Accessibility to microfinance and its impacts on poverty alleviation in South-West Nigeria

Poverty is a world phenomenon. Its consequences are traumatic and dehumanizing. Several measures and strategies have been used to alleviate poverty and enhance economic empowerment. One of the economic measures is the Microfinance programme. In Nigeria, government had made efforts to alleviate pover...

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Main Author:	Aremu, Kasali Taofeek
Format:	Thesis
Language:	eng eng
Published:	2016
Subjects:	HC Economic History and Conditions HG Finance
Online Access:	https://etd.uum.edu.my/6079/1/s94570_01.pdf https://etd.uum.edu.my/6079/2/s94570_02.pdf
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id	my-uum-etd.6079
record_format	uketd_dc
institution	Universiti Utara Malaysia
collection	UUM ETD
language	eng eng
topic	HC Economic History and Conditions HG Finance
spellingShingle	HC Economic History and Conditions HG Finance Aremu, Kasali Taofeek Accessibility to microfinance and its impacts on poverty alleviation in South-West Nigeria
description	Poverty is a world phenomenon. Its consequences are traumatic and dehumanizing. Several measures and strategies have been used to alleviate poverty and enhance economic empowerment. One of the economic measures is the Microfinance programme. In Nigeria, government had made efforts to alleviate poverty by creating economic opportunities in various forms and empowering the poor through education and financial resources. But the efforts proved elusive and poverty still remains pervasive and widespread especially in the rural communities in Nigeria. The objective of this study is to estimate the determinants of the accessibility to microfinance and its impacts on poverty alleviation in Nigeria particularly in the South-West Zone of the country. A total sum of 1,134 microfinance loan beneficiaries and non-beneficiaries were sampled from three out of the six states in the zone. Applied econometric techniques for development economics like logit and ordered logit regression models; with difference-in differences estimation approach were employed to analyse the data; and the Propensity Score Matching estimators were used to evaluate the potential selection bias. The results identified factors like age, business worth, health status and living standard as germane to microfinance accessibility by the rural poor. The impacts of microfinance loan are positive on poverty alleviation and income, but there is need for improvement; while the programme did not have substantial improvement on the living standard, consumption and health status of the poor in the study area. Government is implored to provide enabling environment for the MFIs and monitor the activities of the latter for better service delivery. MFIs are also advised to create more awareness on their operations and make less stringent conditions for the loan accessibility. The study is significant for academic research, policy formulation and economic planning.
format	Thesis
qualification_name	Ph.D.
qualification_level	Doctorate
author	Aremu, Kasali Taofeek
author_facet	Aremu, Kasali Taofeek
author_sort	Aremu, Kasali Taofeek
title	Accessibility to microfinance and its impacts on poverty alleviation in South-West Nigeria
title_short	Accessibility to microfinance and its impacts on poverty alleviation in South-West Nigeria
title_full	Accessibility to microfinance and its impacts on poverty alleviation in South-West Nigeria
title_fullStr	Accessibility to microfinance and its impacts on poverty alleviation in South-West Nigeria
title_full_unstemmed	Accessibility to microfinance and its impacts on poverty alleviation in South-West Nigeria
title_sort	accessibility to microfinance and its impacts on poverty alleviation in south-west nigeria
granting_institution	Universiti Utara Malaysia
granting_department	School of Economics, Finance & Banking
publishDate	2016
url	https://etd.uum.edu.my/6079/1/s94570_01.pdf https://etd.uum.edu.my/6079/2/s94570_02.pdf
_version_	1747828017907892224
spelling	my-uum-etd.60792021-04-05T01:57:59Z Accessibility to microfinance and its impacts on poverty alleviation in South-West Nigeria 2016 Aremu, Kasali Taofeek School of Economics, Finance & Banking School of Economics, Finance and Banking HC Economic History and Conditions HG Finance Poverty is a world phenomenon. Its consequences are traumatic and dehumanizing. Several measures and strategies have been used to alleviate poverty and enhance economic empowerment. One of the economic measures is the Microfinance programme. In Nigeria, government had made efforts to alleviate poverty by creating economic opportunities in various forms and empowering the poor through education and financial resources. But the efforts proved elusive and poverty still remains pervasive and widespread especially in the rural communities in Nigeria. The objective of this study is to estimate the determinants of the accessibility to microfinance and its impacts on poverty alleviation in Nigeria particularly in the South-West Zone of the country. A total sum of 1,134 microfinance loan beneficiaries and non-beneficiaries were sampled from three out of the six states in the zone. Applied econometric techniques for development economics like logit and ordered logit regression models; with difference-in differences estimation approach were employed to analyse the data; and the Propensity Score Matching estimators were used to evaluate the potential selection bias. The results identified factors like age, business worth, health status and living standard as germane to microfinance accessibility by the rural poor. The impacts of microfinance loan are positive on poverty alleviation and income, but there is need for improvement; while the programme did not have substantial improvement on the living standard, consumption and health status of the poor in the study area. Government is implored to provide enabling environment for the MFIs and monitor the activities of the latter for better service delivery. MFIs are also advised to create more awareness on their operations and make less stringent conditions for the loan accessibility. The study is significant for academic research, policy formulation and economic planning. 2016 Thesis https://etd.uum.edu.my/6079/ https://etd.uum.edu.my/6079/1/s94570_01.pdf text eng public https://etd.uum.edu.my/6079/2/s94570_02.pdf text eng public Ph.D. doctoral Universiti Utara Malaysia Abadie, A. (2005). Semiparametric Difference- in-Difference Estimators. Review of Economic Studies Limited 72, 1–19. Abdel-Baki, M. (2012). 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Accessibility to microfinance and its impacts on poverty alleviation in South-West Nigeria

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