Uzochukwu Nnenyelike recently presented his Thesis which was graded with an A for his Doctorate program in Business Administration. The Thesis was titled “(Micro-Financing as a Tool for Poverty Eradication and Economic Growth in Nigeria.)”
Abstract:
The study examined micro-financing as a tool for poverty eradication in the Nigerian economy. The study seeks to explore the most beneficial services of microfinance to the low-income group in Nigeria. Also- the study investigates the contribution of microfinance institutions to business start ups among the low-income group and examines the impact of microfinance institutions on poverty reduction and economic growth. Mixed design techniques were employed. Secondary data were collected from the Central Bank of Nigeria Bulletin 2019 where primary data were derived from the administration of questionnaires to seventy-seven low-income groups in Lagos. Nigeria. IBM-SPSS version 22.0 and E-VIEW 9.0 were used in data analysis. Findings revealed that most of the participants expressed that microfinance provides loans to the low-income group to support existing business operations as well as household support in terms of payment of school fees and other household chores. Also- Findings from the secondary data analysis show that microfinance bank credit- microfinance bank deposit- and microfinance investment contribute positively and significantly to the gross domestic product during the period under investigation. In addition- microfinance credit- deposit- and investment contribute significantly to poverty reduction during the period under investigation. Regrettably- many of the participants expressed that microfinance institutions do not help in start-up capital as capital is mostly sourced through personal savings and family and friends. The study recommended that is need microfinance banks operators design products to support these groups especially the low-income group among them in starting up a business.
Uzochukwu Nnenyelike completed a Doctorate Program in Business Administration at the Atlantic International University. We are very proud of you and wish you further success in all your professional pursuits.
