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Special Graduate Schools
Graduate School of International Studies
Department of International Trade
International Trade
3. Theses(Master)
THE ECONOMIC DEVELOPMENT OF NIGERIA
- Subtitle
- ROLE OF SMALL AND MEDIUM SCALE ENTERPRISES (SMEs)
- Author(s)
- PAUL ALEXANDER
- Advisor
- LEE KYUNG HO
- Department
- 국제대학원 국제통상학과
- Publisher
- Graduate School of International Studies Ajou University
- Publication Year
- 2018-02
- Language
- eng
- Keyword
- Nigeria; SMEs; Economic Development; Corruption.
- Alternative Abstract
- SMEs (Small and Medium Enterprises) play a very key role in economic growth and development of any country. The research seeks to highlight the economic development of Nigeria, in the scope of a vibrant and active SMEs sector. Nigeria, classified under low economy by World Development Indicator and Human Development Index, notwithstanding Nigeria’s rich human resource and abundance in natural mineral resources. This of cause is because of the long history of corruption by government officials and the so-called fathers of Nigeria’s civilization. Insecurity, social unrest, poor electricity, poor infrastructure, poor health care service, depleting educational standards among so many other vices, abound all because of the gross level of corruption that has plagued the country since after independence in 1960. For more than 30 years now, Nigeria has only depended on one mineral resource as the sole source of income, oil, where the huge amounts of proceeds from its sale are squandered and lavished among the corrupt political class and elites. The time for Nigeria to restructure her economy internally is now, and one way to do it is by investing and thriving the Small and Medium Enterprises (SMEs) sector. SMEs sector performance in the country is very poor, despite opinions from numerous authors and scholars, special programs and policies by the government, and foreign investment all in a bid to encourage SMEs in the country. In Nigeria, SMEs die even before they are born. Reasons for failures abound among SMEs and differ from one operator to another. Some complain about poor access to finance, while other talk about lack of basic infrastructure, basic amenities, poor access routes, poor access to markets either local or international, lack of entrepreneurial skill and much more. Corruption is the key problem that needs to be eradicated or curtailed. As most previous works on Nigerian SMEs have opined, SMEs performances are poor despite government’s so-called intervention. It will remain like that unless the government grabs the bull by its horns and make the needed changes and improvements to help SMEs thrive and succeed. The role SMEs play in job creation, as seen in many successful countries today is pivotal to economic development and growth. Vibrant and healthy SMEs hold the key to a successful development especially for developing nations. SMEs support growth of not just to the economy, but also to the improved standard of living for the people, and drives the innovation for competition is the economy.
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