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Microfinance programme has been generally regarded as a development strategy that can enhance the economic performance of the poor. The government of Nigeria has made concerted efforts to alleviate poverty in the country. One of such efforts is Poverty alleviation through Microfinance loan but poverty still remains pervasive and widespread in the country especially in the rural communities. This study examines the role of microfinance vis-à-vis poverty reduction particularly in the SouthWest Zone of Nigeria. Data were collected through survey questionnaire in the study area. Descriptive Statistics together with Binary Logit Regression Model were employed to analyse the data collected. The result of the analyses revealed that microfinance loan made significant impact on the loan beneficiaries in the study area which lead to poverty reduction. The government is advised to provide more enabling environment to make Microfinance operations more effective in the country particularly in the rural areas. Microfinance Institutions are implored to create more awareness on their operations and make less stringent conditions for the loan accessibility.

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It is a truism that if Microfinance Institutions (MFIs) play their expected role, poverty will reduce and there will be more employment opportunity and adequate economic development particularly in the rural areas. Poverty is more devastating in Sub-Saharan Africa than the rest of the world. This paper examines the contributions of microfinance towards the rural poverty reduction. To achieve this objective, the study adopted multi-stage random sampling technique to collect primary data through the structured questionnaire. A total sample of 1,134 microfinance loan beneficiaries and non-beneficiaries were used as respondents from three (Ogun, Osun and Oyo states) out of six states in South- West Nigeria. Statistical Percentage Techniques were used to describe the characteristics of the sample from the study. The results revealed that microfinance has marginal effects on the rural poor in Southwest Nigeria. Policy makers are advised to provide adequate infrastructural facilities that will encourage MFIs to establish branches in the rural areas. MFIs should endeavor to create more awareness to the rural poor with realistic loan procedure that will encourage the poor to access microcredit loan.Keywords: Economic Development; Poverty; Microfinance Institutions; rural poor; Nigeria.

Marine Parks are established to protect an area of the sea zoned as a sanctuary for the protection of its marine eco-systems, especially coral reef and its associated fauna and flora, like sea grass bed, mangrove and the sea shore. In Malaysia, there are 6 marine parks to-date. The establishment of marine parks also attracts more tourists to the areas. For example, the number of visitors to Payar Marine Park increased tremendously from 3,668 visitors in 1990 to 133,775 visitors in 2002. However, too many tourists are thought by scientists to have damaged the coral reefs. This paper will estimate how much visitors are willing to pay to reduce damages to three marine parks in Malaysia; Payar, Redang and Tioman Marine Park. Willingness to pay estimates were obtained from the visitors using a double-bounded dichotomous choice version of the Contingent Valuation method.