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Microfinance Institutions in Nigeria

Author

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  • Mejeha, Remy O.
  • Nwachukwu, Ifeanyi N.

Abstract

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

Suggested Citation

  • Mejeha, Remy O. & Nwachukwu, Ifeanyi N., 2008. "Microfinance Institutions in Nigeria," MPRA Paper 13711, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:13711
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    References listed on IDEAS

    as
    1. Zeller, Manfred & Sharma, Manohar, 1998. "Rural finance and poverty alleviation," Food policy reports 8, International Food Policy Research Institute (IFPRI).
    2. Hulme, David, 2000. "Impact Assessment Methodologies for Microfinance: Theory, Experience and Better Practice," World Development, Elsevier, vol. 28(1), pages 79-98, January.
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    Cited by:

    1. Ehiabhi Andrew Tafamel, 2019. "Analysis of the Effect of Microfinance Institutions on Poverty Reduction in Nigeria," Academic Journal of Economic Studies, Faculty of Finance, Banking and Accountancy Bucharest,"Dimitrie Cantemir" Christian University Bucharest, vol. 5(2), pages 114-119, June.

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    More about this item

    Keywords

    microfinance; financial institutions; agricultural credit and finance;
    All these keywords.

    JEL classification:

    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General

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