Impact of micro credit scheme on poverty alleviation policy in nigeria (a case study of small and medium scale enterpreneur in ifako ijaye local government area of lagos state)

Project Abstract

Microcredit schemes have been widely promoted as a tool for poverty alleviation in developing countries, including Nigeria. This research project aims to investigate the impact of microcredit schemes on poverty alleviation policies in Nigeria, focusing on small and medium-scale entrepreneurs in Ifako Ijaye Local Government Area of Lagos State. The study will utilize a case study approach to examine the effectiveness of microcredit schemes in addressing poverty among small and medium-scale entrepreneurs. Data will be collected through interviews, surveys, and analysis of existing literature on microcredit and poverty alleviation. The research will focus on assessing the socio-economic conditions of small and medium-scale entrepreneurs in Ifako Ijaye Local Government Area, as well as their access to and utilization of microcredit schemes. The study will also explore the challenges faced by entrepreneurs in accessing microcredit, and the effectiveness of these schemes in improving their living standards. Additionally, the research will investigate the role of government policies and regulatory frameworks in supporting and promoting microcredit schemes as a poverty alleviation strategy. It will also examine the impact of microcredit on entrepreneurship development, job creation, and overall economic growth in the study area. The findings of this study are expected to provide insights into the effectiveness of microcredit schemes in reducing poverty and promoting sustainable development among small and medium-scale entrepreneurs in Nigeria. The research will contribute to the existing literature on microfinance and poverty alleviation, and provide recommendations for policymakers, financial institutions, and other stakeholders involved in poverty alleviation efforts. Overall, this research project will contribute to a better understanding of the impact of microcredit schemes on poverty alleviation policies in Nigeria, and provide valuable insights for improving the design and implementation of such schemes to support the socio-economic development of small and medium-scale entrepreneurs in Ifako Ijaye Local Government Area of Lagos State.

Project Overview

<p> </p><div><p>The study which was conducted in lfako ljaye Local government area of Lagos state examined the influence of micro credit on poverty alleviation policy in Nigeria. The study among other things examined the importance Of small and medium enterprises in the development any given economy can not be over emphasized, hence, the need to undertake this study it was equally the focus of this study to examine the various ways that micro credit could affect the investment decision on poverty alleviation policy of SMEs in carry out this study and for the purpose of better understanding the historical development of micro credit usage financial institution and banking industry to eradication of poverty alleviation policy in particular was also given in depth consideration.</p><p>The researcher made of a Secondary data, although the use of micro credit on poverty alleviation policy in Nigeria economy is an objective this research work.</p><p>The SMEs were categorized into four namely: Bakery, Stationary Shop, Fashion Designer and petty trader, the data use in the research work was generated from the central bank of Nigeria bulletin and National Bureau statistic based on micro credit, poverty index and level of investment between the periods of 1995 – 2010.</p><p>The results obtained were analyzed through the use of a descriptive analysis and application software of (SPSS 17:00) which revealed micro credit is an effective tool that show a significant relationship between micro credit and poverty alleviations policy in Nigeria. In conclusion the regression run for the hypothesis stating that there is significant relationships between micro credit and investment in Nigeria.</p><p>The study recommends a greater coverage of the state by the scheme; Recipients should also be encouraged to reinvest their profit in other productive economic activities.</p><p></p></div><h3></h3><br> <br><p></p>