The impact of microfinance on women’s empowerment in Niger State, Nigeria

There have been contentious debates among academics associated with issues of microfinance and women’s empowerment. For a developing country like Nigeria, the issue of microfinance has significance in providing solutions to poverty alleviation and women’s empowerment. This thesis investigates the impact of microfinance on women’s empowerment with a focus on Niger state, Nigeria. This study uses qualitative study method by making a list of customers registered with Edumuna Microfinance Bank (EMFB) as respondents. The data were collected using in-depth interviews and focus group discussions. The data were collected using purposive sampling where the respondents were divided into three groups namely women borrowers, non-borrowers and dropouts. The data were thematically analysed, and the findings reveal that the women understood the meaning and importance of empowerment. Microfinance has had an impact on the lives of the women where there was an increase in their monthly income and a change in their livelihood. Most of the women agreed with the advantage of savings as it provides them with the ability to have their own purchasing power. However, there are a number of respondents who thought that opening a savings account as a prerequisite for accessing microcredit and high loan interest rates make it difficult for them to obtain credit. The findings also reveal that even though there was an effort to provide training by the banks, this was not done in-line with the level of education of the women involved. In addition, existing women’s associations are often misused as part of the political agenda. In conclusion, this study suggests that the government provides more women empowerment programmes and ensures the continuity of the programmes so that women are more independent and ultimately become empowered.