The Impact of Microfinance
Poverty Reduction and Economic Development in Nigeria
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The study presented empirical findings on the impact of Microfinance on poverty reduction and Economic development in Nigeria. It also examined Microfinance as key to poverty alleviation and economic development. It assessed the extent to which Microfinance Institutions had successfully helped the poor to improve their standard of living and social status. The study employed multiple regression analysis of the Ordinary Least Square (OLS) technique of estimation in order to make tentative predictions concerning outcome variable. The Linear Probability Model was also adopted in the study. This s...
The study presented empirical findings on the impact of Microfinance on poverty reduction and Economic development in Nigeria. It also examined Microfinance as key to poverty alleviation and economic development. It assessed the extent to which Microfinance Institutions had successfully helped the poor to improve their standard of living and social status. The study employed multiple regression analysis of the Ordinary Least Square (OLS) technique of estimation in order to make tentative predictions concerning outcome variable. The Linear Probability Model was also adopted in the study. This study establishes that Microfinance Programme have impacted the businesses and lives of the beneficiaries (Microfinance Clients) in several positive ways particularly in their economic circumstances. It also gave them access to essential life-enhancing facilities and services. It suggested that Microfinance Institutions in Nigeria should seek long- term capital from the Pensions and Insurancecompanies so that they can grant larger volumes of loans to greater number of their clients.
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