Exploratory Analysis on Sources of Finance for Rural Women Farmers Empowerment in Northeastern Nigeria

Rural women farmers in Northeastern Nigeria face significant challenges in accessing finance, which limits their capacity for economic empowerment and agricultural development. This study conducts an exploratory analysis of the various sources of finance available to these women, focusing on the accessibility, utilization, and impact of different financial options. The objective is to identify key financial sources contributing to the economic empowerment of rural women in the region, guided by Mayoux‟s Feminist Empowerment Theory. A quantitative design was utilized, with data collected through surveys using a five-point Likert scale questionnaire administered via the Kobo Collect tool. Descriptive and inferential statistics were applied to analyse the data, with model specifications conducted using Structural Equation Modelling (SEM) on AMOS. Control variables included respondents' age, years of experience, and education level. The study population consisted of 833,455 registered rural women farmers, with a sample size of 1,146 selected through a multi-stage cluster sampling technique. Results indicated that access to various financial sources significantly empowers rural women farmers, evidenced by a t-value of 0.785 and a standardized Beta (β) of 0.780. An R² value of 0.70 highlighted microfinance loans as a primary financial source. The findings demonstrate significant correlations between financial access and improvements in productivity, income, and decision-making autonomy among rural women. The study concludes with policy recommendations to enhance financial inclusion, focusing on expanding access to diverse financial services to support rural women farmers effectively.