Current Volume 9
Microfinance Evolution in Nigeria: A 20-Year Impact Assessment and Global Contextualization
Abstract
This study critically evaluates the evolution and developmental impact of microfinance in Nigeria since the formal adoption of the National Microfinance Policy in 2005. By combining empirical data, comparative insights, and practitioner perspectives, the paper situates Nigeria’s experience within broader global trends in financial inclusion. The analysis highlights not only achievements but persistent structural and regulatory shortcomings that hinder the transformative potential of microfinance. Recommendations are made for systemic reforms, capacity building, and digital adaptation, with a vision for resilient, inclusive financial architecture aligned with the Sustainable Development Goals (SDGs) and the African Union’s Agenda 2063.
Keywords
Development Finance, Financial Inclusion, Microfinance, Microfinance, Regulation, Nigeria
Citations
IRE Journals:
Adetunji Afolabi
"Microfinance Evolution in Nigeria: A 20-Year Impact Assessment and Global Contextualization" Iconic Research And Engineering Journals Volume 8 Issue 12 2025 Page 1735-1740
IEEE:
Adetunji Afolabi
"Microfinance Evolution in Nigeria: A 20-Year Impact Assessment and Global Contextualization" Iconic Research And Engineering Journals, 8(12)
About IRE Journals
IRE Journals is an open access online journals established with an aim to publish high quality of research work in various diciplines. We have more than 6 years in publications. Over 2500+ papers already published.
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