The role of microfinance in wealth creation among the artisanal fisherfolks in Nigeria
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.
| Main Authors: | , , , |
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| Format: | conference_item biblioteca |
| Language: | English |
| Published: |
FISON
2008
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| Subjects: | Fisheries, Management, Nigeria, freshwater environment, Artisanal fishing, Financial institutions, Financial resources, Financing, Financial management, Fishery economics, |
| Online Access: | http://hdl.handle.net/1834/37970 |
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