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
- Lagos State University, Ojo, Lagos State 8
- Landmark University, Omu-Aran, Kwara State 1
- Lead City University, Ibadan, Oyo State 2
- Lens Polytechnic, offa, Kwara State. 227
- Madonna University, Elele, Rivers State 22
- Madonna University, Okija, Anambra State 2
- Mcpherson University, Seriki Sotayo, Ogun State 1
- Michael and Cecilia Ibru University, Owhrode, Delta State 1
- Michael Okpara University of Agriculture, Umudike 46
- Michael Otedola Col of Primary Educ. Epe, Lagos (affl To University of Ibadan) 8