Women constitute a vital resource in developing economies: they account for over half the food produced in these countries; consist of one-fourth of the industrial labour force, additionally fetching most of the household's water and fuelwood, and are responsible for childcare and household chores. They could even contribute far more to the economy if their opportunities to do that were not so constrained. A particular example of this from Nigeria is that women suffer the disability of nonaccess to bank credit. Yet such credit removes financial constraints and poverty, accelerates the adoption of new technologies and national/personal incomes, apart from raising productivity and employment Unfortunately, in a recent survey by the author (1991), it was found out that the major reasons for the limited use of bank credit by Nigerian women include lack of awareness of the benefits of credit facilities emanating from limited education (as evidenced by low enrolment and literacy levels), few women in business, and dependence on their husbands as breadwinners. The author stresses the point that education, along with income generation capacity, is necessary to enable women to participate equally in the development process. The objectives of this paper can be identified as follows: exposition of the relationship between women's education and national development; highlighting the state of women's education in Nigeria and drawing from empirical work the negative effect of such state of education on their use of bank credit, and to proffer policy recommendations as a challenge for the twenty-first century. The connection between women's education and national development is examined and the significance of bank credit is explored. The paper concludes with policy implications and challenges for the twenty-first century.
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