School of Innovative Technology (SIT)

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School of Innovative Technology (SIT)

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Author: search.filters.author.Musa Abdullahi SakankoSubject: search.filters.subject.poverty

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    ANALYSIS OF THE IMPACT OF FINANCIAL INCLUSION ON POVERTY REDUCTION IN MINNA NIGER STATE, NIGERIA
    (Abuja Journal of Economics and Allied Field, 2018) Musa Abdullahi Sakanko; Audu Abdulkareem Usman; Musa Clement Lawal; Aliyu Musari Onimisi
    Undoubtedly, financial inclusion has been considered as one of the ways of reducing poverty be-cause it favours mainly low-income groups by bringing a lot of welfare benefits to them through the basic services offered by financial institutions such as mobilization of savings, risk reduction, monitoring and advise, cost mitigation, reduction of information asymmetry, and allocation of funds to the most competent entrepreneurs to promote technological innovation and hence eco-nomic development. The study investigated the impact of Financial Inclusive on poverty reduction in Minna using logistics regression and the result revealed that formal ownership of the account, Financial adviser, teller point, and access to formal credit lead to an improvement in the welfare of people and statistically significant. Therefore, the study concludes that formal ownership of the account, financial adviser, teller point, and access to credit will help in the reduction of poverty in Minna Metropolis. Thus, recommend fiscal regulation, installation of teller or ATM point in stra-tegic places in both the rural and urban area, the establishment of customer advisory unit or de-partment in commercial banks, and checkmate of the commercial bank’s loan procedure by Central Bank of Nigeria,
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    Does Financial Inclusion Reduce Poverty in Niger State: Evidence from Logistic Regression Technique
    (Organizations and Markets in Emerging Economies, 2022-01-01) Nurudeen Abu; Musa Abdullahi Sakanko; Joseph David; Awadh Ahmed Mohammed Gamal; Ben Obi
    This study employs the logistic regression method to examine the effect of financial inclusion on the level of poverty in Niger State of Nigeria based on cross-sectional data randomly collected from 624 respondents across 224 towns and villages in 12 local government areas (LGAs) of the state. The estimation results illustrate that financial inclusion (proxied by bank account ownership, including access to bank, credit, and mobile phone) is significantly and negatively related to the level of poverty. This empirical outcome is further validated by the results of the Probit regression technique which show a significant negative relationship between financial inclusion and poverty in the state. Based on these empirical findings, the study recommends policies which include broadening bank coverage, softening credit requirements, and enhancement of people’s access to mobile phone and internet services in rural areas of Niger state.