Pos Business and Socioecinomic Development in Nigeria 2021 - 2024

ABSTRACT POS business has gained popularity in the Nigerian economic sector cutting across different businesses and creating employment opportunities for all age brackets. It also serves as a boost for thousands of business ventures across Nigeria. The POS sector has experienced significant growth over the years brought about by technological advancements and policy initiatives aimed at fostering financial inclusion and regulating cash flow in the country. Hence, this study investigates empirically the POS sector in Nigeria and its socioeconomic impacts from 2021 to 2024. This study sets to unravel the underlying impact the POS sector has on socioeconomic trends like; employment, financial inclusion, economic growth, poverty etc. The study intends to answer the following questions; has easy access to funds through Point of Sale (POS) businesses enhanced financial inclusion and economic growth in Nigeria? Has the spread of POS business enhanced employment generation in Nigeria? This project will be analyzed with the use of modernization theory. Descriptive research design will be used to analyze our findings. Mixed method of data collection comprising of primary data from surveys (questionnaire )and secondary data from online materials will be adopted for the research. Findings reveal that POS business significantly contributed to Nigeria's socioecinomic development, foresters financial inclusion and creates employment opportunities. Keywords: Financial Inclusion, employment generation, financial exclusion, socioecinomic development, economic growth POS business, Nigeria.