The Impact of Lapo Microfinance Bank on the Economic Development of Gwagwalada Area Council,abuja
Student: Nasirat Boluwatife Alaka (Project, 2025)
Department of Business Administration
University of Abuja, Abuja, Fct
Abstract
AbstractThis study examines the impact of LAPO Microfinance Bank on the economic development ofGwagwalada Area Council, Abuja. The research focuses on key areas such as job creation, incomegeneration, entrepreneurship promotion, and poverty reduction. Data were collected through astructured questionnaire distributed to LAPO clients and local business owners, with 251 validresponses analyzed using SPSS version 26.0 to carry out descriptive and inferential statistics,regression analysis and ANOVA to test the hypotheses. Findings indicate that LAPO hassignificantly contributed to employment opportunities, expanded local businesses, and stimulatedeconomic diversification. The study concludes that microfinance plays a critical role in drivinglocal economic growth, empowering small businesses, and improving living standards. Itrecommends increased access to microfinance services and enhanced financial literacy to furtherboost economic development in the area.
Keywords
For the full publication, please contact the author directly at: alaka123nasirat2020@gmail.com
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Institutions
- Kashim Ibrahim University 15
- Kebbi State University of Science and Technology, Aliero, Kebbi State 6
- Kenule Benson Saro-Wiwa Polytechnic, Bori, Rivers State 19
- Kogi State Polytechnic, Lokoja, Kogi State 4
- Kogi State University, Anyigba 3
- Kwara State College of Health Technology, offa, Kwara State 9
- Kwara State Polytechnic, Ilorin, Kwara State 22
- Kwara State University, Malete, Ilorin, Kwara State 16
- Ladoke Akintola University of Technology, Ogbomoso, Oyo State 45
- Lagos State Poly, Ikorodu, Lagos State 2