Impact of Islamic Entrepreneurship on Poverty Alleviation :The Case of Nigeria

Abstract

This study aims to understand the impact of Islamic entrepreneurship on poverty alleviation in the case of Nigeria. The growing poverty rate in Nigeria amongst a teeming population necessitates this study. The potential of religiously affiliated programs, in this case, Islam, to proffer new solutions to old problems also reinforced the conduct of the study. The growing entrepreneurial culture in Nigeria and globally and the SDGs also contributed to the discourse. The paper sets out to identify, if existent, the practical impact of Islamic entrepreneurship on poverty alleviation in the case of Nigeria. To achieve the goal outlined, the study utilized a qualitative approach through a literature synthesis of both theoretical and empirical studies on the topic. To this end, the study primarily focuses on the case of Islamic microfinance institutions in both the northern and southern parts of the country, and succinctly touches on the case of Islamic trust funds. The study established that Islamic entrepreneurship is promising in alleviating poverty. It further establishes that an improvement in the reach and adherence to Islamic principles by the Islamic enterprise would augment its impact in alleviating poverty. The study taps into a relatively unexplored realm and provides relevant insights for the government in optimizing its approach to combating poverty, and also insights for potential entrepreneurs on the promise that the sector holds.

Date of Award	2023
Original language	American English
Awarding Institution	HBKU College of Islamic Studies