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
- Ekiti State University 61
- Ekiti State University, Ado-Ekiti, Ekiti State 916
- Elizade University, Ilara-Mokin, Ondo State 100
- Emmanuel Alayande College of Education, Oyo. (affl To Ekiti State Univ) 2
- Enugu State Polytechnic, Iwollo, Enugu State 4
- Enugu State University of Science and Technology, Enugu, Enugu State 33
- Evangel University, Akaeze, Ebonyi State 2
- FCT COLLEGE OF EDUCATION, ZUBA ,( AFFILIATED TO ABU, ZARIA), FCT-ABUJA 5
- Federal College of Agricultural Produce Tech, Hotoro Gra Ext, Kano, Kano State 2
- Federal College of Educ. (Special), Oyo, Oyo State (Aff To Uni. Ibadan) 13