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The Role of Digital Financial Literacy in Promoting Financial Inclusion for Rural Women Agripreneurs in Nigeria

Year 2025, Volume: 5 Issue: 1, 33 - 40, 08.04.2025

Sanusi Sadıq

Abstract

Digital financial literacy (DFL) is increasingly recognized as a critical factor in promoting financial inclusion, particularly for marginalized groups such as rural women agripreneurs in developing nations like Nigeria. This study explores the relationship between DFL and financial inclusion among rural female agricultural entrepreneurs, examining how digital skills impact access to financial services and economic empowerment. Through an extensive review of empirical literature, this paper addresses the unique challenges faced by these women, the role of DFL in overcoming these challenges, and the broader economic and social benefits of increased financial inclusion. Results highlight the importance of targeted educational initiatives, digital infrastructure development, and supportive policy frameworks to foster sustainable growth. This paper concludes with recommendations for stakeholders, including government agencies, non-governmental organizations (NGOs), and financial institutions, to prioritize DFL as a foundational tool for fostering inclusive economic development in rural Nigeria.

Keywords

Digital Finance Women Agripreneurship

References

  • Adefare, T., Adeola, O., Mogaji, E., Nguyen, N. P., & Mogaji, S. A. (2024). Empowering women agriculture entrepreneurs: banks' role in achieving sustainable development goals. International Journal of Bank Marketing, 42(4), 692-724.
  • Afolabi, A. (2020). Digital Financial Services and Women Empowerment in Nigeria. African Journal of Economics and Society, 9(2), 85-102.
  • Akinlo, A., & Akinlo, O. (2019). Financial Literacy and Economic Empowerment among Rural Women in Nigeria. Journal of Development Studies, 15(1), 46-60.
  • Akpuokwe, C. U., Chikwe, C. F., & Eneh, N. E. (2024). Leveraging technology and financial literacy for women’s empowerment in SMEs: A conceptual framework for sustainable development. Global Journal of Engineering and Technology Advances, 18(3), 020-032.
  • Alabi, R. A., Bakare, A., & Alabi, T. V. (2022). Financial inclusion, innovation and agricultural development in Nigeria. Sustainable Development Goal Nine and African Development: Challenges and Opportunities, 22, 223.
  • Becker, G. S. (1964). Human Capital: A Theoretical and Empirical Analysis with Special Reference to Education. University of Chicago Press.
  • Chinelo, U. V., & Ayodeji, E. P. (2022). "Leveraging on Digital Technology for Financial Inclusion of Women Agripreneurs in Southern Nigeria." F1000Research. Retrieved from https://www.ncbi.nlm.nih.gov/pmc/articles/PMC10918311/.
  • Demirgüç-Kunt, A., Klapper, L., Singer, D., & Ansar, S. (2018). The Global Findex Database 2017: Measuring Financial Inclusion and the Fintech Revolution. World Bank Group.
  • Efobi, U. R., et al. (2017). The Impact of Financial Inclusion on Women Empowerment in Africa. African Journal of Economic and Management Studies, 8(3), 338-356.
  • Gichuki, C. N., & Kamau, C. W. (2022). Financing Agribusiness: Potential determinants of financial inclusion for smallholder rural farming communities in Kenya. International Journal of Rural Management, 18(3), 376-393.
  • Gumbo, L., Marimuthu, F., & Vengesai, E. (2023). Financial literacy competencies of women in agribusiness and their financial experiences during a pandemic. Southern African Journal of Entrepreneurship and Small Business Management, 15(1), 1-11.
  • Hassan, A. (2022). Challenges to Implementing Financial Inclusion in Sub-Rural Areas in Bauchi State. A Master's Thesis, American University of Nigeria.
  • Maigari, M. A., & Yelwa, M. M. (2023). Digital Transaction: A Catalyst for Financial Inclusion and Job Creation. Journal of Digital Marketing and Halal Industry, 5(1), 57-76.
