Review of Geospatial Information Technology for the Implementation of Financial Inclusion to Farmers in Nigeria

Thomas U. Omali¹

Section:Review Paper, Product Type: Journal-Paper
Vol.9 , Issue.4 , pp.44-50, Dec-2021

Online published on Dec 31, 2021

Copyright © Thomas U. Omali . This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
 

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Abstract :
The smallholder agricultural sector in Nigeria occupy a substantial position in the country’s economy. However, this agricultural segment is seemingly threatened with inaccessibility to the required finances with which to obtain the necessary materials needed to achieve the desired farm boost and yield. The focus of this study is on the implementation of financial inclusion to farmers in Nigeria, with emphasis on the role of geospatial technology. This study demonstrates that financial inclusion can improve the effectiveness and efficient government–to–person payments, which play an important role in the welfare of many poor people. However, despite the success made so far with regards to financial inclusion in line with global trends, many Nigerians are financially excluded. But the application of geospatial technology can reduce the transactional costs of reaching rural farmers and, ultimately, make finance more affordable for smallholder farmers.

Key-Words / Index Term :
Agriculture, banks, microcredit, rural, stakeholders

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