Rural Finance in Nigeria : Integrating New Approaches
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Washington, DC
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The rural space is home to 53 percent of
Nigeria's population and more than 70 percent of its
poor. While it is well understood in Nigeria that financial
exclusion of the rural population stunts development, still
fewer than 2 percent of rural households have access to any
sort of institutional finance. Access to financial services
is a key ingredient to rural development: it increases
incomes through productive investment, helps create
employment opportunities, facilitates investments in health
and education, and reduces the vulnerability of the poor by
helping them to smooth their income patterns over time. A
lack of rural access to financial services not only retards
rural economic growth, but also increases poverty and
inequality. While Nigeria's own long history with
rural finance shows a clear appreciation for the importance
of rural access, the persistent absence of sustainable
access yields important lessons for the future.
Palabras clave
ACCESS TO CREDIT, ACCESS TO FINANCE, ACCESS TO FINANCIAL SERVICES, ACCESS TO FUNDS, ACCOUNTING, ADVISORY SERVICES, AFFORDABLE CREDIT, AGRICULTURAL COOPERATIVES, AGRICULTURAL CREDIT, AGRICULTURAL DEVELOPMENT BANK, AGRICULTURAL FINANCE, AGRICULTURAL SECTOR, AGRICULTURE ORGANIZATION, ASYMMETRIC INFORMATION, BANK ASSETS, BANK BRANCHES, BANK LENDING, BEST PRACTICE, BORROWER, BORROWING, COLLATERAL, COLLATERAL REQUIREMENTS, COMMERCIAL BANK, COMMERCIAL BANKING, COMMERCIAL BANKS, COMMUNITY BANK, COMMUNITY BANKS, COMMUNITY DEVELOPMENT, COMMUNITY BANKS, CONSUMER, CONTRIBUTION, CONTRIBUTIONS, CONVENTIONAL BANKS, COOP, COOPERATIVE BANK, CREDIT ASSOCIATION, CREDIT ASSOCIATIONS, CREDIT BUREAUS, CREDIT CARDS, CREDIT GUARANTEE, CREDIT INITIATIVES, CREDIT OFFICERS, CREDIT POLICIES, CREDIT PORTFOLIO, CREDIT PROGRAMS, CREDIT PROVISION, CREDIT REGISTRY, CREDIT SUPPORT, CREDITS, CREDIT PROGRAMS, DEBT, DELINQUENCY, DELINQUENCY RATES, DEMAND FOR SAVINGS, DEPOSIT, DEPOSIT INSURANCE, DEPOSIT MOBILIZATION, DEPOSITS, DEVELOPMENT BANK, DEVELOPMENT BANKS, DEVELOPMENT FINANCE, DEVELOPMENT FINANCE INSTITUTIONS, DIVERSIFICATION, DOMESTIC CREDIT, ECONOMIC AGENTS, ECONOMIC GROWTH, EMPLOYMENT OPPORTUNITIES, ENTREPRENEURS, EQUITY INVESTMENT, FARMER, FARMERS, FINANCE INITIATIVES, FINANCIAL DEPTH, FINANCIAL DEVELOPMENT, FINANCIAL DIFFICULTIES, FINANCIAL EDUCATION, FINANCIAL EXCLUSION, FINANCIAL HEALTH, FINANCIAL ILLITERACY, FINANCIAL INSTITUTIONS, FINANCIAL INTERMEDIARIES, FINANCIAL LITERACY, FINANCIAL MARKETS, FINANCIAL NEEDS, FINANCIAL PROVIDERS, FINANCIAL RESOURCES, FINANCIAL SECTOR, FINANCIAL SECTORS, FINANCIAL SERVICE PROVIDERS, FINANCIAL SUSTAINABILITY, FINANCIAL SYSTEM, FINANCIAL SYSTEMS, FINANCIAL VIABILITY, FINANCING NEEDS, FLEXIBLE LOANS, FORMAL FINANCE, FORMAL FINANCIAL INSTITUTIONS, GOVERNMENT INTERVENTIONS, GOVERNMENT POLICIES, GROUP LENDING, GUARANTEE SCHEME, GUARANTEE SCHEMES, HIGH INTEREST RATES, HOUSEHOLDS, INCOME, INCOMES, INEQUALITY, INFORMATION SYSTEM, INSTITUTIONAL CAPACITY, INSTITUTIONAL CAPACITY BUILDING, INSTITUTIONAL INVESTORS, INSTITUTIONAL REFORM, INSTITUTIONAL SUPPORT, INSURANCE COMPANY, INSURANCE SERVICES, INTEREST RATE, INTEREST RATES, INTERNATIONAL BANK, INVESTING, INVESTMENT SCHEME, LACK OF ACCESS, LACK OF INTEREST, LENDERS, LIBERALIZATION OF INTEREST, LOAN, LOAN AMOUNT, LOAN AMOUNTS, LOAN APPLICATION, LOAN APPLICATIONS, LOAN INSURANCE, LOAN PORTFOLIO, LOAN PRODUCTS, LOAN RECOVERY, LOAN REPAYMENT, LOAN SIZES, LOW INCOME, LOW INTEREST RATES, LOWER INCOME, MARKET INFORMATION, MEDIUM ENTERPRISE, MEDIUM ENTERPRISES, MFI, MFIS, MICRO LOANS, MICRO-CREDIT, MICRO-CREDIT SCHEME, MICRO-ENTERPRISE, MICRO-LENDING, MICROFINANCE, MICROFINANCE INSTITUTION, MICROFINANCE INSTITUTIONS, NEW INVESTORS, OBSTACLES TO FINANCE, OPERATING COSTS, OPPORTUNITIES FOR SELF-EMPLOYMENT, OUTREACH, PARTNER BANK, POLICY ENVIRONMENT, POVERTY ALLEVIATION, PRO-POOR FINANCIAL SERVICES, PROFITABILITY, PROFITABLE INVESTMENT, PROVISION OF CREDIT, RATES OF RETURN, REAL ESTATE, REMITTANCE, REMITTANCES, REPAYMENT, REPAYMENT RATES, REPAYMENTS, RESPONSIBILITIES, RETAIL BANKING, RISK PERCEPTION, RISK PERCEPTIONS, RURAL ACCESS, RURAL BANKING, RURAL BRANCH, RURAL BRANCHES, RURAL CREDIT, RURAL FINANCE, RURAL FINANCIAL ACCESS, RURAL FINANCIAL INSTITUTION, RURAL FINANCIAL INSTITUTIONS, RURAL FINANCIAL SERVICE, SALARY, SAVERS, SAVINGS, SAVINGS ACCOUNT, SAVINGS GROUPS, SAVINGS PRODUCTS, SAVINGS SERVICES, SMALL BUSINESS, SMALL BUSINESS FINANCE, SMALLHOLDER, SMALLHOLDER FARMERS, SMALLHOLDER PARTICIPATION, SMALLHOLDERS, SOCIAL CAPITAL, SOURCE OF FUNDS, STAKEHOLDER, SUBSIDIZATION, SUPPLY CHAIN, SUPPLY CHAINS, TECHNICAL ASSISTANCE, TOTAL COST, TRANSACTION, TRANSACTION COSTS, TREASURY BILLS, UNIVERSAL BANKS, URBAN AREAS, VALUABLE, VILLAGE, WAREHOUSE, WAREHOUSE RECEIPTS