TITLE:
Analysis of the Impact of Microfinancing on Poverty Alleviation in Nigeria
AUTHORS:
Ayodeji Michael Obadire
KEYWORDS:
Alleviation, Credit, Microfinance Bank, Poverty, Living Standard, Nigeria
JOURNAL NAME:
Journal of Financial Risk Management,
Vol.11 No.3,
September
21,
2022
ABSTRACT: A survey
was carried out in Ogbomoso Metropolis, Oyo-State of Nigeria to critically
evaluate the impact of microfinance banks as a strategy for poverty alleviation
in Nigeria. The Standard of living of the respondents was examined and the
extent to which microloans are available to develop small and medium
enterprises were also evaluated. Evaluation of the strategies was carried out
through direct administration of questionnaires on the microfinance banks’
customers. Primary data were analysed using Chi-square Test, Pearson
correlation and Analysis of Variance (ANOVA) test. The results revealed that
the relationship between the standard of living of the respondents and the
impact of microfinance banks on their household was positive and significant
with p