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
impact microfinance economic development gwagwalada council abuja
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