International Journal of Research and Innovation in Social Science
Empirical studies have shown that the outbreak of COVID-19 globally has drastically created a rev... more Empirical studies have shown that the outbreak of COVID-19 globally has drastically created a reversal in the successes earlier recorded by governments’ efforts across nations. This study, therefore, investigated the sources of pre-COVID reduction in poverty and determined the policy options that could best enable the reversal of the setback to poverty reduction in Nigeria. The study employed the Autoregressive Distributed Lag (ARDL) model to analyze time-series data from Nigeria for a period from 1990 to 2020. The result found that while growths arising from ARGDP (share of agriculture to real GDP) and IRGDP (share of industry to real GDP) have negative relationships with growth in the incidence of poverty, growth from SRGDP (share of services to real GDP), though statistically significant at a 5% level, was found to be poverty enhancing. The result also revealed that growth in Human Capital (HC), Inequality (INQ), INQt-1, INFt-1 were found to be statistically significant. INQ and ...
Journal of Economic Cooperation and Development, 2016
Accessibility and prudent utilization of microcredit by the poor can serve as a vital role in pov... more Accessibility and prudent utilization of microcredit by the poor can serve as a vital role in poverty reduction and economic development, particularly in a developing economy. This study examines the factors that determine the accessibility of the poor to microcredit loan in Nigeria. A total sum of 1,134 microfinance loan beneficiaries and non-beneficiaries were sampled from the study area. Descriptive statistics and Logit Regression Model analysis were adopted. The result revealed that Age, Household size, Business worth, Skill/Experience, Education level, Assets, Health standard, Living standard and income are significant in determining the accessibility of the poor to microfinance loan. MFIs should endeavor to create more awareness to the poor and arrange training to enhance human capital development in order to ease accessibility to microcredit.
Journal of economics and sustainable development, 2020
In this study, Difference-in-Differences methodology was used to assess the impact of microfinanc... more In this study, Difference-in-Differences methodology was used to assess the impact of microfinance loan on rural poor in Nigeria. The sample is classified into four groups: the microfinance loan beneficiaries (treatment group) before obtaining the loan and after the programme implementation. Likewise the non-beneficiaries (control group that were also qualified but could not get the loan) were considered before their application for the loan and after the programme was implemented. The result revealed that microfinance loan has favourable contributions to poverty alleviation in the study area. However, there is still need for government aid in order to make the poor people benefit more from the microfinance programme and enhance economic development. Government should support the MFIs with funds that would be disbursed at concessionary interest rates. In addition, provision of more physical, social and economic facilities would encourage the establishment of more MFIs in the rural a...
The study examines the effect of NAPEP loan on socioeconomic development of Ogun state. Structure... more The study examines the effect of NAPEP loan on socioeconomic development of Ogun state. Structured questionnaire was used to collect data from small and medium scale entrepreneurs that operate within markets in the study area. Differences of means and Probit analyses were used to analyze data collected. The study revealed that there is no significant difference in the business worth of the loan beneficiaries and non-beneficiaries (p>0.05). The average expenditure on the dependants was significantly higher for the loan beneficiaries (p<0.05). The probability that a small or medium scale entrepreneur obtain NAPEP loan is positively influenced by age, years of experience and educational status. The probability of being a loan beneficiary was 0.74 the loan beneficiaries should be regularly enlightened on proper used of fund to avoid too much concentration on consumption expenditure at the detriment of their business expansion.
A PROJECT SUBMITTED TO AHMADU BELLO UNIVERSITY, ZARIA IN PARTIAL FULFILLMENT OF THE REQUIREMENTS ... more A PROJECT SUBMITTED TO AHMADU BELLO UNIVERSITY, ZARIA IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR THE AWARD OF THE DEGREE OF MASTER OF BUSINESS ADMINISTRATION DEPARTMENT OF BUSINESS ADMINISTRATION.