  • Modiba, F. S., & Musasa, G. (2024). Can the Digital Economy Transform Financial Inclusion in Rural Communities? A Gendered Lens. Journal of Inclusive Policy and Development, 11(1). Retrieved from https://systems.enpress-publisher.com/index.php/jipd/article/view/3756.
  • Modiba, F. S., Musasa, G., Matindike, S., Kwanhi, T., Damiyano, D., & Mago, S. (2024). Can the digital economy transform financial inclusion in rural communities? A gendered lens. Journal of Infrastructure, Policy and Development, 8(8), 3756.
  • Mohamud, F. A. S., & Mohamed, A. A. (2023). Determinants of Financial Inclusion of Female Entrepreneurs in Somalia. Global Social Welfare, 1-12.
  • Obisesan, A. A., Oduntan, O., & Adetola, E. L. (2023). ICT-enabled agribusiness: case of female fresh fish marketers in coastal area of Ogun State, Southwest Nigeria. Ghana Journal of Agricultural Science, 58(2), 158-166.
  • Odularu, G., & Okhale, I. A. (2024). Women Digital Entrepreneurship, Trade, and the New Equation. In Africa's Trade Facilitation Preparedness & Development, Google Books. Retrieved from https://books.google.com/books?hl=en&lr=&id=8pEJEQAAQBAJ.
  • Odum, F. N., Ugwuja, V. C., Ike, P. C., & Inoni, O. E. (2018). A Review of Digital Innovations and their Associated Risks: Implications for Agribusiness Development in Nigeria. Nigerian Agricultural Policy Research Journal (NAPReJ), 5(1), 39-51.
  • Ogbari, M. E., Folorunso, F., Simon-Ilogho, B., Adebayo, O., Olanrewaju, K., Efegbudu, J., & Omoregbe, M. (2024). Social Empowerment and Its Effect on Poverty Alleviation for Sustainable Development among Women Entrepreneurs in the Nigerian Agricultural Sector. Sustainability, 16(6), 2225.
  • Ogunrinde, O. Y. (2024). The role of financial inclusion in women's economic empowerment: evidence from Nigeria. Financial Studies, 28(1).
  • Olowa, O., & Olowa, R. (2020). Agripreneurship and Rural Economic Development in Nigeria. Journal of Rural and Agricultural Economics, 6(4), 229-245.
  • Oloyede, T. (2018). Exploring Digital Financial Services for Rural Women in Nigeria. Nigerian Journal of Finance, 12(1), 119-136.
  • Ovwigho, C., Miebi, T., & Joseph, O. (2024). Financial inclusion and impacts on agriculture in Delta State, Nigeria. GSC Advanced Research and Reviews, 18(2), 087-096.
  • Oyekanmi, O. (2024). Digital Gender Inclusion and Women's Economic Empowerment in Ethiopia and Nigeria. In African Women in the Fourth Industrial Revolution. Taylor & Francis.
  • Rani, P., & Kumar, R. (2024). Exploring Financial Inclusion Among Women Entrepreneurs: A Survey in Hazaribagh District, Jharkhand. International Journal for Multidisciplinary Research, 6(2).
  • Rogers, E. M. (2003). Diffusion of Innovations. 5th ed., Free Press.
  • Rutashobya, L. K., Chiwona-Karltun, L., Wilson, M., Ilomo, M., & Semkunde, M. (2021). Gender and rural entrepreneurship in digitizing Sub-Saharan Africa. Business in Africa in the Era of Digital Technology: Essays in Honour of Professor William Darley, 63-84.
  • Sen, A. (1999). Development as Freedom. Knopf.
  • Soetan, T. O., & Mogaji, E. (2024). Financial Services in Nigeria: The Path Towards Financial Inclusion, Economic Development and Sustainable Growth. Springer Nature.
  • Uduji, J. I., & Okolo-Obasi, E. N. (2018). Young rural women’s participation in the e-wallet programme and usage intensity of modern agricultural inputs in Nigeria. Gender, Technology and Development, 22(1), 59-81.
  • Uduji, J. I., & Okolo-Obasi, E. N. (2022). Empowerment of Rural Young People in Informal Farm Entrepreneurship: The Role of Corporate Social Responsibility in Nigeria's Oil Producing Communities. Journal of Enterprising Communities: People and Places in the Global Economy, 17(3). Retrieved from https://www.emerald.com/insight/content/doi/10.1108/JEC-04-2021-0054/full/html.
  • Ugwuja, V. C., Ekunwe, P. A., & Henri-Ukoha, A. (2020). Cyber risks in electronic banking: exposures and cybersecurity preparedness of women agro-entrepreneurs in South-South Region of Nigeria. Journal of Business Diversity, 20(3).
  • World Bank. (2022). Financial Inclusion Overview. Retrieved from https://www.worldbank.org/en/topic/financialinclusion/overview.

