Browsing by Author "Sunday Ade BELLO"

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    Micro, Small and Medium Enterprises Financing and Poverty Level in North-Central Nigeria
    (Lead City University, 2023-12) Sunday Ade BELLO
    This study examined Micro, Small and Medium Enterprises Financing and Poverty Level in North-Central Nigeria. The focus of the study was on the six states of the North-Central Nigeria, one of the impoverished regions in the country. The effect of MSMEs access to credit services, turnover, profitability and employment creation on the poverty level in North-Central Nigeria was investigated in the course of the study. The study was anchored on the integrative theory. Convergent parallel design, a mixed-methods design was used. The population of the study included all the 5, 757,817 micro, small and medium enterprises in the North-Central Nigeria. The two-stage cluster sampling technique was adopted to obtain a total sample size of 384 respondents. Data for the study was collected through in-depth interviews, online surveys, and a well-structured questionnaire and analyzed using descriptive statistical methods and Ordinal Regression Method (ORM). The study revealed that MSMEs access to credit services has a negative impact on poverty level in North-central Nigeria as a unit change in MSMEs access to credit services will bring about 48.3% decreases in poverty level, also, MSMEs turnover has a negative and significant impact on the poverty level, a unit change or 1% change in MSMEs turnover will bring about a 23.6% decrease in poverty level. According to the study, since poverty is a mindset and a way of life, investing in training and character reform at the individual level is the only way to alleviate or eradicate poverty and any policy intended to combat poverty must be created in a way that ensures a successful, realistic, advantageous, and fruitful change in people's behaviour. The study concluded that formal and informal financing opportunities to help grow the MSMEs sector of the economy will significantly help to increase MSMEs operations and assist in alleviating the level of poverty in the North-central Nigeria. The study therefore recommended that Micro, Small and Medium Enterprises in the North-central, Nigeria should be empowered through different financing means such as low interest loan from Commercial banks, Microfinance banks, International development agencies, grant/support from the Central Bank of Nigeria and some of its agencies. Keywords: MSMEs, MSMEs Challenges, MSMEs Financing, North-Central Nigeria, Poverty. Word Count: >300