The problem of poverty has attracted specific programmes within the circle of Government administ... more The problem of poverty has attracted specific programmes within the circle of Government administrations particularly in Sub-Saharan Africa. One of such programmes is the development strategy tool of provision of microcredit to the poor through Microfinance Institutions (MFIs). Although the issue of the influence of Microfinance loan on poverty reduction has been discussed by some scholars, little efforts have been made to assess the impact of MFIs at the grassroots particularly on those who live in the rural areas. This paper therefore intends to fill the gap in literature by examining the impact of microfinance loan on poverty reduction through the dimension of rural poor income. To achieve this objective, the study adopted multi-stage random sampling technique to collect primary data through the structured questionnaire. A total sample of 1,134 microfinance loan beneficiaries and non-beneficiaries were used as respondents from three states in South- West Nigeria. Descriptive Stat...
Microfinance programme has been generally regarded as a development strategy that can enhance the... more Microfinance programme has been generally regarded as a development strategy that can enhance the economic performance of the poor. The government of Nigeria has made concerted efforts to alleviate poverty in the country. One of such efforts is Poverty alleviation through Microfinance loan but poverty still remains pervasive and widespread in the country especially in the rural communities. This study examines the role of microfinance vis-à-vis poverty reduction particularly in the SouthWest Zone of Nigeria. Data were collected through survey questionnaire in the study area. Descriptive Statistics together with Binary Logit Regression Model were employed to analyse the data collected. The result of the analyses revealed that microfinance loan made significant impact on the loan beneficiaries in the study area which lead to poverty reduction. The government is advised to provide more enabling environment to make Microfinance operations more effective in the country particularly in the rural areas. Microfinance Institutions are implored to create more awareness on their operations and make less stringent conditions for the loan accessibility.
International Journal of Business and Society, 2017
It is a truism that if Microfinance Institutions (MFIs) play their expected role, poverty will re... more It is a truism that if Microfinance Institutions (MFIs) play their expected role, poverty will reduce and there will be more employment opportunity and adequate economic development particularly in the rural areas. Poverty is more devastating in Sub-Saharan Africa than the rest of the world. This paper examines the contributions of microfinance towards the rural poverty reduction. To achieve this objective, the study adopted multi-stage random sampling technique to collect primary data through the structured questionnaire. A total sample of 1,134 microfinance loan beneficiaries and non-beneficiaries were used as respondents from three (Ogun, Osun and Oyo states) out of six states in South- West Nigeria. Statistical Percentage Techniques were used to describe the characteristics of the sample from the study. The results revealed that microfinance has marginal effects on the rural poor in Southwest Nigeria. Policy makers are advised to provide adequate infrastructural facilities that ...
Proceedings of International Conference on New Trends in Management, Business, and Economics, 2021
The concept of microfinance through the Microfinance Institutions (MFIs) is to assist the Small a... more The concept of microfinance through the Microfinance Institutions (MFIs) is to assist the Small and Medium Scale enterprises (SMEs) to increase productivity, create jobs and help eradicate poverty. This study was established to examine the impact of microfinance loans on the performance of SMEs. To achieve this objective, both descriptive and quantitative research design methods were adopted for the study. The data gathered were analyzed to provide insight into the impact of credit management practices on organizational performance and profitability. The result shows that MFIs can serve as bedrock for the growth of SMEs, economic development and grass root transformation. It is recommended that government should properly overhaul microfinance programmes in order to achieve the objective of poverty reduction through the disbursement of credit to SMEs. Also, there is need for more strategies and proactive measures to make MFIs and SMEs the agents of economic development in Nigeria. In addition, more awareness should be created for microfinance programmes by the operators to attract SMEs and the poor and downtrodden.
Achieving success in any business firm requires a formidable credit management with critical cust... more Achieving success in any business firm requires a formidable credit management with critical customer appraisal. This study, therefore, aims at establishing the relationship between the credit management and financial performance in financial institutions in Nigeria. To achieve this objective, the study adopted descriptive survey research design method and data were collected from the staff and customers of two selected prominent financial institutions in Nigeria. Correlation and Regression analyses were used to estimate the causal relationships between credit management and financial performance and other related variables. The results of the analyses revealed that when a company implements effective credit management systems, the firm’s efficiency is enhanced. This has an impact on the level of financial performance in terms of debtors’ turnover, financial growth, management and ultimately profitability. It was recommended that financial institutions should take proper cognizance ...
