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IMPACT OF MILLENNIUM DEVELOPMENT GOALS-MICROFINANCE SCHEME (MDGs-MFS) ON ENTREPRENEURIAL DEVELOPMENT OF YOUTHS IN FEDERAL CAPITAL TERRITORY, NIGERIA

Author

Listed:
  • Balogun, Abdulrasheed

    (Nasarawa State University)

Abstract

The study examines the impact of Millennium Development Goals-Microfinance scheme (MDGsMFS) on the entrepreneurial development of Youths in Federal Capital Territory, Nigeria forthe period of implementation of MDGs-MFS in FCTbetween 2008 and 2015 with cross-sectional data. The main objective of the study is to empirically determine the impact of MDGs-microfinance scheme on the entrepreneurial development of youths in FCT communities. The study employs both primary and secondary data obtained from the beneficiaries and FCT-MDGs/microfinance banks using copies of questionnaires administered on 86 youths across the six Area Councils and policy files/documents respectively. The studyintroduces one dependentvariable ofentrepreneurialdevelopmentproxiedby the income status/level of the beneficiaries after the scheme and two independent variables, microfinance loans and loan repayment. The method of research adopted is survey; the study used both inferential and descriptive statistics by employing the techniques ofmultiple regression analysis tested at 5% significant level which comprises of ANOVA, correlation test and the co-efficient of regression. The findings revealed that the MDGs-microfinance scheme has significant positive impact on the entrepreneurial development of youths in the six area councils of FCT covered. The paper therefore recommends the use of MDGs-type microfinance scheme to the other 768 local governments and other tiers of government in Nigeria in order to ensure rapid entrepreneurial development, economic prosperity, poverty reduction and wealth creation through the medium of the microfinance scheme forthe youths.

Suggested Citation

  • Balogun, Abdulrasheed, 2019. "IMPACT OF MILLENNIUM DEVELOPMENT GOALS-MICROFINANCE SCHEME (MDGs-MFS) ON ENTREPRENEURIAL DEVELOPMENT OF YOUTHS IN FEDERAL CAPITAL TERRITORY, NIGERIA," International Journal of Contemporary Accounting Issues-IJCAI (formerly International Journal of Accounting & Finance IJAF), The Institute of Chartered Accountants of Nigeria (ICAN), vol. 8(2), pages 158-181, September.
    • Handle: RePEc:ris:ijafic:0029
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    References listed on IDEAS

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    1. AfDB AfDB, 2013. "Millennium Development Goals (MDGs) Report 2013 - Executive Summary," MDG Report 471, African Development Bank.
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