The Role of Digital Financial Literacy in Promoting Financial Inclusion for Rural Women Agripreneurs in Nigeria

Year 2025, Volume: 5 Issue: 1, 33 - 40, 08.04.2025

Sanusi Sadıq

Abstract

Digital financial literacy (DFL) is increasingly recognized as a critical factor in promoting financial inclusion, particularly for marginalized groups such as rural women agripreneurs in developing nations like Nigeria. This study explores the relationship between DFL and financial inclusion among rural female agricultural entrepreneurs, examining how digital skills impact access to financial services and economic empowerment. Through an extensive review of empirical literature, this paper addresses the unique challenges faced by these women, the role of DFL in overcoming these challenges, and the broader economic and social benefits of increased financial inclusion. Results highlight the importance of targeted educational initiatives, digital infrastructure development, and supportive policy frameworks to foster sustainable growth. This paper concludes with recommendations for stakeholders, including government agencies, non-governmental organizations (NGOs), and financial institutions, to prioritize DFL as a foundational tool for fostering inclusive economic development in rural Nigeria.

Keywords

Digital Finance Women Agrpreneurship

References

  • Adefare, T., Adeola, O., Mogaji, E., Nguyen, N. P., & Mogaji, S. A. (2024). Empowering women agriculture entrepreneurs: banks' role in achieving sustainable development goals. International Journal of Bank Marketing, 42(4), 692-724.
  • Afolabi, A. (2020). Digital Financial Services and Women Empowerment in Nigeria. African Journal of Economics and Society, 9(2), 85-102.
  • Akinlo, A., & Akinlo, O. (2019). Financial Literacy and Economic Empowerment among Rural Women in Nigeria. Journal of Development Studies, 15(1), 46-60.
  • Akpuokwe, C. U., Chikwe, C. F., & Eneh, N. E. (2024). Leveraging technology and financial literacy for women’s empowerment in SMEs: A conceptual framework for sustainable development. Global Journal of Engineering and Technology Advances, 18(3), 020-032.
  • Alabi, R. A., Bakare, A., & Alabi, T. V. (2022). Financial inclusion, innovation and agricultural development in Nigeria. Sustainable Development Goal Nine and African Development: Challenges and Opportunities, 22, 223.
  • Becker, G. S. (1964). Human Capital: A Theoretical and Empirical Analysis with Special Reference to Education. University of Chicago Press.
  • Chinelo, U. V., & Ayodeji, E. P. (2022). "Leveraging on Digital Technology for Financial Inclusion of Women Agripreneurs in Southern Nigeria." F1000Research. Retrieved from https://www.ncbi.nlm.nih.gov/pmc/articles/PMC10918311/.
  • Demirgüç-Kunt, A., Klapper, L., Singer, D., & Ansar, S. (2018). The Global Findex Database 2017: Measuring Financial Inclusion and the Fintech Revolution. World Bank Group.
  • Efobi, U. R., et al. (2017). The Impact of Financial Inclusion on Women Empowerment in Africa. African Journal of Economic and Management Studies, 8(3), 338-356.
  • Gichuki, C. N., & Kamau, C. W. (2022). Financing Agribusiness: Potential determinants of financial inclusion for smallholder rural farming communities in Kenya. International Journal of Rural Management, 18(3), 376-393.
  • Gumbo, L., Marimuthu, F., & Vengesai, E. (2023). Financial literacy competencies of women in agribusiness and their financial experiences during a pandemic. Southern African Journal of Entrepreneurship and Small Business Management, 15(1), 1-11.
  • Hassan, A. (2022). Challenges to Implementing Financial Inclusion in Sub-Rural Areas in Bauchi State. A Master's Thesis, American University of Nigeria.
  • Maigari, M. A., & Yelwa, M. M. (2023). Digital Transaction: A Catalyst for Financial Inclusion and Job Creation. Journal of Digital Marketing and Halal Industry, 5(1), 57-76.
  • Modiba, F. S., & Musasa, G. (2024). Can the Digital Economy Transform Financial Inclusion in Rural Communities? A Gendered Lens. Journal of Inclusive Policy and Development, 11(1). Retrieved from https://systems.enpress-publisher.com/index.php/jipd/article/view/3756.