The study examines the effect of NAPEP loan on socioeconomic development of Ogun state. Structure... more The study examines the effect of NAPEP loan on socioeconomic development of Ogun state. Structured questionnaire was used to collect data from small and medium scale entrepreneurs that operate within markets in the study area. Differences of means and Probit analyses were used to analyze data collected. The study revealed that there is no significant difference in the business worth of the loan beneficiaries and non-beneficiaries (p>0.05). The average expenditure on the dependants was significantly higher for the loan beneficiaries (p<0.05). The probability that a small or medium scale entrepreneur obtain NAPEP loan is positively influenced by age, years of experience and educational status. The probability of being a loan beneficiary was 0.74 the loan beneficiaries should be regularly enlightened on proper used of fund to avoid too much concentration on consumption expenditure at the detriment of their business expansion.
Journal of Biology Agriculture and Healthcare, 2015
The problem of poverty has attracted specific programmes within the circle of Government administ... more The problem of poverty has attracted specific programmes within the circle of Government administrations particularly in Sub-Saharan Africa. One of such programmes is the development strategy tool of provision of microcredit to the poor through Microfinance Institutions (MFIs). Although the issue of the influence of Microfinance loan on poverty reduction has been discussed by some scholars, little efforts have been made to assess the impact of MFIs at the grassroots particularly on those who live in the rural areas. This paper therefore intends to fill the gap in literature by examining the impact of microfinance loan on poverty reduction through the dimension of rural poor income. To achieve this objective, the study adopted multi-stage random sampling technique to collect primary data through the structured questionnaire. A total sample of 1,134 microfinance loan beneficiaries and non-beneficiaries were used as respondents from three states in SouthWest Nigeria. Descriptive Statistics and Multiple Regression Model were explored to describe the characteristics of the sample for the study and evaluate the impact. The results revealed that microfinance has negligible income effects on the rural poor in Nigeria. To this end, the Government is advised to provide necessary amenities that will encourage MFIs to establish branches in the rural areas; and implement more supportive services like education and training on entrepreneurship and health facilities. MFIs should engage cheap labour available in the rural areas and train them for effective performance and easy penetration to the rural poor. .
European Journal of Economics, Law and Politics, 2015
It is an established fact that if Development Finance Institutions like Microfinance Institutions... more It is an established fact that if Development Finance Institutions like Microfinance Institutions are accessible to the poor, they would enhance their productivity and capability to procure assets and necessary facilities that can encourage productive investment. This will therefore reduce poverty as it is clear that the poor does not lack initiative but only constrained by finance. One of the economic measures embarked upon by the governments in most part of the world to combat poverty is the microcredit through microfinance banks. Microfinance has been used on several occasions to reduce poverty, in rural areas in particular which are believed to harbour the poorest people in the world. It is an important aid that can improve the economic performance of the poor. In Nigeria, government had made concerted efforts to alleviate poverty, but poverty still remains pervasive and widespread especially in the rural communities. This paper examines the policies and programmes of poverty alleviation in Nigeria with respect to the effect of microfinance. Exploratory method was used to review the relevant literature in order to discover the extent of the impact of these programmes on the targeted poor masses. The authors conclude that in order to make Microfinance achieve the poverty alleviation objective in Nigeria, the Government would have to provide basic infrastructural and social facilities
The problem of poverty has attracted specific programmes within the circle of Government administ... more The problem of poverty has attracted specific programmes within the circle of Government administrations particularly in Sub-Saharan Africa. One of such programmes is the development strategy tool of provision of microcredit to the poor through Microfinance Institutions (MFIs). Although the issue of the influence of Microfinance loan on poverty reduction has been discussed by some scholars, little efforts have been made to assess the impact of MFIs at the grassroots particularly on those who live in the rural areas. This paper therefore intends to fill the gap in literature by examining the impact of microfinance loan on poverty reduction through the dimension of rural poor income. To achieve this objective, the study adopted multi-stage random sampling technique to collect primary data through the structured questionnaire. A total sample of 1,134 microfinance loan beneficiaries and non-beneficiaries were used as respondents from three states in SouthWest Nigeria. Descriptive Statis...
