Household Assets and Rural Finance in Nigeria


  • Onafowokan Oluyombo Department of Financial Studies, Redeemer’s University, Km. 46, Lagos – Ibadan Expressway, Ogun State, Nigeria. Tel: +23 48034925479, E-mail:


assets, rural finance, cooperative, standard of living, informal finance


The study assesses the roles played by the loan service of cooperatives on household assetsacquisition among cooperative members in Ogun State rural communities where there isno bank. Independent student test and one way analysis of variance were used to analyze thedata collected through questionnaire from 302 members. The study shows that the followingassets – land, generator, television, radio and refrigerator – were more likely to be acquired bymembers than non-members. This is an indication of improvement in members’ standard ofliving made possible through access to cooperative loans. The study provided more evidenceon the importance of land ownership, and how this is enhanced when rural communities haveaccess to affordable loans. The study did not find evidence that cooperative members tookadvantage of the program, which is self sustained by their own savings, to acquire buildingsand motor vehicles.

Keywords: Assets, rural finance, cooperative, standard of living, informal finance

JEL Classification: B26, D14, D61, G23


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How to Cite

Oluyombo, O. (2013). Household Assets and Rural Finance in Nigeria. Applied Economics Journal, 20(2), 55–74. Retrieved from



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