This study researches into the Assessment of the Impacts of Microfinance
Industry on the Development of the Rural Area in Nigeria, A Case Study of
Gaa-Akanbi Micro Finance bank Ilorin. It examines the significant of micro
finance bank in Nigeria.
It was concluded that knowing the population of rural area is very low, with
special reference to Gaa-Akanbi Micro Finance Bank.
Title page i
Table of content v
Statement of the problem
objectives of the study
Limitation and constraints to the study
2.1 Conceptual issue in micro finance
2.2 Rational for
the establishment of microfinance
2.3 Features of micro finance industry in Nigeria
2.4 Regulatory authority and audlines.
2.5 Meaning and feature
of rural area
2.6 Rate of poverty in rural area
2.7 Reason for
increasing rate of poverty in rural area
2.8 Impacts of micro finance bank towards eradicating poverty
in rural area.
2.9 Problems of union banks in eradicating poverty.
Data collection method/techniques
and analysis method
Definition of population
DATA PRESENTATION AND ANALYSIS, SUMMARY
CONCLUSION AND RECOMMENDATION,
history of case study
presentation and analysis
Summary of findings
TO THE STUDY
According to Banda M. (2002), micro
finance industry is about providing finance service to the poor who are
traditionally not serve by the conventional financial institution in Nigeria
the formal financial system provides services to about 35% of economically
active population which the remaining 65% are excluded from the access to
financial services. The small and medium scale enterprises falls among the 6%
who are not catered for financially. The financial need of most of these small
and medium scale enterprises are catered for by the informal financial sector
via non-government organization (NGO’s), friends, money under relatives as well
as credit unions.
In order to enhance financial flow to the
poor Nigerians who want to start up a small and medium scale business, the
government has in the past initiated a series of publicly financed micro-credit
programe and policies targeted at the poor. Some of such programe were
agricultural credit guarantee scheme (ACGS), people bank of Nigerians community
banks (CB), now micro finance bank etc. all these are aimed at empowering
Nigerians and local productions.
Microfinance industry the main source of
funding micro enterprises in Nigerian Africa and even other developing regions.
This study is aimed at undertaking a
primary survey of micro finance institution or industry has helped
inconditioning poverty in the rural area. It will also examine the framework of
microfinance institution and also observed how the operation of micro-finance.
To this research work will make a critical education of micro finance
institution and wide examination of rural area (concentration on the level of
poverty) and how the operations of the institution have helped in reading poverty.
1.2 THE FOLLOWING ARE THE PROBLEMS THAT NECESSITATED OUR
CHOICE OF THE TOPIC:
Conceptual framework of microfinance and
microfinance industry in Nigeria.
Reason for the establishment of
Regulation bodies and regulatory
guidelines the operation of micro-finance industry in Nigeria.
Rate of poverty in the rural area.
Reason for the increasing rate of
poverty in rural area.
Impact of microfinance banks in
eradication poverty in the rural area
Different and drawbacks encountered by
microfinance banks while performing their function of poverty eradication.
Solution to the problem of microfinance
AND OBJECTIVES OF THE STUDY
The main purpose of this research work
is to examine the assessment of the impacts of micro finance banks in
eradicating poverty in the rural area. The aims and objective of the study are
the conceptual framework of microfinance industry in Nigeria
the feature and the meaning of a rural setting
the rate of poverty in rural area
the reason for the increasing rate of poverty in rural area.
the role and impact of micro-finance banks in eradicating poverty in rural area
the problems encountered by microfinance industry and the likely solution.
OF THE STUDY
This research work is descriptive in
nature and to describe the impact or roles of microfinance bank/industry in
eradicating poverty in rural area. This research work is also beneficial to the
micro finance banks because it will examine the problems of micro finance banks
critically and potters a solution to the problems.
Thus, this research will therefore, help
in the overall economic development as it will encourage rural dwellers on the
effective utilization of the microfinance banks never to them because this
research work is describe and will educate the general public on the use of
micro finance efficiently and effectively.
Finally, at the completion of this work
the following group will benefit one way as listed below
A. Micro finance institutions:
research work will increase their scope of service and profitability
research work will also assist the micro finance banks in identifying their
problems and proper likely dwellers.
research work will educate the rural dweller on the impact of micro finance.
project will also educate the rural dweller on how to increase their saving and
research work will also eradicate poverty in rural area by educating the
dweller on the effective use of the bank.
authorities will as well benefit from this project because it will increase
their internal revenue generated as a result on increase in their level of
Finally, local and state government will
benefit from this research work through the overall increase in standard of
living in the rural area and the state at large.
OF THE STUDY
This research work focus on assessment
of the impact of microfinance banks in eradicating poverty in the rural area
but because of the existence of some limiting factors the research work
delaminate the study with special emphasis on Gaa-Akanbi community as the rural
area under study as our sample population.
As a result of this, the research work
is an historical case study and investigative based research. It emphasis on
Gaa-Akanbi micro finance banks as a case study of the project.
1.6 LIMITATIONS AND CONSTRAINTS TO THE STUDY
In carrying out this research work, some
of the limitation or problems encountered are:
Financial constraints, because the
research work is personally financed by the researcher.
Inadequate materials to guide in
carrying out the research work.
Unenthusiastic attitude of some the
respondent in divulging useful information about the research topic
Serious rubbing of minds and
brainstorming by the researcher, before unanimously putting down point on the
Problems of generalization of the final
finding of the research to all rural areas in Nigeria However, despite all the
limitation encountered during the research effort were made to ensure that the
limitation did not serve as an obstacle or hindrance toward the successful
competition of this research.
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