International Journal of Business and Social Science

ISSN 2219-1933 (Print), 2219-6021 (Online)

An Empirical Investigation into the Prospects of Micro-Insurance in Some Selected Rural Areas of Sokoto State, Nigeria
Shuaibu Mukhtar

Abstract
This study investigates the prospects of micro-insurance in the rural areas of Nigeria, while Sokoto State was used as case study. The data used in this study is cross sectional and was collected from a sample of 500 respondents, who were contacted through a structured questionnaire. The data collected was analyzed using logit regression model and the study revealed that income level, educational attainment and property ownership as well as availability of infrastructural facilities in the rural areas have positive influence on the prospects of Micro-Insurance in the rural areas of Nigeria. The study recommended that income level of the rural dwellers should be taken into consideration while setting premium, efforts to provide, at least basic education in the areas, should be intensified. It is also suggested that serious mobilization and sensitization programs should precede the introduction of Micro-Insurance. Micro-insurance in rural areas should place more emphasis on farming, being the major occupation in the rural areas. As such, we recommended for Agricultural Micro-insurance in rural Nigeria, at least at start.

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