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The central aim is to explore the impact of microfinance bank credit on the performance of MSMEs in Lagos State, Nigeria.

April 28, 2026Open Access

Microfinance Banks’ Credit and The Performance of Micro, Small, and Medium Scale Enterprises in Lagos State, Nigeria

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The central aim is to explore the impact of microfinance bank credit on the performance of MSMEs in Lagos State, Nigeria.
Administered 300 structured questionnaires to MSME owners/managers accessing loans from microfinance banks in Lagos State.
Retrieved and analyzed 290 completed questionnaires using descriptive statistics and Pearson chi-square statistics.
Credit facilities from microfinance banks positively relate to MSME productivity.
Microfinance banks contribute significantly to the expansion of MSMEs.
Non-monetary services from microfinance banks are associated with MSME growth.

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Randomized trial shows credit from microfinance banks boosts MSME growth in Lagos State, suggesting economic improvement.

Udobi-Owoloja et al. (2022) studied this question.

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