COMMUNITY WEALTH-BUILDING THROUGH GRASSROOTS MICROCREDIT IN NIGERIA

This study explores how grassroots microcredit programs contribute to community wealth creation in rural Nigeria, where traditional financial systems often exclude vulnerable populations. The research examines the long-term impacts of community-based lending initiatives on collective prosperity, using qualitative and quantitative data gathered from rural cooperatives and microfinance institutions between 2014 and 2023. Through analysis of cooperative records, household surveys, and institutional reports, the study reveals that participatory lending models strengthen local economies by fostering group savings, sustaining small businesses, and encouraging asset accumulation. Key findings show that when microcredit programs are rooted in community participation, they generate lasting benefits, including improved financial resilience, stronger local enterprises, and greater investment in community infrastructure. The study concludes that grassroots microfinance succeeds most when it prioritizes collective ownership over individual loans, creating a ripple effect of economic empowerment. As a key recommendation, policymakers should support community-managed lending circles with training and digital tools to expand their reach while preserving their local character.