International Journal of Innovative Research and Development
Abstract: In view of the failure of economic growth that characterized most of the developing eco... more Abstract: In view of the failure of economic growth that characterized most of the developing economies to result in substantial reduction in their poverty incidences, several attempts have been advanced the missing link between these variables. This study, therefore, investigated the impact of patterns of growth and socioeconomic variables on poverty reduction in Nigeria from 1981-2018. To achieve this, the study applied Autoregressive Distributed Lag (ARDL) technique to analyse time-series data sourced from Central Bank of Nigeria (CBN), National Bureau of Statistics (NBS) and World Development Indicators (WDI). The findings revealed that for both the long-run and short-run, growth in RGDP per capital emanating from agriculture (PCA) and industry (PCI) as well as inequality (INQ), inflation (INF), human capital (HC) and unemployment (UMP) have significant long-run relationship with poverty reduction at various levels of significant. Further to this, the short-run estimated results reveal that the lagged values of poverty reduction, pattern of growth, inequality, inflation, unemployment and human capital development have significant impact on poverty reduction for the present period. The study, therefore, concluded that even though all the variables have long- run and short-run relationship with poverty reduction in Nigeria, only the results for the variables PCA, PCI, INQ, INF, HC and UMP are statistically significant. Of all these variables that are statistically significant, growth in PCA and/or reduction in INQ have the highest potentials of achieving poverty reduction in Nigeria. Therefore, any policy formulation that is aimed at reducing poverty incidence in Nigeria must provide support to the agriculture sector and address the issue of income distribution.
It is an established fact that if Development Finance Institutions like
Microfinance Institutions... more It is an established fact that if Development Finance Institutions like Microfinance Institutions are accessible to the poor, they would enhance their productivity and capability to procure assets and necessary facilities that can encourage productive investment. This will therefore reduce poverty as it is clear that the poor does not lack initiative but only constrained by finance. One of the economic measures embarked upon by the governments in most part of the world to combat poverty is the microcredit through microfinance banks. Microfinance has been used on several occasions to reduce poverty, in rural areas in particular which are believed to harbour the poorest people in the world. It is an important aid that can improve the economic performance of the poor. In Nigeria, government had made concerted efforts to alleviate poverty, but poverty still remains pervasive and widespread especially in the rural communities. This paper examines the policies and programmes of poverty alleviation in Nigeria with respect to the effect of microfinance. Exploratory method was used to review the relevant literature in order to discover the extent of the impact of these programmes on the targeted poor masses. The authors conclude that in order to make Microfinance achieve the poverty alleviation objective in Nigeria, the Government would have to provide basic infrastructural and social facilities that could encourage the Microfinance Institutions to establish branches in the rural areas and function effectively.
International Journal of Research and Innovation in Social Science
Empirical studies have shown that the outbreak of COVID-19 globally has drastically created a rev... more Empirical studies have shown that the outbreak of COVID-19 globally has drastically created a reversal in the successes earlier recorded by governments’ efforts across nations. This study, therefore, investigated the sources of pre-COVID reduction in poverty and determined the policy options that could best enable the reversal of the setback to poverty reduction in Nigeria. The study employed the Autoregressive Distributed Lag (ARDL) model to analyze time-series data from Nigeria for a period from 1990 to 2020. The result found that while growths arising from ARGDP (share of agriculture to real GDP) and IRGDP (share of industry to real GDP) have negative relationships with growth in the incidence of poverty, growth from SRGDP (share of services to real GDP), though statistically significant at a 5% level, was found to be poverty enhancing. The result also revealed that growth in Human Capital (HC), Inequality (INQ), INQt-1, INFt-1 were found to be statistically significant. INQ and ...
