Project Topic:

Micro finance bank and economic growth in Nigeria

Project Information:

 Format: MS WORD ::   Chapters: 1 - 5 ::   Pages: 52 ::   Attributes: Questionnaire, Data Analysis, Abstract  ::   1,532 people found this useful

Project Department:

BANKING FINANCE UNDERGRADUATE PROJECT TOPICS, RESEARCH WORKS AND MATERIALS

Project Body:

 CHAPTER ONE

1.0                                           INTRODUCTION
1.1     OVERVIEW OF THE STUDY
It would be observed that, despite the presumed developments in the Nigerian economy, the country is still largely being regarded as a developing country (Onyema, 2006). More so, its industrial growth is not quite impressive.
Before the emergence of formal microfinance institutions, informal microfinance activities flourished all over the country. Traditionally, microfinance in Nigeria entails traditional informal practices such as local money lending, rotating credit and savings practices, credit from friends and relatives, government owned institutional arrangements, poverty reduction programmes etc (Lemo, 2006). The Central Bank of Nigeria Survey in 2001 indicated that the operations of former microfinance institutions in Nigeria are relatively new, as most of them never registered after 1981.
Before now, commercial banks traditionally lend to medium and large enterprises which are judged to be credit-worthy. They avoided doing business with the poor and their micro enterprises because the associated cost and risks are considered to be relatively high (Anyanwu, 2004).
The Federal and State governments have recognized that for sustainable growth and development, the financial empowerment of the rural areas is vital, being the repository of the predominantly poor in society and in particular the SMEs. If this growth strategy is adopted and the latent entrepreneurial capabilities of this large segment of the people is sufficiently stimulated and sustained, then positive multipliers will be felt throughout the economy. To give effect to these aspirations various policies have been instituted over time by the Federal Government to improve rural enterprise production capabilities. (Olaitan 2006)

In view of this, the impact of micro finance bank in economic growth and development of Nigeria started showcasing itself. With the initiative of microfinance, rural areas are opportune to grow and develop as loan and fund are easily given to rural farmers and entrepreneur. Jobs opportunities were created since there is avenue for lending and investing.
1.2     STATEMENT OF PROBLEM
There are so many problems and challenges that hinder the functionality of the microfinance bank in carrying out their major role of improving economic growth in Nigeria.
These problems include

  • poor attitude of Nigerians towards MFBs
  • insufficient support from the regulators and government
  • There are communication gaps and inadequate awareness among the masses.
  • Undue competition rather than cooperation from the mega banks, and undue malpractice/Sharp practices by microfinance bank operation.

The researcher will in the research find possible ways of solving or making better the conditions for the operation of MFBs.
1.3     OBJECIVE OF THE STUDY
The set objective of this research work are to:

  • Investigate the impact of micro finance bank and economic growth in Nigeria.
  • It will explicate in detail ways in which micro finance banks can contribute in developing rural areas and improving the life of the poor people.
  • It will investigate the ways microfinance bank can contribute in building entrepreneurship within the country.

1.4    RESEARCH QUESTIONS

  • To what extent will the poor attitude of  Nigerians towards Micro finance banks affects the economic growth in Nigeria
  • To what level will insufficient support from the regulators and government affects the smooth operations of Micro finance banks

1.5    TEST OF HYPOTHESIS
It is quite evidential that the major ways in which microfinance bank can help in economic development is through the encouragement of entrepreneurial development.
The essence of microfinance bank is to enable the poor individual to be able to obtain loan and be able to manage their enterprise.
To this effect, the following hypothesis will be tested, thus.
Hypothesis I
H0:     Micro finance bank is irrelevant to the economic growth and development in Nigeria since the number of entrepreneurs that uses their services is low
Hi:     Micro finance bank is relevant to the economic growth  and development in Nigeria since the number of entrepreneurs that uses their services is low
Hypothesis II
H0:     Microfinance institution do not contribute to entrepreneurial productivity
H1:     Micro finance institutions do contribute to entrepreneurial productivity.

1.6     SCOPE OF THE STUDY
The scope of the study is subjected around the frame work of microfinance bank in Nigeria vis-à-vis its contribution to the economic growth and development.

1.7  SIGNIFICANCE OF THE STUDY
This study is essentially significant in that it is directed towards evaluating the impact and role that micro finance banks have on the economic growth and development in Nigeria, especially the rural areas which is a criteria aimed at measuring economic standard.
Owing to the fact that researcher has aimed at pinpointing the ways in which micro finance bank can help in the revamping of the nation’s economy, the findings of this research work will be of great help to most developing countries who may wish to toe the part of Nigeria in MFB development.

