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This paper is anchored on informal credit schemes and poverty reduction in Benue State. The study is aimed at assessing their impact on poverty reduction Benue State. Research questions were drawn on the basis of challenges faced by IFIs in mobilizing savings and disbursing same to members of these institutions and possible solutions in mobilizing savings and disbursing to members. The study was backed by the interpersonal distribution of income and social capital theory which define the relationship of certain people which transcend to their social and economic development. Also, the study adopted the use of mixed method of data collection with the aid of structured questionnaires in analysing data collected. Percentages and mean scores were employed in determining the effects of the credit scheme on poverty reduction in Benue State. Challenges of sustainability, such as loan diversion and poor repayment by recipients, poor funding of the sector were identified by respondents as major factors hindering the effective operation of IFIs. It’s recommended that government should introduce soft capital base to registered IFIs for use as loan by its members is not enough and repayment done within IFIs guidelines, and government should register these institutions to encourage safety of people’s money.
Orshi Philip Aondowase1, Prof. George A. Genyi2 & Ibrahim Musa Aliyu (PhD.)3
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An Assessment of Informal Credit Schemes and Poverty Reduction in Benue State
Orshi Philip Aondowase, Prof. George A. Genyi & Ibrahim Musa Aliyu (PhD.)
Editorial
Published: 28 September 2024
8(2) 89 - 106.
Abstract
Affiliations
Department of Political Science, Faculty of Social Science, Nasarawa State University, Keffi1,2,3
Corresponding Author
Orshi Philip Aondowase
Cite this article
Orshi P. A., G A. Genyi & Ibrahim M. A. (2024). An Assessment of Informal Credit Schemes and Poverty Reduction in Benue State. Otuoke Journal of Management Sciences, 8(2) 89 - 106.
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