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
- Temple-Gate Polytechnic, Osisioma, Abia State 1
- The Oke-Ogun Polytechnic, Saki, Oyo State 7
- The Polytechnic, Ibadan, Oyo State 15
- THOMAS ADEWUMI UNIVERSITY, OKO-IRESE, KWARA STATE 1
- UMA UKPAI SCHOOL OF THEOLOGY, UYO, AKWA IBOM STATE (AFFL TO UNIVERSITY OF UYO) 1
- Umaru Ali Shinkafi Polytechnic, Sokoto, Sokoto State 25
- Umaru Musa Yaradua University, Katsina, Katsina State 33
- Umca, Ilorin (Affiliated To University of Ibadan), Kwara State 1
- University of Abuja, Abuja, Fct 129
- University of Africa, Toru-Orua, Bayelsa State 4