Nigeria, April 4 -- Only six per cent of women in Nigeria have access to credit despite access to finance in Nigeria progressing from 56 per cent in 2023 to 64 per cent in 2024, a global non-profit group, Women's World Banking, has said.

The information was contained in the group's Digital Credit Activation Toolkit, which was launched last month in Lagos, South-west Nigeria.

Access to formal finance remains a challenge in Nigeria, going by the data available.

Formal finance is capital sourced from banks and other formal financial intermediaries while informal finance is capital sourced from relatives and private lenders.

The Digital Credit Activation Toolkit, according to Women's World Banking, is to help financial service providers p...