Microfinance Policy Thrust and Women Empowerment in Ogun, State, Nigeria

Abstract

The study examined the microfinance policy thrust for women empowerment in Nigeria; these were with a view to investigating the impact of microfinance policy on women economic development in Ogun State. The study adopted survey research design. Primary and secondary data were used utilised for the study. Primary data were collected through the administration of questionnaire and conduct of interview. For the questionnaire, a sample size of 221 respondents, consisting market women who were the beneficiaries of the microfinance scheme (180), Microfinance Desk Officers of the Central Bank (11), Ogun State branch, and staff of Ministry of Women Affairs and Social Development (30) selected across the three senatorial districts in Ogun State. Multistage sampling technique was also used for the study. Secondary data were obtained from official publications, textbooks, journals, and internet. Data collected were analysed using content analysis. The study revealed that local governments of Ogun State were participating in the microfinance policy thrust (̅χ=3.6), the policy grants women access to loans (̅χ=3.6), and the policy enhanced linkage among microfinance institutions (̅χ=3.7). The study concluded that microfinance policy had a positive significance on women empowerment in Ogun State.