Journal of Economic Cooperation and Development, 2016
Accessibility and prudent utilization of microcredit by the poor can serve as a vital role in pov... more Accessibility and prudent utilization of microcredit by the poor can serve as a vital role in poverty reduction and economic development, particularly in a developing economy. This study examines the factors that determine the accessibility of the poor to microcredit loan in Nigeria. A total sum of 1,134 microfinance loan beneficiaries and non-beneficiaries were sampled from the study area. Descriptive statistics and Logit Regression Model analysis were adopted. The result revealed that Age, Household size, Business worth, Skill/Experience, Education level, Assets, Health standard, Living standard and income are significant in determining the accessibility of the poor to microfinance loan. MFIs should endeavor to create more awareness to the poor and arrange training to enhance human capital development in order to ease accessibility to microcredit.
Journal of economics and sustainable development, 2020
In this study, Difference-in-Differences methodology was used to assess the impact of microfinanc... more In this study, Difference-in-Differences methodology was used to assess the impact of microfinance loan on rural poor in Nigeria. The sample is classified into four groups: the microfinance loan beneficiaries (treatment group) before obtaining the loan and after the programme implementation. Likewise the non-beneficiaries (control group that were also qualified but could not get the loan) were considered before their application for the loan and after the programme was implemented. The result revealed that microfinance loan has favourable contributions to poverty alleviation in the study area. However, there is still need for government aid in order to make the poor people benefit more from the microfinance programme and enhance economic development. Government should support the MFIs with funds that would be disbursed at concessionary interest rates. In addition, provision of more physical, social and economic facilities would encourage the establishment of more MFIs in the rural a...
The study examines the effect of NAPEP loan on socioeconomic development of Ogun state. Structure... more The study examines the effect of NAPEP loan on socioeconomic development of Ogun state. Structured questionnaire was used to collect data from small and medium scale entrepreneurs that operate within markets in the study area. Differences of means and Probit analyses were used to analyze data collected. The study revealed that there is no significant difference in the business worth of the loan beneficiaries and non-beneficiaries (p>0.05). The average expenditure on the dependants was significantly higher for the loan beneficiaries (p<0.05). The probability that a small or medium scale entrepreneur obtain NAPEP loan is positively influenced by age, years of experience and educational status. The probability of being a loan beneficiary was 0.74 the loan beneficiaries should be regularly enlightened on proper used of fund to avoid too much concentration on consumption expenditure at the detriment of their business expansion.
A PROJECT SUBMITTED TO AHMADU BELLO UNIVERSITY, ZARIA IN PARTIAL FULFILLMENT OF THE REQUIREMENTS ... more A PROJECT SUBMITTED TO AHMADU BELLO UNIVERSITY, ZARIA IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR THE AWARD OF THE DEGREE OF MASTER OF BUSINESS ADMINISTRATION DEPARTMENT OF BUSINESS ADMINISTRATION.
The problem of poverty has attracted specific programmes within the circle of Government administ... more The problem of poverty has attracted specific programmes within the circle of Government administrations particularly in Sub-Saharan Africa. One of such programmes is the development strategy tool of provision of microcredit to the poor through Microfinance Institutions (MFIs). Although the issue of the influence of Microfinance loan on poverty reduction has been discussed by some scholars, little efforts have been made to assess the impact of MFIs at the grassroots particularly on those who live in the rural areas. This paper therefore intends to fill the gap in literature by examining the impact of microfinance loan on poverty reduction through the dimension of rural poor income. To achieve this objective, the study adopted multi-stage random sampling technique to collect primary data through the structured questionnaire. A total sample of 1,134 microfinance loan beneficiaries and non-beneficiaries were used as respondents from three states in South- West Nigeria. Descriptive Stat...
Microfinance programme has been generally regarded as a development strategy that can enhance the... more Microfinance programme has been generally regarded as a development strategy that can enhance the economic performance of the poor. The government of Nigeria has made concerted efforts to alleviate poverty in the country. One of such efforts is Poverty alleviation through Microfinance loan but poverty still remains pervasive and widespread in the country especially in the rural communities. This study examines the role of microfinance vis-à-vis poverty reduction particularly in the SouthWest Zone of Nigeria. Data were collected through survey questionnaire in the study area. Descriptive Statistics together with Binary Logit Regression Model were employed to analyse the data collected. The result of the analyses revealed that microfinance loan made significant impact on the loan beneficiaries in the study area which lead to poverty reduction. The government is advised to provide more enabling environment to make Microfinance operations more effective in the country particularly in the rural areas. Microfinance Institutions are implored to create more awareness on their operations and make less stringent conditions for the loan accessibility.
