Microfinance Institutions in Nigeria
The advocation of micro – financing was triggered by the poor performance of the conventional finance sector. The essence was to reach the overwhelming population of the poor to assist in the drive to alleviate poverty. Barely a million had been provided with some credit in Nigeria while a yawning 40 million poor people are yet to be attended to. In terms of supply, commercial and development finance institutions are in the fore front of the outfits that provide credits to the microfinance institutions. Despite their efforts, rates of interest, inequitable distribution of wealth and income and outreaching the poor constitute challenges to the operations. The establishment of microfinance institutions in Nigeria was based on weak institutional capacity, weak capital base, existence of a huge unserved market, utilization of SMEEIS fund among other things
|Date of creation:||14 Aug 2008|
|Date of revision:|
|Contact details of provider:|| Postal: Ludwigstraße 33, D-80539 Munich, Germany|
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- Zeller, Manfred & Sharma, Manohar, 1998. "Rural finance and poverty alleviation," Food policy reports 8, International Food Policy Research Institute (IFPRI).
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