CONTEXTUALIZING RURAL ENTREPRENEURSHIP FOR SUSTAINABLE POVERTY ALLEVIATION: THE ROLE OF METREDS IN NIGER DELTA REGION

Abstract

Rural entrepreneurship stands as a recognised solution to achieve economic expansion and poverty reduction within low-income rural contexts. Numerous rural communities within Nigeria's Niger Delta region encounter substantial socio-economic obstacles because they lack financial resources and poor infrastructure, as well as a lack of proper business training programs. This research analysis evaluates the Mobile Empowerment Train Rural Entrepreneurship Development Strategy (MeTrEds), which functions as a community-based grassroots model to support rural entrepreneurship development while fighting poverty at its roots. The research utilises both qualitative ethnographic data obtained from MeTrEds participants through an ethnographic approach, alongside quantitative survey data collected from 380 entrepreneurs distributed across 48 communities. Research data shows that the MeTrEds program has achieved remarkable results in business sustainability and financial literacy while generating higher income for participants, which led to increased revenues and business expansion through the efforts of over 70% who took part in the program. The statistical analysis from regression shows that business survival, along with financial independence and access to funding, demonstrates significant correlations with MeTrEds participation. This research indicates that grassroots capacity-establishing efforts prove successful for creating permanent economic independence among rural business operators. MeTrEds surpasses conventional government-led initiatives because it uses neighbourhood-based training together with peer guidance systems and assistance that makes it more available and effective. The research results support scholarly analysis about rural entrepreneurship alongside poverty alleviation and the Capability Approach while demonstrating the value of self-directed economic strengthening schemes in poverty-stricken areas.