Determining the Role of Microcredit in Women Empowerment and Poverty Alleviation in Edo State, Nigeria

 In Edo State, Nigeria, the study focused on the impact of microcredit in women’s empowerment and poverty alleviation. Women account for the bulk of poverty in society; they have endured misfortune as a result of socioeconomic inequity and gender discrepancy. Women’s access to economic and income-generating assets such as land and finances is limited. Microcredit is often considered as a potent tool for women’s empowerment and poverty alleviation. The study focuses on microcredit’s significance in empowering women and reducing poverty. The goal of this research is to see how microcredit affects women’s empowerment in the study area. It identifies the sources of microcredit for women, the impact of microcredit on women’s income, savings, and investment levels, and the barriers to women’s access to microcredit. A well-structured questionnaire was used to collect data for the study, which was given to 100 women in the study area who had access to microcredit. The respondents were chosen using a two-staged sampling technique. The data was analysed using descriptive statistics and regression analysis. The majority of women in the research region received credit from four microcredit institutions in Edo State, with the majority (33.33 percent) obtaining N30,000.00 or more, according to the data. Family size and loan volume had a favourable and significant impact on respondents’ income. Women’s income and savings increased as a result of access to microcredit, with a difference in income and savings of N225, 809.50 and N9, 772.70, respectively, compared to their income and savings before to accessing microcredit. This showed that microcredit can be utilised to boost women’s income and savings, allowing them to live better lives. As a result, it is suggested that the government help raise awareness of microcredit institutions’ activities and credit functions through radio, television, and print media, so that more women are aware of their ongoing activities. More resources for these microcredit organisations should be made accessible so that more women can profit from the programme.

Author(s) Details:

K. O. Ilavbarhe,
Department of Agricultural Economics and Extension Services, University of Benin, Benin City, Nigeria.

O. B. Izekor,
Department of Agricultural Economics and Extension Services, University of Benin, Benin City, Nigeria.

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