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
- Al-Hikmah University, Ilorin, Kwara State 3
- AL-ISTIQAMAH UNIVERSITY, SUMAILA, KANO STATE 1
- Al-Qalam University, Katsina, Katsina State 5
- Alex Ekwueme Federal University, Ndufu-Alike, Ebonyi State 92
- Alvan Ikoku College of Education, Imo State, (Affl To Univ of Nigera, Nsukka) 11
- Ambrose Alli University, Ekpoma, Edo State 492
- Anambra State College of Health Technology, Obosi, Anambra State 1
- Auchi Polytechnic, Auchi, Edo State 526
- Auchi Polytechnic, Auchi, Edo State. (affl To Nnamdi Azikiwe University, Awka) 3
- Audu Bako College of Agriculture Danbatta, Kano, Kano State 54