This
section of the Gofta news magazine is to reveal the effort made so far to
investigate the ways in which micro-finance programs, both governmental and
non-governmental, have driven financial sustainability and included women in
community development in Nigeria.
In this development, the study examined the extent to which these programs have
affected women in the area of economic self reliance, social and political
empowerment. Women are generally considered to be at the lowest tread of the
poverty ladder in Nigeria,
the study extrapolated the effects of micro-finance on the lessening of poverty
for the women.
Furthermore,
the study examined the policy implications of micro credit financing of women
economic activities within the broad framework of gender formulaic background
of these enterprises. In order to accomplish these goals, we decide to explored
the theoretical bases of micro-finance breakdown with the overarching context
of gender/feminist literature. This approach is important because of the low
economic status of women in Nigerian society. As we proceed to argue here that
there is a general likelihood that the microfinance approach is targeted at
women, we also explained the underlying rationale for this approach from the
Nigerian perspective.
To
realize this and test our propositions, we found out that, issues in our
locality if used will be appropriate. Hence, we have selected three
micro-finance institutions, one non-governmental organization and two
government assisted microfinance organizations: Country Women Association of
Nigeria (COWAN), the Peoples Bank of Nigeria, and Family Economic
Assistance Program. The latter two are both federally operated institutions of
the government of Nigeria
aimed at providing credit to those who ordinarily would not get them. By so
doing, raise their economic status and help them to eliminate their poverty.
The suggestions that are made in this study are:
1.
That there should be a direct relationship
between micro credit availability and economic development.
2.
They should create a direct affiliation
between micro credit and women empowerment.
3.
That they should support the availability of
micro credit facilitates income generating
activities among people and contributes to their increased standard of
living.
4.
That they should
create a link between the association and the micro finance institutions to
enhance the development of financial sustainability among women.
5.
That micro
financial institutions are directly associated with women without hindrance of
any sort.
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