Microfinance and aquaculture development for rural women in Nigeria

In many developing countries, active agricultural production takes place in the rural areas. The exploitation of natural fish stocks is reaching limits and aquaculture production has not yet fulfilled its potential despite the large expanse of land in our rural areas. Social and economic indicators for developing countries consistently show that women bear the brunt of hardship in poor communities. The World Bank aims to reduce gender disparities by enhancing women’s participation in economic development. The recent transformation in the country pursues microfinance as a poverty alleviation tool capable of improving the living standard of the rural dwellers to promote their productivity. Globally, women constitute the majority of microfinance clients because of their consistent in their repayment records. In Nigeria about 98% of microfinance institutions are located in the urban areas, which make accessibility difficult for rural dwellers. This paper reveals the need for microfinance institutions in improving fish production through aquaculture, thus enhancing women empowerment and livelihood. The pursuance of this goal will in effect, affect socio-economics of rural women and urban drift of young women in search for greener pasture