Microfinance and Poverty Reduction in Nigeria

Microfinance and Poverty Reduction in Nigeria

Author: Uyi Benjamin Edegbe

Publisher: GRIN Verlag

Published: 2013-06-07

Total Pages: 90

ISBN-13: 3656444242

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Master's Thesis from the year 2013 in the subject Sociology - Miscellaneous, University of Freiburg (Global Studies Program, Institute fur Soziologie.), language: English, abstract: [...] The poverty question is a global phenomenon. It is perhaps one of the greatest challenges facing Mankind today, especially in most parts of the developing world. This Perhaps explains why the eradication of poverty was listed as the first of the eight issues of the millennium development goals. The problem of poverty is more disturbing giving the fact that there is abundant and enormous wealth in the world to adequately meet the needs of every one. Poverty may be defined as a condition of lack and inability to meet adequately the basic needs of life such as Shelter, food, education and health care. Similarly, according to a United Nations statement: Poverty is a denial of choices and opportunities, a violation of human dignity. It means lack of basic capacity to participate effectively in society. It means not having enough to feed and clothe a family, not having a school or clinic to go to; not having the land on which to grow one’s food or a job to earn one’s living, not having access to credit. It means insecurity, powerlessness and exclusion of individuals, households and communities. It means susceptibility to violence, and it often implies living on marginal or fragile environments, without access to clean water or sanitation.(UN,2008 quoted in Ucha,2010). 2 In other words, the problems of poverty is more worrisome in Sub-Saharan Africa with 47.5% of the people living on less than $1.25 and 70% living on less than $2 per day in Sub-Sahara Africa (World Bank, 2008).The figure may have become worse considering the drought that hit parts of horn of (East) Africa in 2011 and the problem of maladministration or poor governance bedeviling the region. In Nigeria the high level of corruption, poor leadership has contributed to exacerbate the problem of poverty. Ucha, 2010 puts it thus: “Unemployment, corruption, non diversification of the economy, income inequality, laziness and a poor educational system can be considered to be some of the key factors contributing to poverty in Nigeria”(p.46). Given the fact that Nigeria is a country with rich human and natural resources, it is disturbing that majority of her citizens are still very poor. The government has over the years formulated a lot of programs and policies geared towards poverty reduction; however it remains a controversy whether those programs and policies have actually achieved their desired objectives.[...]


Microfinance and Poverty Reduction: An Empirical Evidence from Benin Metropolis South-South of Nigeria

Microfinance and Poverty Reduction: An Empirical Evidence from Benin Metropolis South-South of Nigeria

Author: Uyi Benjamin Edegbe

Publisher: Anchor Academic Publishing (aap_verlag)

Published: 2014-02-01

Total Pages: 84

ISBN-13: 3954896737

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This book is an empirical study of how microfinance impacts on poverty reduction in Nigeria. The book examined conceptual issues in poverty and microfinance with focus on the nature and incidences of the poverty phenomenon, justification for the establishment and growth of microfinance in Nigeria. This book with theoretical and empirical findings investigates the previous attempts by the governments in alleviating poverty and specifically how microfinance have helped in reducing the poverty menace especially since the promulgation of the microfinance banking act in 2005 by the Central bank of Nigeria.


Microfinance and Poverty Reduction in Nigeria

Microfinance and Poverty Reduction in Nigeria

Author: Cecilia Nwigwe

Publisher: LAP Lambert Academic Publishing

Published: 2013

Total Pages: 116

ISBN-13: 9783659334627

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The book attempts to provide a critical assessment of microfinance as a strategy for poverty reduction in Nigeria. It argues that while microfinance has developed some innovative management and business strategies, its impact on poverty reduction remains in doubt. Microfinance, however, certainly plays an important role in providing safety-net and consumption smoothening. However, for any significant dent on poverty the focus of public policy should be on growth-oriented and equity-enhancing programs, such as broad-based productive employment creation. There is also need to design financial sustainable models that increases outreach and scale up operations for the poor. More so, financial inclusion agenda should be considered and adopted in a concerted manner.


