Financial Inclusion and Household Wealth Disparities in Nigeria

Purpose: The study investigates the association between financial inclusion and household wealth disparities and its implications for poverty reduction and economic development in Nigeria. Design/Methodology/Approach: Secondary macroeconomic data from globally recognized databases, including World Bank and GSMA reports, are used, and a census approach is adopted by analyzing annual financial data points for multiple years to reduce selection bias and enhance the robustness of the results. Panel data econometric techniques, such as multiple regression analysis, are applied using Stata software, and descriptive statistics and correlation analysis are used. Findings: The results indicate that financial inclusion significantly reduces household wealth disparities in Nigeria. Access to financial services is shown to enhance opportunities for wealth accumulation among disadvantaged households, thereby contributing to narrowing inequality gaps. Implications/Originality/Value: The study provides empirical evidence supporting the expansion of financial inclusion as a strategy for reducing wealth inequality in Nigeria. It underscores the importance of investments in digital financial infrastructure and financial literacy programs, especially in underserved regions. By advancing financial accessibility, policymakers and financial institutions can promote household-level wealth accumulation and contribute to long-term, inclusive economic development.