The role of microfinance in wealth creation among the artisanal fisherfolks in Nigeria
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Date
2008
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Show full item recordAbstract
One of the greatest challenges in Nigerian rural development process particularly in the fishing communities, which are often isolated and vulnerable, is to address the constraints that exclude people from full participation in the management of their financial resources. Majority of fishers dwell along the margins of Lakes, Rivers and Creeks and mostly operate without dependable financial resources, business loans or a safe place to keep their savings. This, to a greater extent, inhibits their growth and expansion to the realization of formalized entrepreneur's status that constitutes a set-back to the sector and the National economy at large. However the recent economic transformations in the country pursue microfinance not only as a poverty alleviation tool but also as a sound and viable business. This paper reviewed the concept of microfinance, its implementation, roles, constraints etc. to serve as a guide for adoption and utilization amongst the artisanal fisher folks with the view to increasing their general well-being on a sustainable basis.Page Range
229 - 232Publisher or University
FISONConference Name
22nd Annual Conference of the Fisheries Society of Nigeria (FISON)Conference Location
Kebbi, NigeriaConference Date
12 - 16 Nov 2007Collections