This study investigated the various factors that impede both the access to
and use of the requisite financial resources for entrepreneurial
development in Nigeria. Data was collected via a survey questionnaire
administered on micro-entrepreneurs in Ilorin, Kwara State, Nigeria. A
measurement model using the structural equation modeling approach
was adopted. The paper concluded that both the voluntary and
involuntary financial exclusion factors significantly account for
financial exclusion in Nigeria. However, voluntary exclusion signals
more problem. This is because it is a reflection of lack of use, rather
than lack of access to financial services by the poor.