Rural-Urban Differentials in Levels and Correlates of Financial Inclusion among Nigerian Women

Yemi Adewoyin, University of Nigeria Nsukka(UNN)
Nkem Adeyemi-Adewoyin, University of Ibadan, Ibadan

Bridging the gender gap in financial inclusion (FI) becomes imperative in view of the impacts of women’s FI on poverty eradication and household socioeconomic development. This study assesses the level of women FI and hypothesizes that its correlates vary between urban and rural Nigeria. Data on bank-account ownership, place of residence and other sociodemographic variables of 36,601 women were extracted from the 2018 Nigerian Demographic and Health Survey and analyzed at univariate, bivariate and multivariate levels. Results show the prevalence of women FI were 20.7%, 18.5% and 22.2% at the national, urban and rural levels respectively. Women without education, whose husbands had no education and who were poor were more financially included in rural areas but least included in urban areas (P < 0.05). While education, wealth and religion were significant correlates of FI in rural areas (P < 0.05), they were not, in urban areas.