Microfinance Institutions, Environmental Factors, and Poverty Alleviation in Oyo State, Nigeria
| dc.contributor.author | Ibukun Adetoun ABULUDE | |
| dc.date.accessioned | 2025-09-19T14:26:59Z | |
| dc.date.available | 2025-09-19T14:26:59Z | |
| dc.date.issued | 2024-12 | |
| dc.description.abstract | Poverty is a big concern in Nigeria, potentially affecting more than 60% of the population, despite efforts indicated in the MDGs. Microfinance banking holds promise for poverty alleviation, but it has had limited impact in Nigeria. This study attempts to fill knowledge gaps in the impact of regulatory environments, socioeconomic factors, and technology on poverty dynamics in Nigeria. Concentrating on Oyo State, Nigeria. This study used a descriptive survey research design, with a population of 53 microfinance institutions spread across Oyo State's three senatorial zones, and a sample size of 240 clients drawn at random from these institutions. The study used a stratified random sampling technique. Data were collected using a validated questionnaire. Data were analyzed using descriptive and inferential statistics. Findings revealed that microfinance institutions significantly affect poverty alleviation within the context of the Nigerian economic landscape (R 2=0.061, F(1,238)=23.158, t= 24.176 p= 0.000). Regulatory environment has positive and significant influences on poverty alleviation (R2=0.111, F(1,238)=29.632, t= 5.443 p= 0.000). Socioeconomic factors has positive and significant impact on poverty alleviation (R2=0.979, F(1,238)=519.861, p= 0.000). Technology & Innovation has a positive and significant effect on poverty mitigation (r = 0.817, p = 0.000). The study also identifies socioeconomic factors such as access to education, income inequality, healthcare, and social welfare programs as critical determinants of poverty reduction. Additionally, it highlights the transformative potential of technology adoption, particularly in digital financial services, to enhance financial inclusion and poverty alleviation efforts. Recommendations include prioritizing regulatory reforms, investing in capacity building for MFIs, intensifying efforts to promote financial inclusion, diversifying product offerings, embracing technological innovations, and establishing robust monitoring and evaluation mechanisms. These findings contribute empirically to the discourse on poverty alleviation and the role of MFIs in Nigeria, offering valuable insights for policymakers, practitioners, researchers, and scholars alike. Keywords: Poverty Mitigation, Microfinance Institutions, Banks, Regulatory Environment, Socioeconomic Factors, Technological Innovation Word Count: 295 | |
| dc.identifier.citation | Kate Turabia | |
| dc.identifier.other | M.Sc | |
| dc.identifier.uri | https://repository.lcu.edu.ng/handle/123456789/1065 | |
| dc.language.iso | en | |
| dc.relation.ispartofseries | M.Sc | |
| dc.subject | Poverty Mitigation | |
| dc.subject | Microfinance Institutions | |
| dc.subject | Banks | |
| dc.subject | Regulatory Environment | |
| dc.subject | Socioeconomic Factors | |
| dc.subject | Technological Innovation | |
| dc.title | Microfinance Institutions, Environmental Factors, and Poverty Alleviation in Oyo State, Nigeria | |
| dc.type | Thesis |