Mobile Money Usage and Digital Lending Access as Predictors of Green Entrepreneurship in Nigeria

This study investigates the impact of mobile money and digital lending platforms on green entrepreneurship in Nigeria. The aim and objectives of the study is to examine the impact of mobile money and digital lending platforms on the growth and development of green entrepreneurship in Nigeria. The study was guided with a hypothesis formulated for testing the significance. The correlational research design was adopted; a sample size 600 respondents was drawn from the target population 5705, using the purposive sampling technique. The instrument for data collection was a self-constructed structured questionnaire which had been validated and subjected to Cronbach alpha reliability indexes of .799, .836 and .829 for each measure. The data collection was done after administration and retrieval of questionnaires with the help of trained research assistants from the various sampled states. Out of the 600 questionnaires administered, 522 questionnaires were retrieved and used for analysis. The analysis of data was done using descriptive and inferential statistics with the aid of IBM Statistical Package for Social Science (SPSS) version 26.0; The results indicated Mobile Money Usage with β=.528 had a moderate positive predictor on green entrepreneurship while Digital Lending Access with β = .348 had a low positive predictor on green entrepreneurship. The study also revealed that mobile money usage and digital lending access can predict green entrepreneurship in Nigeria (p < 0.05). The study concluded that mobile money usage and access to digital lending are significant predictors of green entrepreneurship in Nigeria. However, the study recommended that; digital financial inclusion policies should be strengthening by expanding mobile money infrastructure, especially in rural and underserved areas, to support green entrepreneurs; and regulatory support for digital lending platforms should be improve for transparency, affordability and consumer protection for green entrepreneurs.

Mobile Money Usage, Digital Lending Access, Green Entrepreneurship, Nigeria

1. Ahunanya, O. V. (2025). Impact of financial inclusion on green investments in rural areas of Nigeria. International Journal of Research and Innovation in Social Science (IJRISS), IX(III), 780-792. DOI: 10.47772/IJRISS. [Google Scholar] [Crossref]

2. Akitunde, A. (2020, February 12). Digital lending in Nigeriahttps://www.google.com/url?sa=t&source=web&rct=j&url=https://www.linkedin.com/pulse/digital-lending-nigeria-akitobi-akitunde-sfc-ssyb-acib-&ved=2ahUKEwiV1-rsm932AhUGiFwKHcTCDkcQjjh6BAgSEAE&usg=AovVaw1BZQshMUfHd-_QR7KkANrm. [Google Scholar] [Crossref]

3. Ancoriabank, (2024, November 11). Digital lending 101: A guide to modern borrowing solutions. https://www.ancoriabank.com/blog/what-is-digital-lending-in-banking/. [Google Scholar] [Crossref]

4. Bunmi Bailey, B. (2021, December 16). Consumer lending to rise 21% by Year End. https://businessday.ng/amp/business-economy/article/nigerias-consumer-lending-expected-to-rise-by-21-in-2021/l accessed 24 March 2022. [Google Scholar] [Crossref]

5. Charles, E., Wachukwu, E. & Ekakitie, E. R. (2025). Students’ perception on the impact of teaching with technology and interest in academic work in South – South Geo–Political Zone of Nigeria. Journal of Political Discourse, 3(1, 2), 33-43. [Google Scholar] [Crossref]

6. Chen, J. (2021 February 22), Unsecured loan. https://www.investopedia.com/terms/u/unsecuredloan.asp#:~:text=An%20unsecured%20loan%20is%20a,student%20loans%2C%20and%20credit%20cards. [Google Scholar] [Crossref]

7. Entrepreneurs Data (2025). Green Entrepreneurship: Definition, Characteristics & Importance. https://www.entrepreneursdata.com/green-entrepreneurship-definition/ [Google Scholar] [Crossref]

8. Ezinwa, C. I., & Bello, S. A. (2025). The impact of fintech on financial inclusion in Southern Nigeria. DOI: https://dx.doi.org/10.47772/IJRISS.2025.9020022 [Google Scholar] [Crossref]