International Journal of Business and Society, 2017
It is a truism that if Microfinance Institutions (MFIs) play their expected role, poverty will re... more It is a truism that if Microfinance Institutions (MFIs) play their expected role, poverty will reduce and there will be more employment opportunity and adequate economic development particularly in the rural areas. Poverty is more devastating in Sub-Saharan Africa than the rest of the world. This paper examines the contributions of microfinance towards the rural poverty reduction. To achieve this objective, the study adopted multi-stage random sampling technique to collect primary data through the structured questionnaire. A total sample of 1,134 microfinance loan beneficiaries and non-beneficiaries were used as respondents from three (Ogun, Osun and Oyo states) out of six states in South- West Nigeria. Statistical Percentage Techniques were used to describe the characteristics of the sample from the study. The results revealed that microfinance has marginal effects on the rural poor in Southwest Nigeria. Policy makers are advised to provide adequate infrastructural facilities that ...
Proceedings of International Conference on New Trends in Management, Business, and Economics, 2021
The concept of microfinance through the Microfinance Institutions (MFIs) is to assist the Small a... more The concept of microfinance through the Microfinance Institutions (MFIs) is to assist the Small and Medium Scale enterprises (SMEs) to increase productivity, create jobs and help eradicate poverty. This study was established to examine the impact of microfinance loans on the performance of SMEs. To achieve this objective, both descriptive and quantitative research design methods were adopted for the study. The data gathered were analyzed to provide insight into the impact of credit management practices on organizational performance and profitability. The result shows that MFIs can serve as bedrock for the growth of SMEs, economic development and grass root transformation. It is recommended that government should properly overhaul microfinance programmes in order to achieve the objective of poverty reduction through the disbursement of credit to SMEs. Also, there is need for more strategies and proactive measures to make MFIs and SMEs the agents of economic development in Nigeria. In addition, more awareness should be created for microfinance programmes by the operators to attract SMEs and the poor and downtrodden.
Achieving success in any business firm requires a formidable credit management with critical cust... more Achieving success in any business firm requires a formidable credit management with critical customer appraisal. This study, therefore, aims at establishing the relationship between the credit management and financial performance in financial institutions in Nigeria. To achieve this objective, the study adopted descriptive survey research design method and data were collected from the staff and customers of two selected prominent financial institutions in Nigeria. Correlation and Regression analyses were used to estimate the causal relationships between credit management and financial performance and other related variables. The results of the analyses revealed that when a company implements effective credit management systems, the firm’s efficiency is enhanced. This has an impact on the level of financial performance in terms of debtors’ turnover, financial growth, management and ultimately profitability. It was recommended that financial institutions should take proper cognizance ...
The study examines the effect of NAPEP loan on socioeconomic development of Ogun state. Structure... more The study examines the effect of NAPEP loan on socioeconomic development of Ogun state. Structured questionnaire was used to collect data from small and medium scale entrepreneurs that operate within markets in the study area. Differences of means and Probit analyses were used to analyze data collected. The study revealed that there is no significant difference in the business worth of the loan beneficiaries and non-beneficiaries (p>0.05). The average expenditure on the dependants was significantly higher for the loan beneficiaries (p<0.05). The probability that a small or medium scale entrepreneur obtain NAPEP loan is positively influenced by age, years of experience and educational status. The probability of being a loan beneficiary was 0.74 the loan beneficiaries should be regularly enlightened on proper used of fund to avoid too much concentration on consumption expenditure at the detriment of their business expansion.
