Micro Financing and Entrepreneurial Development in Nigeria; The Mediating Role of Marketing

Micro finance bank that is popularly known as bank for the poor is basically established to alleviate poverty and also to serve as a platform for promoting entrepreneurial development. The question is; to what extent has it been able to fulfil its basic functions in Nigeria? The primary objective of this study is to ascertain the extent to which micro financing has contributed to entrepreneurial development and also to find out the extent to which marketing techniques have be employed for effective and efficient delivery of their services. Copies of questionnaire were distributed purposively to only those that applied for or came to access credit facilities that were physically found in the banking hall in that particular week of study. The study is limited to the customers of ten micro finance banks located in Ojo LGA of Lagos state, Nigeria. Three hypotheses were developed and were subjected to descriptive, correlation and regression analysis. It was discovered that micro finance bank has been able to contribute significantly to the entrepreneurial development in Nigeria. Descriptive statistics show that some marketing techniques have not been fully employed by micro finance banks. The study makes useful policy recommendations which these banks will find beneficial if faithfully implemented