  • Modiba, F. S., Musasa, G., Matindike, S., Kwanhi, T., Damiyano, D., & Mago, S. (2024). Can the digital economy transform financial inclusion in rural communities? A gendered lens. Journal of Infrastructure, Policy and Development, 8(8), 3756.
  • Mohamud, F. A. S., & Mohamed, A. A. (2023). Determinants of Financial Inclusion of Female Entrepreneurs in Somalia. Global Social Welfare, 1-12.
  • Obisesan, A. A., Oduntan, O., & Adetola, E. L. (2023). ICT-enabled agribusiness: case of female fresh fish marketers in coastal area of Ogun State, Southwest Nigeria. Ghana Journal of Agricultural Science, 58(2), 158-166.
  • Odularu, G., & Okhale, I. A. (2024). Women Digital Entrepreneurship, Trade, and the New Equation. In Africa's Trade Facilitation Preparedness & Development, Google Books. Retrieved from https://books.google.com/books?hl=en&lr=&id=8pEJEQAAQBAJ.
  • Odum, F. N., Ugwuja, V. C., Ike, P. C., & Inoni, O. E. (2018). A Review of Digital Innovations and their Associated Risks: Implications for Agribusiness Development in Nigeria. Nigerian Agricultural Policy Research Journal (NAPReJ), 5(1), 39-51.
  • Ogbari, M. E., Folorunso, F., Simon-Ilogho, B., Adebayo, O., Olanrewaju, K., Efegbudu, J., & Omoregbe, M. (2024). Social Empowerment and Its Effect on Poverty Alleviation for Sustainable Development among Women Entrepreneurs in the Nigerian Agricultural Sector. Sustainability, 16(6), 2225.
  • Ogunrinde, O. Y. (2024). The role of financial inclusion in women's economic empowerment: evidence from Nigeria. Financial Studies, 28(1).
  • Olowa, O., & Olowa, R. (2020). Agripreneurship and Rural Economic Development in Nigeria. Journal of Rural and Agricultural Economics, 6(4), 229-245.
  • Oloyede, T. (2018). Exploring Digital Financial Services for Rural Women in Nigeria. Nigerian Journal of Finance, 12(1), 119-136.
  • Ovwigho, C., Miebi, T., & Joseph, O. (2024). Financial inclusion and impacts on agriculture in Delta State, Nigeria. GSC Advanced Research and Reviews, 18(2), 087-096.
  • Oyekanmi, O. (2024). Digital Gender Inclusion and Women's Economic Empowerment in Ethiopia and Nigeria. In African Women in the Fourth Industrial Revolution. Taylor & Francis.
  • Rani, P., & Kumar, R. (2024). Exploring Financial Inclusion Among Women Entrepreneurs: A Survey in Hazaribagh District, Jharkhand. International Journal for Multidisciplinary Research, 6(2).
  • Rogers, E. M. (2003). Diffusion of Innovations. 5th ed., Free Press.
  • Rutashobya, L. K., Chiwona-Karltun, L., Wilson, M., Ilomo, M., & Semkunde, M. (2021). Gender and rural entrepreneurship in digitizing Sub-Saharan Africa. Business in Africa in the Era of Digital Technology: Essays in Honour of Professor William Darley, 63-84.
  • Sen, A. (1999). Development as Freedom. Knopf.
  • Soetan, T. O., & Mogaji, E. (2024). Financial Services in Nigeria: The Path Towards Financial Inclusion, Economic Development and Sustainable Growth. Springer Nature.
  • Uduji, J. I., & Okolo-Obasi, E. N. (2018). Young rural women’s participation in the e-wallet programme and usage intensity of modern agricultural inputs in Nigeria. Gender, Technology and Development, 22(1), 59-81.
  • Uduji, J. I., & Okolo-Obasi, E. N. (2022). Empowerment of Rural Young People in Informal Farm Entrepreneurship: The Role of Corporate Social Responsibility in Nigeria's Oil Producing Communities. Journal of Enterprising Communities: People and Places in the Global Economy, 17(3). Retrieved from https://www.emerald.com/insight/content/doi/10.1108/JEC-04-2021-0054/full/html.
  • Ugwuja, V. C., Ekunwe, P. A., & Henri-Ukoha, A. (2020). Cyber risks in electronic banking: exposures and cybersecurity preparedness of women agro-entrepreneurs in South-South Region of Nigeria. Journal of Business Diversity, 20(3).
  • World Bank. (2022). Financial Inclusion Overview. Retrieved from https://www.worldbank.org/en/topic/financialinclusion/overview.
There are 34 citations in total.

