Rural Finance in Nigeria : Integrating New Approaches

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...

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Main Author:	World Bank
Format:	Other Financial Sector Study
Language:	English
Published:	Washington, DC 2012
Subjects:	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 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 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
Online Access:	http://documents.worldbank.org/curated/en/2008/04/9846810/rural-finance-nigeria-integrating-new-approaches http://hdl.handle.net/10986/8108

id	okr-10986-8108
recordtype	oai_dc
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English
topic	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
spellingShingle	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 World Bank Rural Finance in Nigeria : Integrating New Approaches
geographic_facet	Africa Nigeria
description	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.
format	Economic & Sector Work :: Other Financial Sector Study
author	World Bank
author_facet	World Bank
author_sort	World Bank
title	Rural Finance in Nigeria : Integrating New Approaches
title_short	Rural Finance in Nigeria : Integrating New Approaches
title_full	Rural Finance in Nigeria : Integrating New Approaches
title_fullStr	Rural Finance in Nigeria : Integrating New Approaches
title_full_unstemmed	Rural Finance in Nigeria : Integrating New Approaches
title_sort	rural finance in nigeria : integrating new approaches
publisher	Washington, DC
publishDate	2012
url	http://documents.worldbank.org/curated/en/2008/04/9846810/rural-finance-nigeria-integrating-new-approaches http://hdl.handle.net/10986/8108
_version_	1764403581950099456
spelling	okr-10986-81082021-04-23T14:02:36Z Rural Finance in Nigeria : Integrating New Approaches World Bank 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 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. 2012-06-14T21:13:39Z 2012-06-14T21:13:39Z 2008-04 http://documents.worldbank.org/curated/en/2008/04/9846810/rural-finance-nigeria-integrating-new-approaches http://hdl.handle.net/10986/8108 English CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Washington, DC Economic & Sector Work :: Other Financial Sector Study Economic & Sector Work Africa Nigeria

Rural Finance in Nigeria : Integrating New Approaches

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