Microfinance and Sustainable Development in Africa

Microfinance and Sustainable Development in Africa

Author: Alhassan, Yahaya

Publisher: IGI Global

Published: 2021-12-10

Total Pages: 368

ISBN-13: 1799875016

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The use of microfinance for poverty reduction and economic development in the developing world is growing. However, this concept needs to be expanded to ensure its successful application for achieving longer-term economic growth and sustainability in developing countries, particularly in parts of the world such as Africa. As such, further research into the relationship between microfinance and sustainable development in developing regions is required to fully understand the opportunities for effective use of microfinance for poverty reduction and economic development. Microfinance and Sustainable Development in Africa examines the complex relationship between receipt of microfinance, poverty reduction, economic growth, and microbusiness development, focusing on the provision of small credit facilities as a driver of sustainable development in Africa. Its coverage of topics such as microbusiness, social finance, and sustainable development make this book an ideal reference source for academicians, researchers, government officials, policymakers, organizations, managers, instructors, and students.


Microfinance and Poverty Alleviation in Southwest Nigeria

Microfinance and Poverty Alleviation in Southwest Nigeria

Author: J. N. Taiwo

Publisher:

Published: 2018

Total Pages: 11

ISBN-13:

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In order to alleviate poverty and improve the living standard of the people of South-West Nigeria, it is imperative that micro/small financial services such as credit, insurance, money transfer, etc. are provided in order to engage them actively in productive activities. Globally, there are several failed policies by governments, particularly in Nigeria over the years aimed at poverty alleviation. This study examines microfinance scheme towards the dispersion of credit amongst the working poor; draws from the data collected from field survey and these were reported using tables, frequency counts and cross-tabulations to draw inferences and a loan demand model was specified and estimated using the Ordinary Least Squares (OLS) econometric technique.The study used cross-sectional data collected from selected respondents in selected areas of both the Lagos and Ogun States of Nigeria respectively. The study found that majority of the Microfinance banks in Nigeria are model after the Grameen Bank which is aimed at the poor and people with basic, little or no education and that loan demand is interest rate insensitive. Therefore, MFIs should design appropriate products that are flexible enough to meet the different needs of the poor for both production and consumption purposes. Besides, governments (local, state and Federal) should urgently tackle the infrastructural gaps such as electricity, water and efficient transportation system which impact greatly on the standard of living of the people.


Microfinance and Poverty Reduction

Microfinance and Poverty Reduction

Author: Susan Johnson

Publisher: Oxfam

Published: 1997

Total Pages: 148

ISBN-13: 9780855983697

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The book emphasizes the importance of studying the local context, and then considering the macroeconomic factors which may be operating upon the economy of a particular country. Five extended case studies, in the Gambia, Ecuador, Mexico, Pakistan, and the UK are examined with reference to further aspects of sustainability and impact assessment.


Social Capital and Institutions of Poverty Reduction in Africa

Social Capital and Institutions of Poverty Reduction in Africa

Author: Osaore A Aideyan

Publisher:

Published: 2014-06-26

Total Pages: 179

ISBN-13: 9780773417847

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There have been many books written about the issue of poverty in Africa. Most of them look at failed policies and criticize what does not work. This text looks at what does work, and outlines how to implement these effective policies. The question of credibility and strategic behaviors in institutions of poverty reduction is an area that needs to be addressed adequately and the author attempts to deal with it in a pragmatic way.In the academic literature on designating effective institutions of poverty alleviation programs and policies in sub-Saharan Africa, it is rare to find direct assessments of the success of particular social policies and programs. In country after country, one is much more likely to see research on the failure of poverty reduction programs. Very often, contributors to the literature gravitate towards the presentation of raw numbers and figurers indicating that these policies and programs have failed and thus call for the discontinuation of such policies. Curiously, the most straightforward questions that many people outside of the development circle seem to want answered OCo such as, on what criteria are these conclusions reached, or what particular policies and programs have made a dent in poverty, are less popular in the discipline. This study focuses on the preconditions for success in poverty reduction programs. It proposes a framework which incorporates a mixture of social and political, as well as economic relationships, which these programs embody. Using evidence from original surveys of two micro-finance programs in Southern Nigeria, this policy evaluation study attempts from the standpoint of institutional and social capital theories to accomplish two goals: first, to fill the gaps in the literature by developing an evaluation framework emphasizing institutional design features and a strong network of relationships which lower costs for beneficiaries and providers; and second, to provide critical input for the policy task of designing effective institutions of poverty reduction programs."