Micro-Savings and Poverty Reduction in Nigeria: Some Field Observations from Gokana Local Government Area of Rivers State

Ijeoma E. Kalu, Simeon G. Nenbee


This study had the objective of investigating issues relating to micro-saving and how it can be employed to reduce poverty in Gokana Local Government Area of Rivers State, Nigeria.  A field survey was conducted in which primary data were collected using a structured questionnaire.  A total of 102 micro-saving cooperative members were interviewed.  Based on descriptive statistics tools of percentages and simple averages, the study reveals that micro-saving is a veritable source of raising funds for investment. Also, lack of access to formal financial institution makes people to patronize micro-savings in Gokana LGA. Again, respondents engaged in micro-savings for emergencies and unexpected investment purposes while cultural obligations induce respondents to engage in micro-saving and more. It is therefore suggested that an enabling macroeconomic environment be given to informal financial sector of Nigeria. This can be achieved by encouraging members of the micro-saving cooperatives to register at least at the local government council to promote assistants from the government on their operations.

Keywords: Gokana, Micro-Savings and Poverty Reduction

Full Text: PDF
Download the IISTE publication guideline!

To list your conference here. Please contact the administrator of this platform.

Paper submission email: EJBM@iiste.org

ISSN (Paper)2222-1905 ISSN (Online)2222-2839

Please add our address "contact@iiste.org" into your email contact list.

This journal follows ISO 9001 management standard and licensed under a Creative Commons Attribution 3.0 License.

Copyright © www.iiste.org