Entrepreneurship Development and Poverty Reduction Among Micro Business in Makurdi Benue State, Nigeria

Abstract

The study investigated the influence of entrepreneurship development on poverty reduction among micro businesses in Makurdi Benue State, Nigeria Currently, business closures, rising unemployment, and widespread poverty characterize the Nigerian economic landscape. Despite the critical role of micro businesses in the economy, their performance in Nigeria is notably poor, with low survival rates and minimal contributions with the objective, Ascertain the effect of credit scheme on poverty reduction among micro businesses in Makurdi Benue State. using a descriptive research design, descriptive statistics and regression technique of the Ordinary Least Square (OLS) on a sample of 147respondents that were purposively drawn from micro businesses in Makurdi Benue State.  using Yamane’s (1967) statistical formula, while sample stratification was achieved using Bowley’s (1964). Data is collected through the use of a structure modified four-square Likert scale questionnaire, while data is processed using Statistical Package for Social Sciences (SPSS version 20 for Microsoft Windows). From the analysis of the study, findings revealed that: Credit Scheme has a positive significant effect on poverty reduction among micro businesses in Makurdi Benue State, Nigeria. Based on the findings of this study, the following recommendations are made: To enhance poverty reduction among micro businesses in Makurdi Benue State, the government should ensure credit facilities are provided to operators of micro business at reasonably low interest rates and encourage borrowers to repay back on time. The government should ensure that beneficiaries of the credit scheme must undergo compulsory skill acquisition in a line of trade.