MICROFINANCE CREDIT AND ASSET ACQUISITION BY WOMEN TRADERS IN AKURE METROPOLIS, ONDO STATE

Abstract

This study evaluated the effect of microfinance credit on micro and small-scale women traders’ asset acquisition in Akure Metropolis. Survey design was used for the study. Primary data were collected. Purposive sampling technique was used to select the women traders (16,570) on the list of Lapo and Nigeria Police Force microfinance, Akure Metropolis. The sample size (391) was selected by Taro Yamane’s formula. Structured copies of questionnaire were used to collect data, while data were analyzed with Pearson Product-Moment Correlation Coefficient (PPMCC). Hypothesis was tested with PPMCC in conjunction with Chi-square, at .05 level of significance. The result showed a positive and high correlation (.851) between microfinance credit and small-scale women traders’ asset acquisition. Also, microfinance credit had a significant effect (p = 0.000) on women traders’ asset acquisition in the study area. The paper recommends the need for women traders in Nigeria in generally and Ondo State in particular, to have adequate access to credit in other to afford more assets and expand their businesses.