Financial inclusion, socioeconomic shocks and social protection in Nigeria amidst Covid-19 pandemic

Datos Bibliográficos

ID22189262
AutoresRomanus Osabohien (0000-0002-9483-1395, Universiti Tenaga Nasional), Amar Hisham Jaaffar (0000-0002-4746-5409, Universiti Tenaga Nasional), Nora Yusma Mohamed Yusoff (0000-0003-1034-8863, Universiti Tenaga Nasional), Joshua Ibrahim, Timothy Ayomitunde Aderemi (0000-0003-1877-8657, Bells University of Technology), Andaratu A Khalid (University of Professional Studies), Lim Kim Yew (0000-0001-9958-1236, INTI International University), Okey Oyama Ovat (0000-0003-1652-0724, University of Calabar)
Año2024
Volumen8
Número7
Páginas3616
Fecha de publicación2024-07-30
Peer ReviewedSí
Open AccessSí
TipoARTICLE
RevistaJournal of Infrastructure Policy and Development (JOURNAL)
Identificadores de la revistaISSN: 2572-7923 • E-ISSN: 2572-7931
EditorialEnPress Publisher (PUBLISHER)
DOI10.24294/jipd.v8i7.3616
OpenAlexW4401138096
IdiomaEN
Citas recibidas1
Referencias citadas12

Financial inclusion and social protection have been recognised as the primary essential stimuli from the potential they carry as avenues for economic development, especially with respect to reduction in poverty and inequalities, the creation of employment and the enhancement overall welfare and livelihood. However, inclusive access to financial resources and equitable access to social protection interventions have remained a significant concern in Nigeria. In addition, the emergence of the COVID-19 pandemic exposed the weakness of Nigeria in all sectors of the economy such as energy, health, education and food systems and low-level inclusive access to financial resources and social protection coverage. On the other hand, this study argues that financial inclusion and social protection has the potential to mitigation shocks orchestrated by the COVID-19 pandemic. This study empirically examines how social protection interventions and access to financial resources responded to COVID-19 pandemic. The study made use of data sourced from the World Bank’s COVID-19 national longitudinal phone survey 2020 and applied the logit regression. The findings show that social protection and access to financial resources significantly associated with the likelihood of shock mitigation during the COVID-19 pandemic. The results show that social protection intervention reduces the probability of being severely affected by shocks by 0.431. Given this result, the study recommends that the government should put more effort into proper social protection intervention to mitigate the effect of the COVID-19 pandemic

Agriculture · Business · Development economics · Economic growth · Economic interventionism · Economics · Environmental health · Financial inclusion · Financial services · Geography · Inequality · Livelihood · Microfinance · Pandemic · Political science · Politics · Poverty · Psychological intervention · Social inequality · Social protection · Socioeconomic status · COVID-19 Pandemic Impacts · Medicine · Microfinance and Financial Inclusion · Psychology · Urban and Rural Development Challenges · Finance