Staff View: Financial inclusion, socioeconomic shocks and social protection in Nigeria amidst COVID-19 pandemic

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

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 live...

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Main Authors:	Osabohien R., Jaaffar A.H., Yusoff N.Y.M., Ibrahim J., Aderemi T.A., Khalid A.A., Yew L.K., Ovat O.O.
Other Authors:	57201922189
Format:	Article
Published:	EnPress Publisher, LLC 2025
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id	my.uniten.dspace-37034
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spelling	my.uniten.dspace-370342025-03-03T15:46:48Z Financial inclusion, socioeconomic shocks and social protection in Nigeria amidst COVID-19 pandemic Osabohien R. Jaaffar A.H. Yusoff N.Y.M. Ibrahim J. Aderemi T.A. Khalid A.A. Yew L.K. Ovat O.O. 57201922189 58897806500 55812094300 58846396400 57337258400 58796942500 57214124321 58186225300 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. ? 2024 by author(s). Final 2025-03-03T07:46:48Z 2025-03-03T07:46:48Z 2024 Article 10.24294/jipd.v8i7.3616 2-s2.0-85201568963 https://www.scopus.com/inward/record.uri?eid=2-s2.0-85201568963&doi=10.24294%2fjipd.v8i7.3616&partnerID=40&md5=7d19b20dc2dbbbaf6559e5e03e8cc088 https://irepository.uniten.edu.my/handle/123456789/37034 8 7 3616 All Open Access; Gold Open Access EnPress Publisher, LLC Scopus
institution	Universiti Tenaga Nasional
building	UNITEN Library
collection	Institutional Repository
continent	Asia
country	Malaysia
content_provider	Universiti Tenaga Nasional
content_source	UNITEN Institutional Repository
url_provider	http://dspace.uniten.edu.my/
description	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. ? 2024 by author(s).
author2	57201922189
author_facet	57201922189 Osabohien R. Jaaffar A.H. Yusoff N.Y.M. Ibrahim J. Aderemi T.A. Khalid A.A. Yew L.K. Ovat O.O.
format	Article
author	Osabohien R. Jaaffar A.H. Yusoff N.Y.M. Ibrahim J. Aderemi T.A. Khalid A.A. Yew L.K. Ovat O.O.
spellingShingle	Osabohien R. Jaaffar A.H. Yusoff N.Y.M. Ibrahim J. Aderemi T.A. Khalid A.A. Yew L.K. Ovat O.O. Financial inclusion, socioeconomic shocks and social protection in Nigeria amidst COVID-19 pandemic
author_sort	Osabohien R.
title	Financial inclusion, socioeconomic shocks and social protection in Nigeria amidst COVID-19 pandemic
title_short	Financial inclusion, socioeconomic shocks and social protection in Nigeria amidst COVID-19 pandemic
title_full	Financial inclusion, socioeconomic shocks and social protection in Nigeria amidst COVID-19 pandemic
title_fullStr	Financial inclusion, socioeconomic shocks and social protection in Nigeria amidst COVID-19 pandemic
title_full_unstemmed	Financial inclusion, socioeconomic shocks and social protection in Nigeria amidst COVID-19 pandemic
title_sort	financial inclusion, socioeconomic shocks and social protection in nigeria amidst covid-19 pandemic
publisher	EnPress Publisher, LLC
publishDate	2025
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score	13.250246

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

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