Details

Primary Language English
Subjects Agricultural Economics
Journal Section Short Communications
Authors

Sanusi Sadıq 0000-0003-4336-5723

Publication Date April 8, 2025
Submission Date November 24, 2024
Acceptance Date February 13, 2025
Published in Issue Year 2025 Volume: 5 Issue: 1

Cite

APA Sadıq, S. (2025). The Role of Digital Financial Literacy in Promoting Financial Inclusion for Rural Women Agripreneurs in Nigeria. Muş Alparslan Üniversitesi Tarım Ve Doğa Dergisi, 5(1), 33-40. https://doi.org/10.59359/maujan.1590667
AMA Sadıq S. The Role of Digital Financial Literacy in Promoting Financial Inclusion for Rural Women Agripreneurs in Nigeria. MAÜ Tarım Doğa Derg. April 2025;5(1):33-40. doi:10.59359/maujan.1590667
Chicago Sadıq, Sanusi. “The Role of Digital Financial Literacy in Promoting Financial Inclusion for Rural Women Agripreneurs in Nigeria”. Muş Alparslan Üniversitesi Tarım Ve Doğa Dergisi 5, no. 1 (April 2025): 33-40. https://doi.org/10.59359/maujan.1590667.
EndNote Sadıq S (April 1, 2025) The Role of Digital Financial Literacy in Promoting Financial Inclusion for Rural Women Agripreneurs in Nigeria. Muş Alparslan Üniversitesi Tarım ve Doğa Dergisi 5 1 33–40.
IEEE S. Sadıq, “The Role of Digital Financial Literacy in Promoting Financial Inclusion for Rural Women Agripreneurs in Nigeria”, MAÜ Tarım Doğa Derg, vol. 5, no. 1, pp. 33–40, 2025, doi: 10.59359/maujan.1590667.
ISNAD Sadıq, Sanusi. “The Role of Digital Financial Literacy in Promoting Financial Inclusion for Rural Women Agripreneurs in Nigeria”. Muş Alparslan Üniversitesi Tarım ve Doğa Dergisi 5/1 (April 2025), 33-40. https://doi.org/10.59359/maujan.1590667.
JAMA Sadıq S. The Role of Digital Financial Literacy in Promoting Financial Inclusion for Rural Women Agripreneurs in Nigeria. MAÜ Tarım Doğa Derg. 2025;5:33–40.
MLA Sadıq, Sanusi. “The Role of Digital Financial Literacy in Promoting Financial Inclusion for Rural Women Agripreneurs in Nigeria”. Muş Alparslan Üniversitesi Tarım Ve Doğa Dergisi, vol. 5, no. 1, 2025, pp. 33-40, doi:10.59359/maujan.1590667.
Vancouver Sadıq S. The Role of Digital Financial Literacy in Promoting Financial Inclusion for Rural Women Agripreneurs in Nigeria. MAÜ Tarım Doğa Derg. 2025;5(1):33-40.
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