9. Fiche, J. (2021, November 26). Green Entrepreneurship: What It Is, Importance, How It Works. https://www.clickcardapp.com/blog/green-entrepreneurship-importance-how-works. [Google Scholar] [Crossref]

10. GSMA (2025, October 16). The state of mobile money usage – how many people use mobile money globally? https://www.gsma.com/solutions-and-impact/connectivity-for-good/mobile-for-development/ programme/mobile-money/the-state-of-mobile-money-usage-how-many-people-use-mobile-mone y-globally/ [Google Scholar] [Crossref]

11. Gupta, M., & Dharwal, M. (2022). Green entrepreneurship and sustainable development: A conceptual framework. 49(8), 3603-3606. [Google Scholar] [Crossref]

12. Ibrahim, N. (2025, May 13). Sustainable technology and green entrepreneurship: cultivating a vibrant future in Nigeria. https://sun.edu.ng/sustainable-technology-and-green-entrepreneurship-cultivating-a-vibrant-future-in-nigeria/. [Google Scholar] [Crossref]

13. Leon, H. F. M., & Lestari. H. S. (2025). The impact of green credit, green CSR, and digital financial inclusion on profitability in ASEAN banks. Journal of Economics, Management and Trade 31(8), 159-171. https://doi.org/10.9734/jemt/2025/v31i81340. [Google Scholar] [Crossref]

14. McKinsey & Company. (2020). Harnessing Nigeria’s fintech potential. Retrieved from https://www.mckinsey.com/featured-insights/middle-east-and-africa/harnessing-nigerias-fintech-potentia. [Google Scholar] [Crossref]

15. Oboma, N. (2024, July 25). Digital lending in Nigeria: A closer look at Nigeria’s regulatory landscape. https://thefirmaadvisory.com/new-blog/2024/7/25/digital-lending-in-nigeria-a-closer-look-at-nigerias-regulatory-landscape [Google Scholar] [Crossref]

16. Oluwole, V. (2022, January 5). Best Instant Personal Loan Apps in Nigeria with Lowest Interest Rates’ (Business Insider Africa. https://africa.businessinsider.com/local/lifestyle/best-instant-personal-loan-apps-in-nigeria-with-lowest-interest-rates-2022/dkwkzs4. [Google Scholar] [Crossref]

17. Phillips, O. (2020 September, 3). Regulations of digital lending in Nigeria. https://www.spaajibade.com/resources/regulation-of-digital-lending-in-nigeria-olayanju-phillips/ [Google Scholar] [Crossref]

18. Skeps (2021, November 11). What is digital lending? https://www.skeps.com/blog/what-is-digital-lending-skp. [Google Scholar] [Crossref]

19. Śledzik K., (2013), Schumpeter’s view on innovation and entrepreneurship (in Management Trends in Theory and Practice, (ed.) Stefan Hittmar, Faculty of Management Science and Informatics, University of Zilina & Institute of Management by University of Zilina. [Google Scholar] [Crossref]

20. Song, Y., Gong, Y., & Song, Y. (2024). The impact of digital financial development on the green economy: An analysis based on a volatility perspective. Journal of Cleaner Production, 434, 1-14. [Google Scholar] [Crossref]

21. Talom, F. S. G. & Tengeh, R. K. (2020). The impact of mobile money on the financial performance of the SMEs in Douala, Cameroon. Sustainability, 12(183), 1-17. Doi:10.3390/su12010183 [Google Scholar] [Crossref]

22. WorldRemit (2024). Mobile money. https://www.worldremit.com/en/faq/mobile-money [Google Scholar] [Crossref]

• The Impact of Ownership Structure on Dividend Payout Policy of Listed Plantation Companies in Sri Lanka
• Urban Sustainability in North-East India: A Study through the lens of NER-SDG index
• Performance Assessment of Predictive Forecasting Techniques for Enhancing Hospital Supply Chain Efficiency in Healthcare Logistics
• The Fractured Self in Julian Barnes' Postmodern Fiction: Identity Crisis and Deflation in Metroland and the Sense of an Ending
• Impact of Flood on the Employment, Labour Productivity and Migration of Agricultural Labour in North Bihar