Effect of Microfinance Policy on Poverty Alleviation in Selected Southwest States in Nigeria

Muslim Akinbola Akintola

Abstract


The economic state of Nigeria has brought about increase in the poverty level of citizens. This predicament led to a provision of microfinance policy to be a panacea to the down trodden and struggling economy of the country. This paper examined the effect of the policy on poverty alleviation in southwest, Nigeria. It made use of both primary and secondary data. The study population is 2,145 and sample size of 215 respondents, representing 10% of the loan beneficiaries and managers interviewed from the selected institutions adopted in this study. The findings show that microfinance policy improved the living condition of beneficiaries and increased their incomes. The study therefore concluded that the microfinance policy had a positive effect on poverty alleviation in selected southwest States in Nigeria.

Keywords


Microfinance; Microfinance bank; Policy; Microfinance policy

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DOI: http://dx.doi.org/10.3968/13102

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