Financial inclusion and household welfare nexus in Nigeria: new evidence from a gendered analysis

This study investigates the relationship between financial inclusion and household welfare in Nigeria from a gendered perspective, using data from the 2018/2019 Nigeria General Household Survey comprising approximately 5,000 households. Household welfare is measured using total household consumption, categorized into high and low consumption levels, while financial inclusion is captured through bank account ownership, formal savings, informal savings, and insurance ownership. The study employs binary logistic regression, with separate estimations for male- and female-headed households. The findings show that formal financial inclusion variables significantly increase the likelihood of higher household consumption in the overall sample and among male-headed households.