O.G. OMOROKUNWA

This study examines the impact of microfinance on women’s economic empowerment in Edo State, Nigeria, using the Lift Above Poverty Organisation (LAPO) as a case study. The research is motivated by the persistent financial exclusion and structural inequalities faced by women, particularly those operating within the informal sector. It investigates how access to microfinance services, including loans, savings schemes, and training programmes, influences key dimensions of empowerment such as income generation, financial independence, and decision-making capacity. Adopting a descriptive survey research design, the study utilises primary data collected from 180 female beneficiaries of LAPO, with 174 valid responses analysed. Both descriptive and inferential statistical techniques, including multiple regression analysis, were employed to assess the relationship between microfinance services and women’s economic empowerment. The findings reveal that access to microfinance services has a significant and positive effect on women’s economic empowerment. Specifically, savings services and loan access emerged as the strongest predictors, while training and capacity-building programmes also contributed meaningfully to improved outcomes. The results further indicate that participation in microfinance enhances women’s ability to generate income, strengthens their financial autonomy, and increases their involvement in economic decision-making. However, the study also acknowledges that empowerment is multifaceted and influenced by contextual factors such as social norms and household dynamics. The study concludes that microfinance, when effectively designed and implemented, serves as a critical tool for promoting women’s economic empowerment and inclusive development. It recommends that policymakers and microfinance institutions strengthen gender-responsive financial products, expand access to savings-led initiatives, and integrate capacity-building programmes to ensure sustainable empowerment outcomes.

This study investigates the relationship between financial inclusion and economic growth in Nigeria, emphasizing the role of accessible financial services in promoting investment, employment, and income equality. Using secondary data from the Central Bank of Nigeria, the National Bureau of Statistics, and the World Bank from 2000 to 2023, the study analyzes indicators such as the number of bank branches, mobile money usage, savings rate, and credit to the private sector in relation to Gross Domestic Product (GDP) growth. The findings reveal a strong positive link between financial inclusion and economic growth, showing that greater access to financial services stimulates productive activities and enhances economic performance. However, factors such as poor financial literacy, infrastructural deficits, and limited rural access still constrain the full benefits of inclusion. The study recommends policies that promote digital finance, improve financial literacy, and expand financial infrastructure to achieve sustainable economic growth in Nigeria