International Journal of Business and Social Science

ISSN 2219-1933 (Print), 2219-6021 (Online) DOI: 10.30845/ijbss

Contribution of Microfinance to GDP in Nigeria: Is There Any?
Abraham, H; Balogun, I.O

The study attempts to mirror the state of the institutions since 2006. The growth of microfinance in Nigeria is phenomenal with over 900licensed institutions mostly operating in urban areas. Though some microfinance banks have come and gone, there is still some vibrant ones providing services to their clients. Where is the strength of this industry in Nigeria? It is observed that providing the poor with good service, professional monitoring, supervision in accordance with best practice and a virile media is the key. Though the contribution of the financial sub sector of the Nigerian economy is below 1%, but there is room for improvement.

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