THE ROLE OF MICROFINANCE IN POVERTY ALLEVIATION IN NIGERIA (A CASE STUDY OF THE NIGERIAN AGRICULTURAL COOPERATIVE AND RURAL DEVELOPMENT BANK (NACRDB) LTD SOKOTO)

TABLE OF CONTENTS

Title Page

Table of Contents

CHAPTER ONE: INTRODUCTION

1.1       Introduction

1.2       Background to the study

1.3       Statement of the study

1.4       Objectives of the study

1.5       Significance of the study

1.6       Scope and limitations of the study

1.7       Scheme of chapters

CHAPTER TWO

LITERATURE REVIEW

2.1       Introduction

2.2       Review of some literature works

2.3       Meaning and concept of microfinance

2.4       Types of microfinance model

2.5       Microfinance and poverty eradication

2.6       Efforts at microfinance delivery to the poor

2.7       The effects of microfinance on poverty

CHAPTER THREE

HISTORICAL BACKGROUND OF THE CASE STUDY/RESEARCH METHODOLOGY

3.1       Introduction

3.2       Historical background of microfinance

3.3       Research design

3.4       Population of the study

3.5       Simplified and sampling technique

3.6       Methods of data collection

3.7       Methods of data analysis

CHAPTER FOUR

DATA PRSENTATION AND ANALYSIS

4.1       Introduction

4.2       Analysis of findings

CHAPTER FIVE

SUMMARY, CONCLUSIONS AND RECOMMENDATIONS

5.1       Introduction

5.2       Summary

5.3       Conclusions

5.4       Recommendations

            Bibliography

            Appendix

CHAPTER ONE

INTRODUCTION

1.1       INTRODUCTION

This chapter contains the background to the study followed by the statement of the problem, the objectives of the study, the significance of the study, the scope and limitations of the study and lastly, the scheme of chapters.

1.2       BACKGROUND TO THE STUDY

Microfinance which is also referred to as Microcredit is the extension of loans to entrepreneurs whom are too poor to be qualified for the traditional bank loan especially in developing countries. It enables very people to engage in self-employment project that generate income.

The concept of microfinance was developed by Muhammad Yunus, a U.S educated professor of Economics, who first got in the business of fighting poverty during the 1973 famine in his homeland of Bangladesh, one of the poorest countries in the world. Yunus discovered that small loans could make a significant difference in a poor person’s survival. His first loan consisted of 27 dollars from his own pocket, which he lent to a woman who made bamboo furniture, which she sold to support herself and her family. In 1976, Yunus founded the first microfinance bank called the Grameen Bank, which provides loan to the Bangladesh people. Since then it has issued more than a billion dollars in loan to some 2.4 million borrowers.

Today, microfinance has become afashionable word with the World Bank, and Non-Governmental Organisations(NGOs) and is the key word for getting funds from funding agencies. While some consider microfinance as a panacea for poverty and all the ills of the society, others consider it as the mobilisation of groups for organizing the unorganised for social change. In Nigeria, there are approximately 119 million people representing 70.2% of the current population of over 170 million who live below the poverty line and majority of these people are not having the basic amenities of life. The most affected are the women and children. (Google 2012)

Thus, with the alarming rate of poverty in the country, the need to address this scourge is an urgent one. The government has come out with a number of schemes and programmes in a bid to alleviate poverty, prominent among them are the Nigerian Cooperative Bank (NACB),National Directorate of Employment (NDE), Nigerian Agricultural Cooperative Rural and Development Bank (NACRDB), Peoples Bank of Nigeria (PBN), National Poverty Eradication Program (NAPEP), Poverty Alleviation Program (PAP) etc. There are also Organisations like United Nations Development Program (UNDP), United Nations Children Education Fund (UNICEF), International Food Agricultural Development (IFAD) etc. Despite these schemes, little empirical work has been done to examine the extent to which they have led to improvement in the income and the standard of living of the masses....

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