Why is financial inclusion low among Nigerian women?
Women financial inclusion. Source: Stears Business

When Michael Famoroti, the chief economist at Stears, addressed Nigeria's financial inclusion issue three months ago, he raised a startling fact: more Nigerian women are locked out of financial services than men.

Count ten men in Nigeria, and at least five of them own a financial account, but only three out of every ten women do. While the figures are not looking great for men, it's worse for the female gender. By solely depending on cash, how would they prevent petty theft or, more importantly, have access to credit and loans that can grow their businesses? 

These questions have long lingered in one corner of my mind, so, as Gbemisola Alonge, the lead feminist at Stears Business, asked me what we should write about in celebration of women's month, my mind naturally went to this topic. 

You see, financial inclusion and poverty eradication—another problem Nigeria is struggling to tackle—go hand

Don’t limit your understanding. Join the Premium community to continue reading.

Adesola Afolabi

Adesola Afolabi

Read Latest

Economies are gaining from carbon taxes, but not Nigeria

PREMIUM - 24 SEP 2021

Nigeria is experiencing a housing bubble and it's absurd

PREMIUM - 23 SEP 2021

Nigeria’s health infrastructure and its funding problem

PREMIUM - 22 SEP 2021

Battle for Benin Bronzes: Should Nigeria fight for their return?

PREMIUM - 21 SEP 2021