Journal of Biology Agriculture and Healthcare, 2015
The problem of poverty has attracted specific programmes within the circle of Government administ... more The problem of poverty has attracted specific programmes within the circle of Government administrations particularly in Sub-Saharan Africa. One of such programmes is the development strategy tool of provision of microcredit to the poor through Microfinance Institutions (MFIs). Although the issue of the influence of Microfinance loan on poverty reduction has been discussed by some scholars, little efforts have been made to assess the impact of MFIs at the grassroots particularly on those who live in the rural areas. This paper therefore intends to fill the gap in literature by examining the impact of microfinance loan on poverty reduction through the dimension of rural poor income. To achieve this objective, the study adopted multi-stage random sampling technique to collect primary data through the structured questionnaire. A total sample of 1,134 microfinance loan beneficiaries and non-beneficiaries were used as respondents from three states in SouthWest Nigeria. Descriptive Statistics and Multiple Regression Model were explored to describe the characteristics of the sample for the study and evaluate the impact. The results revealed that microfinance has negligible income effects on the rural poor in Nigeria. To this end, the Government is advised to provide necessary amenities that will encourage MFIs to establish branches in the rural areas; and implement more supportive services like education and training on entrepreneurship and health facilities. MFIs should engage cheap labour available in the rural areas and train them for effective performance and easy penetration to the rural poor. .
European Journal of Economics, Law and Politics, 2015
It is an established fact that if Development Finance Institutions like Microfinance Institutions... more It is an established fact that if Development Finance Institutions like Microfinance Institutions are accessible to the poor, they would enhance their productivity and capability to procure assets and necessary facilities that can encourage productive investment. This will therefore reduce poverty as it is clear that the poor does not lack initiative but only constrained by finance. One of the economic measures embarked upon by the governments in most part of the world to combat poverty is the microcredit through microfinance banks. Microfinance has been used on several occasions to reduce poverty, in rural areas in particular which are believed to harbour the poorest people in the world. It is an important aid that can improve the economic performance of the poor. In Nigeria, government had made concerted efforts to alleviate poverty, but poverty still remains pervasive and widespread especially in the rural communities. This paper examines the policies and programmes of poverty alleviation in Nigeria with respect to the effect of microfinance. Exploratory method was used to review the relevant literature in order to discover the extent of the impact of these programmes on the targeted poor masses. The authors conclude that in order to make Microfinance achieve the poverty alleviation objective in Nigeria, the Government would have to provide basic infrastructural and social facilities
The problem of poverty has attracted specific programmes within the circle of Government administ... more The problem of poverty has attracted specific programmes within the circle of Government administrations particularly in Sub-Saharan Africa. One of such programmes is the development strategy tool of provision of microcredit to the poor through Microfinance Institutions (MFIs). Although the issue of the influence of Microfinance loan on poverty reduction has been discussed by some scholars, little efforts have been made to assess the impact of MFIs at the grassroots particularly on those who live in the rural areas. This paper therefore intends to fill the gap in literature by examining the impact of microfinance loan on poverty reduction through the dimension of rural poor income. To achieve this objective, the study adopted multi-stage random sampling technique to collect primary data through the structured questionnaire. A total sample of 1,134 microfinance loan beneficiaries and non-beneficiaries were used as respondents from three states in SouthWest Nigeria. Descriptive Statis...
International Journal of Innovative Research and Development
Abstract: In view of the failure of economic growth that characterized most of the developing eco... more Abstract: In view of the failure of economic growth that characterized most of the developing economies to result in substantial reduction in their poverty incidences, several attempts have been advanced the missing link between these variables. This study, therefore, investigated the impact of patterns of growth and socioeconomic variables on poverty reduction in Nigeria from 1981-2018. To achieve this, the study applied Autoregressive Distributed Lag (ARDL) technique to analyse time-series data sourced from Central Bank of Nigeria (CBN), National Bureau of Statistics (NBS) and World Development Indicators (WDI). The findings revealed that for both the long-run and short-run, growth in RGDP per capital emanating from agriculture (PCA) and industry (PCI) as well as inequality (INQ), inflation (INF), human capital (HC) and unemployment (UMP) have significant long-run relationship with poverty reduction at various levels of significant. Further to this, the short-run estimated results reveal that the lagged values of poverty reduction, pattern of growth, inequality, inflation, unemployment and human capital development have significant impact on poverty reduction for the present period. The study, therefore, concluded that even though all the variables have long- run and short-run relationship with poverty reduction in Nigeria, only the results for the variables PCA, PCI, INQ, INF, HC and UMP are statistically significant. Of all these variables that are statistically significant, growth in PCA and/or reduction in INQ have the highest potentials of achieving poverty reduction in Nigeria. Therefore, any policy formulation that is aimed at reducing poverty incidence in Nigeria must provide support to the agriculture sector and address the issue of income distribution.
