Browsing by Author "Makinde, Damilola Ayomiposi"

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A Longitudinal Study of Microfinance and Poverty Reduction in Nigeria
(2025) Adesina, Tolulope Femi; Makinde, Damilola Ayomiposi
This study investigated the impact of microfinance banks on poverty reduction in Nigeria, with a specific focus on their contributions to financial inclusion and economic empowerment. Despite numerous government-led poverty alleviation initiatives, poverty remains widespread, highlighting the need to explore alternative and sustainable approaches. Drawing on secondary data from the Central Bank of Nigeria and the National Bureau of Statistics, the research applies econometric methods to evaluate the relationship between microfinance operations and key poverty indicators. The findings reveal that microfinance banks play a significant role in reducing poverty by improving access to credit and supporting small-scale enterprises.The study recommends strengthening microfinance institutions through targeted policy interventions to enhance their long-term impact on poverty alleviation.
Impact Assessment of the Agricultural Credit Guarantee Scheme Fund on Agricultural Sector Growth
(Journal of Global Entrepreneurial Management, 2026) Omankhanlen, Alexander Ehimare; Akinjare, Victoria Abosede; Ehikioya, Benjamin Ighodalo; Makinde, Damilola Ayomiposi
The Agricultural Credit Guarantee Scheme Fund was established in 1978 by the military federal government in 1977 to incentivize banks to increase lending to the agricultural sector. However, the lack of repayment of previously lent loans has led to a shortage in the distribution of loans. The primary objective is to analyze the effectiveness of the CBN agricultural intervention program, specifically the Agricultural Credit Guarantee Scheme Fund, over 30 years from 1991 to 2020. Using the Ordinary Least Squares (OLS) method, a linear model was employed to examine the relationship between dependent and explanatory variables. The study’s findings reveal that the coefficient of the Agricultural Credit Guarantee Scheme Fund is negative, at the 5% level. This could indicate that beneficiaries in the sector are not making full use of the fund. The report proposes that banks focus solely on agricultural lending to encourage agricultural growth and ensure that loans are allocated toward their intended agricultural purposes to avoid money misuse.
Monetary Policy Rate And Poverty Reduction In Nigeria: The Role Of Microfinance Banks
(Jurnal Akuntansi dan Bisnis : Jurnal Program Studi Akuntansi., 2025) Adesina, Tolulope; Makinde, Damilola Ayomiposi; Omankhanlen, Alexander Ehimare
Poverty remains a major socio-economic challenge in Nigeria, despite the expansion of microfinance banking aimed at enhancing credit access for low-income groups. However, the effectiveness of microfinance banks (MFBs) in reducing poverty is increasingly shaped by macroeconomic conditions, particularly the Monetary Policy Rate (MPR), which sets benchmark interest rates across the financial system. High MPRs raise borrowing costs, making loans less affordable for the poor and small-scale entrepreneurs who depend on MFBs for credit. This study investigates the impact of changes in the MPR on poverty reduction in Nigeria, focusing on how monetary policy influences the lending capacity of microfinance institutions. The study is theoretically grounded primarily in the Keynesian Theory of Interest Rate and Investment and the Monetary Transmission Mechanism Theory, which explain how changes in interest rates influence investment and credit flows in the economy. The Credit Rationing Theory further informs understanding of how lending constraints affect credit availability for low-income borrowers. A quantitative approach is adopted, using quarterly time-series data from 2008 to 2023. The Johansen Cointegration Test and Vector Error Correction Model (VECM) are employed to examine both long-run and short-run relationships among key variables. Results show that a 1% increase in MPR leads to an estimated 0.48 percentage point rise in the national poverty rate. In contrast, increases in the loan-to-deposit ratio and capital adequacy ratio of MFBs are associated with reductions in poverty levels. The study concludes that monetary policy decisions significantly affect poverty outcomes through their influence on microfinance operations. It recommends that policymakers adopt inclusive monetary strategies that support affordable microcredit, while maintaining macroeconomic stability, to enhance financial inclusion and reduce poverty.
The Effect of Anchor Borrower's Programme on Agricultural Output in Nigeria
(International Journal of Agricultural Science, 2024-02) Makinde, Damilola Ayomiposi; Akinjare, Victoria Abosede; Omankhanlen, Alexander Ehimare; Isibor, Areghan Akhanolu