258 AJBMR • Doi Publications
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  • EMPOWERING WOMEN THROUGH MICRO-FINANCE: Evidence from Nigeria
    â–ºOladayo Nathaniel Awojobi

     10.52283/NSWRCA.AJBMR.20140401A03

    ABSTRACT
    There have been contentious academic debates on the validity of Micro-Finance Institutions (MFIs) impacting women’s empowerment positively. Some empirical findings have revealed that micro-finance services act as a panacea toward empowering women. However, there has been sharp criticism from some economic experts on the notion that micro-finance can aid women’s empowerment. This paper examines the impact of micro-credit on women’s empowerment in Lagos, Nigeria. Using the quantitative method from Lagos, the study shows  women who take part in MFIs projects have been empowered economically and socially. In all, a total of 40 women who are clients to micro-finance institutions participated in the survey. The data obtained were analysed and transcribed. The results show a significant improvement in the household well-being, income and employment, and women’s empowerment, as a result of participating in micro-finance programmes. However, all the respondents bemoaned the high interest rates being charged by the MFIs, as a result of this, the paper recommends that the regulatory authority should monitor the conduct of most of the MFIs vis a vis the high interest rate.
    Keywords: Empowerment, Income,  Micro-finance, Micro-credit, Well-being, Women

    Pages:17-26 :: Download-View
 
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