Keywords
farming households
determinants
agriculture
How to Cite
Abstract
Nigeria’s agricultural sector is dominated by smallholders who occupied a substantial economic position in the country. Literatures indicates that majority of rural farming households practice peasant agriculture and remained in vicious cycle of poverty. Inadequate finance and low financial inclusion have been considered as some of the reasons limiting their agricultural output. Thus, it is expedient to review the factors that influences financial inclusion and how financial interventions improve their agricultural production and overall household welfare. Therefore, this review is focused on socioeconomic factors and demographic variables that influences financial inclusion among Nigeria’s farming households with the view to ascertaining its impact on agricultural production. It was concluded that financial inclusion is a concept with diverse influencing variables that holds immense potential for rural economic development. To promote sustainable financial inclusion in agriculture, targeted interventions are needed from governments, private actors, financial institutions, and development partners. These interventions should include financial literacy education, farmer-centric financial products, farmer’s capacity-building programs, and investments in rural infrastructure.
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