Impact of Financial Inclusion Technologies on Poverty Reduction in Nigeria (2013Q1 – 2024Q4).
Publication Date: 01/06/2026
Author(s): Edozie Confidence Chukwuedozie.
Volume/Issue: Volume 9, Issue 2 (2026)
Page No: 156-169
Journal: African Journal of Economics and Sustainable Development (AJESD)
Abstract:
This study examined the impact of financial inclusion technologies on poverty reduction in Nigeria covering the period 2013Q1 to 2024Q4. Data for the study were extracted from the Central Bank of Nigeria (CBN) Statistical Bulletin, 2024. The expo-facto research design was adopted in the study. The multiple linear regression with the application of Ordinary Least Squares (OLS) technique was adopted as the method of data analysis. The major findings of the study reveal that Point on Sales (POS) contributes positively and significantly to poverty reduction in Nigeria, Automated Teller Machines (ATM) contributes positively and significantly to poverty reduction in Nigeria, Web Pay (WP) contributes negatively and significantly to poverty reduction in Nigeria and Mobile Pay (MP) contributes negatively and significantly to poverty reduction in Nigeria. The study therefore recommends that there should a simplification of the user interface and payment processes to accommodate individuals with limited technical knowledge and the monetary authorities should launch nationwide financial and digital literacy programs to educate users on how to safely and effectively use Mobile Pay systems for transactions and savings.
Keywords:
Financial Inclusion Technologies, Poverty Reduction, POS Transactions, ATM Usage, Web Pay, Mobile Pay, Nigeria, OLS Regression, Digital Finance.
