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The role of microfinance in poverty alleviation: empirical evidence from South-West Nigeria

Kasali, Taofeek Aremu and Ahmad, Siti Aznor and Lim, Hock Eam (2015) The role of microfinance in poverty alleviation: empirical evidence from South-West Nigeria. Asian Social Science, 11 (21). pp. 183-192. ISSN 1911-2017

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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 South- West 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.

Item Type: Article
Uncontrolled Keywords: economic development, poverty, microfinance, survey, Nigeria
Subjects: H Social Sciences > HC Economic History and Conditions
Divisions: School of Economics, Finance & Banking
Depositing User: Dr. Siti Aznor Hj. Ahmad
Date Deposited: 29 Dec 2015 10:55
Last Modified: 14 Apr 2016 04:58
URI: http://repo.uum.edu.my/id/eprint/16684

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