Analysis of Impact of Financial Inclusion on Rural Farming Households in Nigeria: A Review

The smallholder agricultural sector in Nigeria occupies a substantial position in the country’s economy. Available evidence indicates that rural farming households who have remained in the vicious cycle of poverty constitute about 90% of the farming population. Thus, the rural farming households require financial interventions to improve their agricultural production and overall welfare. However, this agricultural segment is seemingly facing a challenge regarding inaccessibility to the required finances with which to obtain the necessary input for attaining the desired farm boost and yield. Therefore, this review is focused on investigating the how financial inclusion could impact positively on rural farming households in Nigeria. Literature search was conducted systematically to collect recent research evidence to support the study. Summarily, it was found that financial inclusion has significant potential to enhance agricultural performance and welfare among rural farmers.