It is an established fact that if Development Finance Institutions like
Microfinance Institutions... more It is an established fact that if Development Finance Institutions like Microfinance Institutions are accessible to the poor, they would enhance their productivity and capability to procure assets and necessary facilities that can encourage productive investment. This will therefore reduce poverty as it is clear that the poor does not lack initiative but only constrained by finance. One of the economic measures embarked upon by the governments in most part of the world to combat poverty is the microcredit through microfinance banks. Microfinance has been used on several occasions to reduce poverty, in rural areas in particular which are believed to harbour the poorest people in the world. It is an important aid that can improve the economic performance of the poor. In Nigeria, government had made concerted efforts to alleviate poverty, but poverty still remains pervasive and widespread especially in the rural communities. This paper examines the policies and programmes of poverty alleviation in Nigeria with respect to the effect of microfinance. Exploratory method was used to review the relevant literature in order to discover the extent of the impact of these programmes on the targeted poor masses. The authors conclude that in order to make Microfinance achieve the poverty alleviation objective in Nigeria, the Government would have to provide basic infrastructural and social facilities that could encourage the Microfinance Institutions to establish branches in the rural areas and function effectively.
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Papers by Ghazal Taofeek
Microfinance Institutions are accessible to the poor, they would enhance
their productivity and capability to procure assets and necessary facilities
that can encourage productive investment. This will therefore reduce poverty
as it is clear that the poor does not lack initiative but only constrained by
finance. One of the economic measures embarked upon by the governments
in most part of the world to combat poverty is the microcredit through
microfinance banks. Microfinance has been used on several occasions to
reduce poverty, in rural areas in particular which are believed to harbour the
poorest people in the world. It is an important aid that can improve the
economic performance of the poor. In Nigeria, government had made
concerted efforts to alleviate poverty, but poverty still remains pervasive and
widespread especially in the rural communities. This paper examines the
policies and programmes of poverty alleviation in Nigeria with respect to the
effect of microfinance. Exploratory method was used to review the relevant
literature in order to discover the extent of the impact of these programmes
on the targeted poor masses. The authors conclude that in order to make
Microfinance achieve the poverty alleviation objective in Nigeria, the
Government would have to provide basic infrastructural and social facilities that could encourage the Microfinance Institutions to establish branches in
the rural areas and function effectively.
Microfinance Institutions are accessible to the poor, they would enhance
their productivity and capability to procure assets and necessary facilities
that can encourage productive investment. This will therefore reduce poverty
as it is clear that the poor does not lack initiative but only constrained by
finance. One of the economic measures embarked upon by the governments
in most part of the world to combat poverty is the microcredit through
microfinance banks. Microfinance has been used on several occasions to
reduce poverty, in rural areas in particular which are believed to harbour the
poorest people in the world. It is an important aid that can improve the
economic performance of the poor. In Nigeria, government had made
concerted efforts to alleviate poverty, but poverty still remains pervasive and
widespread especially in the rural communities. This paper examines the
policies and programmes of poverty alleviation in Nigeria with respect to the
effect of microfinance. Exploratory method was used to review the relevant
literature in order to discover the extent of the impact of these programmes
on the targeted poor masses. The authors conclude that in order to make
Microfinance achieve the poverty alleviation objective in Nigeria, the
Government would have to provide basic infrastructural and social facilities that could encourage the Microfinance Institutions to establish branches in
the rural areas and function effectively.