It will also serve as a reference point for future researchers who in one way or the other will try to unveil the role and impact of micro finance bank to economic growth and development.

 

Get the complete project »


Instant Share On Social Media:


Can't find what you are looking for?
Call (+234) 07030248044.

OTHER SIMILAR BANKING FINANCE PROJECTS AND MATERIALS

A CRITICAL ANALYSIS ON THE USE OF FINANCIAL STATEMENTS IN ASSESSING THE PERFORMANCE OF AN ORGANIZATION (A CASE STUDY OF FIRST BANK NIGERIA)

 Format: MS WORD ::   Chapters: 1-5 ::   Pages: 72 ::   Attributes: Questionnaire, Data Analysis  ::   17248 engagements

ABSTRACT This project work is carried out to examine the contribution of micro finance banks to the development of Small and medium scale enterprises in Nigeria. The Brass micro finance bank is used a...Continue reading »

A STUDY ON THE ACCEPTANCE AND ADOPTION OF THE CBN CASHLES POLICY IN PORT HARCOURT, NIGERIA

 Format: MS WORD ::   Chapters: 1-5 ::   Pages: 76 ::   Attributes: Questionnaire, Data Analysis,Abstract  ::   8842 engagements

CHAPTER ONE INTRODUCTION 1.1. BACKGROUND TO THE STUDY One of the prerequisites for the development of national economy according to Ajayi et al, 2006 is by encouraging a payment system that is secu...Continue reading »

A STUDY ON THE IMPACT OF BUDGETARY CONTROLS ON THE PERFORMANCE OF AN ORGANIZATION (A CASE STUDY OF FIDELITY BANK PLC)

 Format: MS WORD ::   Chapters: 1-5 ::   Pages: 80 ::   Attributes: Questionnaire, Data Analysis,Abstract  ::   26369 engagements

CHAPTER ONE INTRODUCTION 1.1. BACKGROUND OF THE STUDY AND PROFILE OF THE ORGANIZATION Following the uncertainties prevailing in the Nigerian business environment today, managers and stakeholders mu...Continue reading »

ANALYZING PERFORMANCE APPRAISAL TECHNIQUES IN UNION BANK NIG PLC

 Format: MS WORD ::   Chapters: 1-5 ::   Pages: 67 ::   Attributes: Questionnaire, Data Analysis,Abstract  ::   22925 engagements

CHAPTER ONE INTRODUCTION 1.1. BACKGROUND OF THE STUDY In any evaluation of the condition necessary for the growth and survival of an organization, the role of performance appraisal is a strategic f...Continue reading »

AUDIT INDEPENDENCE: ENHANCING ACCOUNTABILITY AND TRANSPARENCY IN CORPORATE ORGANIZATIONS

 Format: MS WORD ::   Chapters: 1-5 ::   Pages: 71 ::   Attributes: Questionnaire, Data Analysis,Abstract  ::   13462 engagements

CHAPTER ONE INTRODUCTION 1.1. Background of the study The subject of transparency and accountability in modern day corporate organizations has continued to receive attention as never before. It has b...Continue reading »

CREDIT MANAGEMENT AND ISSUES OF BAD DEBTS IN COMMERCIAL BANKS IN NIGERIA

 Format: MS WORD ::   Chapters: 1-5 ::   Pages: 68 ::   Attributes: Questionnaire, Data Analysis,Abstract

The article on this topic (credit management and issues of bad debts in commercial banks in Nigeria) is an extract from literature review of the project material. The complete project work would be ma...Continue reading »

What are looking for today?

WHAT OUR CUSTOMERS ARE SAYING:
  • 1. Kater from FPN said "I love this website ".
    Rating: Good
  • 2. Victor from Unilorin said "Tested and trusted ".
    Rating: Very Good
  • 3. Haruna Usman Lame from Abubakar Tafawa Balewa University Bauchi said "I really enjoyed using this website am so grateful ".
    Rating: Excellent
  • 4. Bagu Manjing Dakan from polytecnic barkin ladi said "the use of information and communication technology in teaching of vocational subjects in plateau state polytecnic ".
    Rating: Excellent
  • 5. Ekeh Miracle from kaduna state University said "Toopnotch delivery from this crew I highly recommend everyyone to patronise them".
    Rating: Very Good
  • 6. Joseph from feck said "Bravo".
    Rating: Excellent