PERCEPTION OF WOMEN TOWARDS MICROCREDIT SCHEME IN VADI COMMUNITIES OF KWARA STATE NIGERIA

Abstract

The study examined the perception of women towards microcredit scheme in Vadi communities of Kwara State. It specifically assessed the socio-economic characteristics of women beneficiaries, the types of microcredit institutions they patronize, and their perceptions of microcredit schemes. This study employed multistage sampling techniques for selecting the respondents Data collected from 300 respondents were analyzed using descriptive statistics. The findings indicated that majority (69.67%) of the respondentswere within the productive age range of …., predominantly married (85.33%), and largely literate, with 64.33% having formal education. The average Household sizes were 33.3 generally large, with 73% having 6–10 members. Women relied heavily on structured microcredit institutions, especially vadi (94.33%), followed by LAPO (48%) and SEAP (42%). Perceptions of microcredit were largely positive, as respondents viewed it as accessible year-round, a major source of livelihood and empowerment, and easier to obtain than commercial bank loans. Also the perceptions captured in this study support the view that microcredit programmes can be an important resource for women in agriculture seeking to improve their livelihoods and achieve financial independence o They also recognized its role in providing financial relief, facilitating asset acquisition, and supporting group lending to reduce default. Despite these benefits, concerns were raised about the constraints such as embarrassment, unfair treatment, and fluctuating interest rates. The study concludes that women in the study area perceived microcredit to be positive and significantly supports women’s economic activities. The studyrecommends the need for expanding outreach and improving loan processes to enhance effectiveness.