Gender Wealth Gap in Asset Ownership and Household Welfare in Lagos State, Nigeria

Abstract

This article examines the welfare implication of the asset gap of a range of assets owned by the principal couples in Lagos State, Nigeria households. Primary data was collected from 1000 households in Lagos State, selected through a multistage sampling procedure. The simple regression analysis and Levene’s T-test both show that there is a wealth gap in Lagos State. As for the descriptive analysis, as regards land ownership three-quarters of the total land wealth belongs to the male respondents. Although the business asset gap is in favour of female respondents, the wealth gap is not, because the value of the businesses the male respondents have is greater than that of the female respondents. As regards welfare, the result shows that the welfare of respondents, which is captured by the decision-making process in household expenditure and the basic amenities used by household members, is affected by the household gender wealth gap. Therefore, the reduction of this gap is key to the overall development process of the State and the nation as a whole because gender equality promotes equity and inclusive development. Knowledge of the gender asset gap will set policymakers on the right path to take in the developmental process affecting women and children and hence curb intergenerational poverty. The study recommends, among others, that policies should be put in place to promote an enabling environment for women to be able to accumulate assets.