8. Financial Inclusion for Women in Nigeria: Much Ado About Access

The case for financial inclusion in developing countries has taken center stage in development discourse in recent years, which may suggest significant improvement in financial inclusion in developing economies. Despite this, evidence still shows that financial inclusion is biased against women. The application of gender lens to the view of financial inclusion has usually looked at these differences between men and women via access to finance and credit facilities. However, the issues involved reflect both the supply side at the macro level and demand-side factors at the household level. It is thus pertinent to ask: to what extent is gendered budgeting reflective of financial inclusiveness in Nigeria? At what critical point does financial inclusion favor male over female? Do women within different spatial features have any edge in the financial inclusion game by any means? This chapter, therefore, examines financial inclusion from the multidimensional lens of opportunity, accessibility, and utilization for Nigerian women in general and rural women in particular. Findings reveal that there are demand and supply factors that lead to self-selection of women into degrees within the financial inclusion frame, with differentials across rural and urban sectors. Policy implications are likely to reflect the need to examine the phenomenon of financial inclusion beyond access to credit to a holistic view that includes creating a baseline opportunity to enhance women’s capacity to access formal financial systems.