Financial Inclusion: Nigeria's Microfinance Model Effect Assessment on Women Empowerment

This study ascertained the significant effectiveness of Nigeria’s microfinance model of financial inclusion on women empowerment. Following reforms in the financial system geared towards enhancing women financial inclusion and digitalization of financial products and services, its effect on women empowerment becomes imperative. Specifically, we evaluated the effect of available microfinance banks’ products in rural communities via rent savings, child education, new born and daily savings account on women empowerment. A descriptive survey design was utilized to realize our objective. Two hundred (200) questionnaires were distributed to respondents, out of which one hundred and ninety (190) were fully completed and used for the analysis. After checking for internal reliability of the responses through the Alpha Cronbach’s test, we proceeded to applying Pearson correlation and regression estimations. From the regression estimation, we identified a positive and significant relationship between women empowerment and microfinance banks’ products: rent savings, child education, new born and daily savings account. Thus, microfinance model is a policy in the right direction that will result in more financial inclusion of the women population especially, in rural communities. Subsequently, we recommend the creation of more women tailored products by microfinance banks. This will avail them the opportunity to choose from variety of products and services that specifically suit their needs. Furthermore, collateral for women to access finance from these microfinance banks should be community/socially based rather than individually based

FINANCIAL INCLUSION: NIGERIA’S MICROFINANCE MODEL EFFECT ASSESSMENT ON WOMEN EMPOWERMENT

This study ascertains the significant effectiveness of Nigeria’s microfinance model of financial inclusion on women empowerment. Following reforms in the financial system geared towards enhancing women financial inclusion and digitalization of financial products and services, its effect on women empowerment becomes imperative. Specifically, we evaluate the effect of available microfinance banks’ products in rural communities via rent savings, child education, new born and daily savings account on women empowerment. A descriptive survey design was utilized to realize our objective. Two hundred (200) questionnaires were distributed to respondents, out of which one hundred and ninety (190) were fully completed and used for the analysis. After checking for internal reliability of the responses through the Alpha Cronbach’s test, we proceeded to applying Pearson correlation and regression estimations. From the regression estimation, we identify a positive and significant relationship between women empowerment and microfinance banks’ products: rent savings, child education, new born and daily savings account. Thus, microfinance model is a policy in the right direction that will result in more financial inclusion of the women population especially, in rural communities. Subsequently, we recommend the creation of more women tailored products by microfinance banks. This will avail them the opportunity to choose from variety of products and services that specifically suit their needs. Furthermore, collateral for women to access finance from these microfinance banks should be community/socially based rather than individually based.  Article visualizations

Effects Of Fiscal Arrangement On Economic Growth In Nigeria 1990-2020

Fiscal arrangement which is about how government revenue are earned and government expenditure incurred, this study then investigates the effect of fiscal arrangement on economic growth in Nigeria for the period of 1990 to 2020. With the inflow of revenue from the oil sector and non-oil sector, Nigerian economy still suffers economic dwarfism and despite the recurrent and capital expenditure been incurred, the economy still suffers infrastructural epilepsy which warranted the need for this research work. This research used an ex-post facto research design. ADF test was conducted, the Ordinary Least Square regression model and Granger Causality test was employed and findings revealed that both oil and non-oil revenues negatively predicts economic growth indicating that periodic increase in government revenues coincided with a decline in economic growth. Recommendations was made based on findings, is that the government should take a three step approach to tackle the dwarfish growth of the economy.