Micro-Finance as a Strategy for Poverty Reduction

Authors

O. O. Akanji, Central Bank of Nigeria

Publisher

Central Bank of Nigeria

Keywords

Microfinance, Poverty Reduction

Abstract

The paper established the facts that poverty is indeed increasing in Nigeria based on the poverty assessment study commissioned and sponsored by the World Bank in 1995. It further indicated in the introduction that the World Bank and the IMF group are focusing on poverty reduction as a prerequisite for debt relief The paper is structured into five sections with introduction being section one. Section two gives conceptual framework and reviews some country experiences of microcredit programs. Section three describes the efforts put in place in Nigeria-the World Bank group efforts and the IMF to alleviate poverty while section four offers ,the micro-finance model and principles, that could be adapted in Nigeria considering the Nigerian experience on financial intermediation. Section five concludes the paper. In the conclusion, the paper emphasized that indeed microfinance is a strategy of poverty reduction.

Author Bio

Mrs. O.O. Akanji is a Deputy Director of Research, Central Bank of Nigeria

Publication Title

CBN Economic and Financial Review

Issue

4

Volume

39

Recommended Citation

Akanji, O. O. (2001). Micro Finance as a Strategy for Poverty Reduction. CBN Economic and Financial Review. 39(4), 111-134.