Digital financial services have expanded rapidly across Nigeria, promising to improve financial inclusion, increase productivity, and strengthen the resilience of rural livelihoods. Yet an important question remains:
What exactly is digital finance solving for smallholder farmers?
In this new peer-reviewed study, Dr. Marcus O. Ogunfolaju, Resident Senior Research Fellow at the Centre for Inclusive Social Development (CISD), examines how smallholder farmers in North Central Nigeria use digital financial services and the barriers that continue to limit meaningful financial inclusion. The research draws on evidence from 812 farmers across Niger, Kogi, and Kwara States, providing one of the most comprehensive assessments of digital financial service utilisation in the region.
The study reveals that while digital finance has become common for everyday transactions such as using POS terminals and ATMs, adoption of more advanced services—including mobile banking, e-wallets, digital credit, and savings—remains significantly lower. It also highlights how transaction failures, poor network coverage, and low confidence in digital platforms continue to undermine wider adoption.
Beyond identifying these challenges, the research outlines practical recommendations for strengthening digital financial inclusion through improved infrastructure, enhanced digital literacy, greater service reliability, and stronger user confidence.
Download the Full Research
The complete publication provides detailed methodology, statistical analysis, policy implications, and recommendations for governments, financial institutions, development partners, and researchers working to expand inclusive digital finance in Nigeria.
📥 Download the full research paper here:
Evidence should not remain on library shelves. It should inform better policies, better investments, and better outcomes for the people they are intended to serve.
The Centre for Inclusive Social Development (CISD) is a non-profit research and advocacy organisation working to advance inclusive governance, gender and social equity, civic technology, and sustainable livelihoods across Nigeria and sub-Saharan Africa. Through rigorous research, coalition-building, and public-interest storytelling, CISD amplifies the voices of marginalised communities and holds power accountable.
Learn more at cisdnigeria.org or follow us on social media.
How to cite this article
Marcus O. Ogunfolaju. (2026, July 23). Utilisation of Digital Financial Services Among Smallholder Farmers in North Central Nigeria: Beyond identifying these challenges, the research outlines practical recommendations for strengthening digital financial inclusion through improved infrastructure, enhanced digital literacy, greater s. CISD Insights. Centre for Inclusive Social Development. Retrieved from https://cisdnigeria.org/article/utilisation-of-digital-financial-services-among-smallholder-farmers-in-north-central-nigeria/.
