An Analysis of the Legal Challenges Facing Women Entrepreneurs in Accessing Business Finance in Plateau State

Women entrepreneurs in Plateau State, North Central Nigeria, face structural legal barriers to accessing formal business finance, compounded by discriminatory customary law practices regarding land tenure, spousal consent requirements, and collateral limitations. This study analyses the legal dimensions of financing barriers experienced by 100 women business owners in Jos North and Jos South Local Government Areas. A mixed-methods approach combining doctrinal analysis of relevant statutes and interview data was adopted. Legal instruments examined include the Land Use Act 1978, the Banks and Other Financial Institutions Act, the Secured Transactions in Movable Assets Act, and the Married Women Property Law of Plateau State. Results indicate that 61 percent of respondents identified land ownership restrictions under the Land Use Act as a barrier to mortgage-based financing. Spousal consent clauses retained in several bank lending policies were reported as discriminatory by 48 percent of respondents. The Secured Transactions in Movable Assets Act 2017, which permits movable property as collateral, was largely unknown among respondents and unenforced by lending institutions. The study concludes that while statutory reforms have introduced gender-neutral financing mechanisms, implementation remains weak. Recommendations include removal of spousal consent requirements from bank policies, sensitisation of financial institutions on the Secured Transactions framework, and legal aid for women entrepreneurs navigating collateral disputes in the North Central zone.

Keywords: women entrepreneurs, business finance, Land Use Act, secured transactions, Plateau State