Financial Inclusion and Micro, Small and Medium Enterprises (MSMES) Development in Nigeria

This study investigated the financial inclusions and micro, small and medium enterprises (MSMEs) development in Nigeria. The methodology adopted for evaluating the model is the multiple linear regression method. This choice of method is necessitated by the nature of the study, which is an analysis of relationships among variables. The statistical methods used included the Unit root test, the Cointegration test, and the error correction model. Data was sourced from CBN statistical Bulletin 1981-2019. The results show that, whereas financial inclusion positively and significantly impacts the operations and development of MSMEs, distance to financial services, access points, and infrastructural deficiency challenge fast and effective access to financial services by MSMEs in Nigeria. The study recommends that deliberate efforts be made to spread access points to more rural areas and improve infrastructure to promote FI. This should include a policy roadmap for expanding financial services access points to unbanked and underserved areas using the financial services geospatial map