Open Access Article

Financial Digital Inclusion and Women’s Empowerment in the Fourth Industrial Revolution: Evidence from Nigeria

Akeju Kemi Funlayo (1) , Oluwayemisi Kadijat Adeleke (2) , Ani, Judith Ifunanya (3) , Chisaa Onyekachi Igbolekwu (4)
1. Department of Economics, Ekiti State University, Nigeria.
2. Department of Economics, Redeemer’s University, Nigeria
3. Department of Sociology, Walter, Sisulu University
4. Direct Consulting and Logistics, Nigeria
https://doi.org/10.36923/SQ.v1i1.240

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Issue
Vol. 1 No. 1 (2024)
Submitted
August 2, 2024
Accepted
September 25, 2024
Published
October 8, 2024
Keywords:
    Digital Financial Inclusion, SDG 5, Gender equality, Women’s Empowerment, Fourth Industrial Revolution, Nigeria
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Abstract

The limited influence of African women on resources and decision-making has posed significant challenges to their capabilities and empowerment for decades. The purpose of this study is to investigate the role of financial inclusion in advancing women’s economic empowerment within the Nigerian context, drawing on data from the 2018 Nigerian Demographic and Health Survey (DHS). The analysis focuses on women’s empowerment in terms of their participation in decision-making related to their own earnings and healthcare. Key financial inclusion variables include the use of mobile money and account ownership. The findings reveal that the odds of women making decisions regarding their earnings and healthcare are approximately 36% and 25% higher, respectively, for those who use mobile phones for financial transactions compared to those who do not. Additionally, women without an account in a financial institution exhibit approximately 42% and 32% lower odds of making decisions about their earnings and healthcare, respectively. This research contributes to the literature on digital financial inclusion and highlights its pivotal role in enhancing women's empowerment and promoting gender equality in Nigeria.

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Authors

Akeju Kemi Funlayo
https://orcid.org/0000-0002-1719-4388
kemi.akeju@eksu.edu.ng (Primary Contact)
Oluwayemisi Kadijat Adeleke
https://orcid.org/0000-0002-3994-8523
Ani, Judith Ifunanya
https://orcid.org/0000-0002-7036-1210
Chisaa Onyekachi Igbolekwu
https://orcid.org/0000-0003-4647-7974
Author Biographies

Akeju Kemi Funlayo

AKEJU Kemi Funlayo is a Lecturer of Development Economics. Her works focus on issues of African development policies and programs in the areas of poverty, child and maternal health, fertility, financial inclusion, inequality, social protection, gender issues, climate change, and socio-economic dimensions of economic shocks. She has proven experience in developing micro and macroeconomic models to inform policies to aid strategic plans for advocacy and solution-based research on SDG goals and targets. Dr. Akeju has written and presented papers at both local and international conferences. Her ongoing research includes project works on digital financial inclusion, financial resilience, social protection, women's empowerment, and household well-being. She has also published many research outputs in reputable indexed journals. She has mastery of both quantitative and qualitative methodologies in the social sciences research.

Oluwayemisi Kadijat Adeleke

Dr Oluwayemisi Kadijat Adeleke holds a PhD in Economics from the University of Benin, Nigeria through a fully sponsored PhD scholarship from the African Economic Research Consortium (AERC) and her PhD program was a collaborative effort between the University of Ibadan and the University of Benin Nigeria. Also, she has been an Associate Member of the Association of Chartered Certified Accountants (ACCA) since 2010. She obtained a Bachelor of Science in Economics (B.Sc. Economics) from Covenant University, Ota, Ogun State in July 2006. After the mandatory National Youth Service Corps, she proceeded to obtain a Master of Science in Economics in 2010; and PhD in Economics in 2019 at the Department of Economics, University of Benin, Edo State, Nigeria. Currently, she is a Lecturer in the Department of Economics, at Redeemer’s University, Nigeria, where she teaches both undergraduate and postgraduate students. Her area of specialization is in the fields of Macroeconomics, Development Economics, Environmental Economics and Financial Economics. She also acts as a reviewer for several reputable journal outlets. Also, she is a member of the Nigerian Economic Society (NES) and has a goal to continue writing and producing high-quality research and publishing the findings in top journals with the ultimate goal of advancing knowledge in the field of Economics.

Ani, Judith Ifunanya

Judith Ifunanya Ani, PhD is a postdoctoral fellow at Walter Sisulu University, South Africa.  She also dedicates her time to Causes and community services in the Academia including leading Partnerships at DePECOS Institutions and Development Research Centre, Ota, Nigeria. With a research interest in health, gerontology, gender, migration, food security and climate change, she has received awards for her impactful research, contributing to several funded projects.

Chisaa Onyekachi Igbolekwu

Chisaa Onyekachi Igbolekwu holds a Doctorate in Sociology from the University of Ibadan Nigeria. She is currently the Technical Manager at Direct Consulting and Logistics (DCL), a public health development company and Nigeria implementing partner for the International Vaccine Access Centre (IVAC), Johns Hopkins University Blomberg University USA. Dr Chisaa Onyekachi Igbolekwu is interested in public health, gender issues, women’s health, fertility, adolescent wellbeing, Vaccine/Immunization, development issues and crime. She has published several articles on these issues in national and international Journals.

Funlayo, A. K., Adeleke, O. K., Ifunanya, A. J., & Igbolekwu, C. O. (2024). Financial Digital Inclusion and Women’s Empowerment in the Fourth Industrial Revolution: Evidence from Nigeria. Sustainability Quest, 1(1), 1-12. https://doi.org/10.36923/SQ.v1i1.240
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Funlayo, A. K., Adeleke, O. K., Ifunanya, A. J., & Igbolekwu, C. O. (2024). Financial Digital Inclusion and Women’s Empowerment in the Fourth Industrial Revolution: Evidence from Nigeria. Sustainability Quest, 1(1), 1-12. https://doi.org/10.36923/SQ.v1i1.240

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