Sustainable Poverty Alleviation through Integration of Waqf and Microfinance: A Case Study of Sokoto State, Nigeria
Date
2017-10Author
Yusuf Sanyinna, Abu Bakar
Muhammad Farihal, Osman
Hydzulkifli Hashim, Omar
Metadata
Show full item recordAbstract
This is an exploratory research aimed at unveiling many myths surrounding the
prevalence of poverty in the Nigerian State of Sokoto. This study attempts to disclose the
failure of previous conventional poverty-alleviation programs and suggests ways of
resuscitating waqf institution in order to achieve sustainable poverty alleviation in the
state. Case Study Approach of Qualitative Research Method was adopted in this research
and data was collected through relevant literature survey, face-to-face interview,
observation and archival studies. Descriptive technique was used for data analysis
findings indicate that poverty in Sokoto State remains resistant to all successive
conventional measures of its alleviation. The potentials of waqf are found not adequately
harnessed for sustainable poverty alleviation. Thus, there is a need for re-focusing the
activities of waqf institution towards achieving the ultimate goal. Waqf-based
microfinance evidently proved to be an effective way of alleviating poverty which can be
achieved by financing MSMEs and enhancing earning potentials of the poor. Weak
management of waqf properties amounts to waste of hard-earned resources. While
prevalence of poverty culminates in the rising rate of ignorance, unemployment, hunger,
diseases and social vices. All stakeholders in the phenomenon; arms of government, the
rich, scholars and the general public, should be live up to their respective
responsibilities. Unlike zakah that has confinements and limitations, waqf has an openended pooling system that can squarely tackle the problem of poverty if professionally managed.