Assessment of the financial inclusion–gender–welfare nexus among smallholder maize farmers in Nigeria

OE Ayinde, AO Olarewaju, MJ Miranda, KF Omotesho & K Ayinde

This study investigates the relationships between financial inclusion, gender and household welfare. We used baseline data collected from a randomised control trial survey of maize farmers in Nigeria and computed multidimensional indices for financial inclusion and farmers’ household welfare. These indices were then used in a robust seemingly unrelated regression (SUR) model to determine the influence of financial inclusion on farmers’ welfare, differentiated by gender. The results of the study show that male-headed households are more financially included and have better welfare status than female-headed households, and that financial inclusion significantly influences the welfare status of farmers. The results also suggest that enhanced financial inclusion increases the likelihood of improving consumption expenditure, employment, assets and social amenities. Thus, the study recommends implementing policies that contribute to increasing financial inclusion and improving the welfare status of farmers.