THE NIGERIAN JOURNAL OF SOCIOLOGY AND ANTHROPOLOGY
ISSN: 0331-4111 e-ISSN: 2736-075X
Volume 24, No. 1, June 2026
Pages 62-80
DOI: 10.36108/NJSA/6202.42.0140
Beyond Capital: Credit Access and Women’s Empowerment in Ibadan, Nigeria
Temilola H. Olapegba and Nathaniel D. Danjibo
Department of Peace, Security and Humanitarian Studies
University of Ibadan, Nigeria
Abstract
While credit access is often championed as a tool for poverty alleviation, the specific mechanisms through which it translates into economic empowerment for women in the informal sector remain contested, particularly regarding the risks associated with micro-debt. This study examines the nexus between credit access and the economic empowerment of women traders in Bodija Market, Ibadan, focusing on credit sources, the availability of empowerment initiatives, and the resulting impact on their livelihoods. Adopting a qualitative research approach, employing exploratory and case study design, the study utilised in-depth interviews, key informant interviews and focus group discussions to gather primary data from women traders in Bodija, Ibadan, Nigeria. Results reveal that while women primarily access credit through cooperative societies, thrift systems (Ajo), and microfinance institutions, the effectiveness of these channels is often hampered by high interest rates and rigid repayment schedules. Furthermore, existing empowerment initiatives suffer from low awareness and poor implementation, preventing many women from maximizing available opportunities. The study concludes that credit access alone is an insufficient guarantor of economic empowerment; for some, it may even increase financial vulnerability. It is recommended that financial interventions be integrated with business training and financial literacy programmes to ensure the long-term economic stability and business sustainability of women in the informal sector.
Keywords: Bodija market, economic empowerment, credit scheme