential contribution of financial inclusion initiatives to raising the standard of living among Nigerians. The research suggested that the Central Bank of Nigeria develop efficient monetary policies that can have an impact on financial inclusion and poverty reduction.

Item Type: Article
Uncontrolled Keywords: 1.Auto-Regressive Distributed Lag 2.Financial Inclusion 3.Per Capital Income 4.Poverty
Subjects: H Social Sciences > H Social Sciences (General)
H Social Sciences > HB Economic Theory
H Social Sciences > HG Finance
Divisions: Faculty of Law, Arts and Social Sciences > School of Social Sciences
Depositing User: nwokealisi
Date Deposited: 18 Jan 2024 11:25
Last Modified: 18 Jan 2024 11:25

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