Publisher: Bachudo Science Co. Ltd

Analysis of Micro-Credit As A Strategy For Poverty Alleviation In Rural Cross Rlver State; Nigeria

H. M. Ndifon, N. I. Ofem, O. E. Ntiu
KEYWORDS: Micro-credit, strategy, poverty alleviation. Cross River State, Nigeria


Micro-credit mobilization has been acknowledged world wide as a veritable tool for poverty alleviation in poor countries. Their growing importance in the development of the information sectors and rural development has necessitated the study which focus is to analyze the various micro-credit sources for the poor in Cross River State, Nigeria. The study reveals a preference for formal micro-credit sources by the poor for sustainable livelihood activities The study particularly indicates that because of limited access to capital, micro-credit has not significantly impacted on poverty alleviation in the study area, although it has a strong, positive significant correlation with poverty alleviation. Hence, the study recommends the expansion of formal the micro-credit outlets in rural areas and the building of synergies between formal and traditional micro-finance in order to create the much desired impact.

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