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Tsukuba Business-Academia Cooperation Support Center, Agriculture, Forestry and Fisheries Research Council Secretariat of the Ministry of Agriculture, Forestry and Fisheries, Japan (MAFF) was established in 1978 as Tsukuba Office and has been planning and operating various research facilities for supporting experimental research activities of research agencies, prefectural organizations and universities. The Tsukuba Business-Academia Cooperation Support Center is currently managing two centers, Agriculture, Forestry and Fisheries Research Infor [...]

Journal Article

Journal Article

The limitations of microfinance as an instrument of poverty alleviation: Lessons from the Nigerian experience  [2005]

Unufegan, J.I. (Nagoya Univ. (Japan)); Nishimura, Y.;

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Using the operations of the People's Bank of Nigeria as a case study of microfinance program in Edo State, Nigeria, this paper takes a close look at the limitations of microfinance institutions in trying to achieve self-sustainability in their operations while addressing the financial needs of the poorest poor at the same time. The authors using criteria such as the number of loan beneficiaries as against total loan applicants, the impact of loan on asset acquisition, continuity of loan, relationship with informal financial sector as well as the effectiveness of solidarity groups as a vehicle of social mobilization have argued that microfinance operations in the area under study could not really meet the financial needs of the hard-core poor nor could it operate on a sustainable level as it had to depend on government for all its funding. The findings from the study showed that the geographical location of clients, environmental condition, government policies as well as local culture could play a significant role in addressing this limitation to an extent. We concluded that one way to guide against this limitation is to have a clearly defined targeting mechanism, and a well stated objective of what a particular microfinance program is designed to achieve. It could then be evaluated against that stated goal. This is because the task of achieving self-sustainability while serving as a poverty reduction strategy especially among the hardcore poor seems insuperable.

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Bibliographic information

Language:
English
Type:
Summary
In AGRIS since:
2006
Volume:
15
Issue:
3
Start Page:
58
End Page:
68
All titles:
" The limitations of microfinance as an instrument of poverty alleviation: Lessons from the Nigerian experience "
Other:
" Summaries (En, Ja) "
" 4 tables; 2 fig.; 16 ref. "

From the journal

Journal of Agricultural Development Studies (Japan)

ISSN : 0918-9432