Microcredit programmes have been implemented in Lagos, Nigeria’s self-help groups as a means to support and empower small business owners. The approach is conceptual rather than empirical, aiming at developing a comprehensive model that can be applied across various self-help group contexts in Lagos. The theoretical framework proposes a multi-dimensional approach to assess both business viability and social impact of microcredit initiatives. Future research should validate this model through empirical studies, with specific emphasis on scalability and replicability across different Nigerian regions.