Nigerian women face significant economic challenges, particularly in accessing formal financial services due to cultural and social barriers. A mixed methods study combining quantitative surveys with qualitative interviews to explore the impact of microfinance schemes on business expansion in Nigeria. Microfinance participants reported an average annual growth rate of 15% in their enterprises compared to 8% for non-participants, highlighting the positive effect of tailored financial support. Gender-specific microfinance initiatives significantly contribute to economic empowerment among Nigerian women by fostering enterprise expansion and resilience. Policy-makers should promote gender-sensitive microfinance programmes as a key strategy for inclusive economic development in Nigeria. Nigerian Women, Microfinance, Enterprise Growth, Gender-Specific Interventions, Economic Empowerment
Abiola et al. (Sat,) studied this question.