Authors: Ishaku Rimamtanung Nyiputen, Samson Adeniyi Aladejare, Uboh Samuel
Abstract: Despite various government initiatives aimed at promoting financial inclusion in Nigeria, the level of financial exclusion remains high in many rural communities. However, this study examined the role of financial inclusion in alleviating poverty among rural households engaged in farm and non-farm activities in Wukari Local Government Area. The main objective of the study was to investigate how access to financial services influences agricultural productivity and non-farm income-generating activities among rural households. The study adopted a descriptive survey research design. Primary data were collected through structured questionnaires administered to 120 respondents, including farmers, traders, and artisans. The data were analysed using descriptive statistical tools such as frequency distribution and percentages. The findings revealed that majority of respondents have access to bank accounts, indicating a moderate level of financial inclusion in the area. The results further showed that financial inclusion significantly improves agricultural productivity by enabling farmers to access credit and invest in productive inputs. In addition, financial services support non-farm economic activities such as small businesses and trading, thereby increasing household income. However, the study also identified challenges such as long distances to banking facilities, lack of collateral, and high interest rates as major barriers to financial inclusion. The study concludes that improving financial inclusion can significantly reduce poverty and enhance economic development in rural communities. It therefore recommends expansion of rural banking services, promotion of digital financial services, and implementation of financial literacy programs.
DOI: http://doi.org/10.5281/zenodo.20444857
