Awareness and Perceptions of Digital Financial Services among Smallholder Farmers in Kwara State, Nigeria

Abstract

The study assessed digital financial services (DFS) awareness and perceptions among 237 smallholder farmers in Kwara State, selected through multistage sampling procedure. The data collected using structured interviews were analysed using frequency counts, percentages,   Pearson correlation, and multiple regression. Findings revealed high usage of Point-of-Sale terminals (99.2%) and ATMs (89.5%). Farmers viewed DFS as time-saving (  = 4.14) and convenient for remote access (  = 4.05). Awareness significantly correlated with favourable perceptions (r = 0.337, p < 0.001).  Age (β = −0.248, p = 0.007), education (β = 0.238, p = 0.002), and mobile phone ownership (β = 0.137, p = 0.021) were identified as key determinants, with younger, educated farmers showing more positive perception. The study concludes that smallholder farmers in Kwara State use basic digital financial services, particularly POS, ATMs, and cards, while the use of services such as mobile banking and e-wallets remains low. The study recommends targeted DFS awareness campaigns delivered through extension services and farmer cooperatives, particularly for older and less-educated farmers.