ABSTRACT

An emerging trend in the Banking Industry is the continuous springing of newly licensed   Microfinance Banks spread all over the country. These Banks are either owned by individuals, corporate bodies, groups or institutions of higher learning with the aim of providing financial services to people. The study is being narrowed to Gracefield Microfinance Bank Ltd as a reference, being one of the Microfinance Banks licensed by the CBN. To achieve the objective of this study, data were collected for statistical analysis through questionnaires administered to 152 respondents out of which 144 questionnaires were returned clean and coded in Statistical Package for Social Sciences (SPSS) Version 19.0. Based on the findings, granting of credit facilities by MFBs does not contribute to the development of entrepreneurship in Nigeria because most Nigerians are known for diverting credit facilities for other purposes such as housing, school fees, marriage, to mention a few. The research also concludes that financial services in MFBs have significant effect on entrepreneurship development in Nigeria. The study further concludes that credit awareness by MFBs does not contribute to the development of entrepreneurship in Nigeria. Being aware does not entail that the entrepreneur would access the credit. Some would not like to access credit facilities for fear of default or failure. 

TABLE OF CONTENTS

CHAPTER ONE:     INTRODUCTION

1.1              Background of the Study ………………………………………….1

1.2              Statement of the Problem…………………………………………. 3

1.3              Research Questions…………………………………………………4

1.4              Objectives of the Study…………………………………………….4

1.5              Hypothesis of the Study……………………………………………5

1.6              Significance of the Study…………………………………………-.5

1.7              Scope of the Study………………………………………………… 6

1.8              Limitations of the Study……………………………………………7

1.9              Definition of Key Terms …………………………………………...7

CHAPTER TWO:    LITERATURE REVIEW

            2.1       Introduction……………………………………………………….9

            2.2       Historical Background (Theoretical framework)…………………..9

2.3       Nature and Dimensions of Entrepreneurship Development……….11

2.4       Strategies for Promoting Entrepreneurship Development…………13.

            2.5       Government’s Past entrepreneurial & SMEs Support Initiatives….14

            2.6       The Prospects of Entrepreneurship in National Development……..16

            2.7       Challenges to the Entrepreneur in Nigeria………………………....19

            2.8       A Review of Microfinance Banks in Nigeria………………………23

            2.9        Granting of credit facilities by MFBs………………………..……24

           2.10       Financial services of MFBs.……………………………………….25

            2.11      Credit Awareness by MFBs……………………………………….27

            2.12     Summary of the Review ………………………………………..…27

            CHAPTER THREE:            RESEARCH METHODOLOGY

            3.1       Introduction…………………………………………………………30

            3.2       Research Design…………………………………………………….30

            3.3       Population of the Study……………………………………………..30

            3.4       Sampling Technique and Sample Size………………………………31

            3.5       Data Collection Instruments…………………………………………32