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NameCan optimal digital innovation and financial inclusion drive poverty reduction in the Niger Delta re
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Poverty has remained a stubborn challenge in the Niger Delta Region of Nigeria amidst abundant natural resources. The adult population of the Niger Delta especially women are the most affected and financially excluded. The sheer complexity of the Niger Delta with coastal waterways, creeks and islands creates unique challenges that cannot be underestimated.  A clear understanding of the link between financial inclusion and poverty at the rural level is key to optimal design, innovation and implement of financial services necessary for reduction of poverty. Existing literature on financial inclusion is extended in this paper by focusing on micro regional study such as the Niger Delta Region of Nigeria. The study surveyed the extent of poverty using monthly income distribution, and degree of financial inclusion using access and usage of products and services. Findings show that women are more financially excluded. That since the population is agrarian in nature, oil and gas spillage have polluted the environment with no place to farm rendering the entire population poor with no fertile land for livelihood. Findings also shows that majority of the population are unbanked and do not know how to use telephones for banking even when they have. Majority of the population are highly discouraged using financial products and services especially ATM for fear of debiting without payment, long queues, far distance to places of location, high interest rates on loans and difficulty in accessing credit from financial institutions.   Findings from the study suggest that the provisions of optimal digital financial services and products in this rural community with adequate education and advocacy for all the population will broaden financial inclusion, thereby contributing to poverty reduction.

FilenameAAYE_PR_WPS_N32.pdf
Filesize1.71 MB
Filetypepdf (Mime Type: application/pdf)
CreatorDany
Created On: 11/21/2016 13:22
ViewersEverybody
Maintained byEditor
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Last updated on 11/21/2016 13:25
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