Record Details

Achieving inclusive economic growth and development in Nigeria through MSMEs

Journal of Economic & Financial Studies

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Field Value
 
Title Achieving inclusive economic growth and development in Nigeria through MSMEs
 
Creator Oseni, Ezekiel
Oseni, Elizabeth Funmi
 
Subject —
Economic growth; inclusive growth; manufacturing; mining; financial system.
G2; N1; N5; N6; O1; O2; 04.
 
Description The Nigerian economy has witnessed consistent average annual growth rate of 7.4% in the last few years, however, the impact of the growth on the citizenry remains insignificant while poverty, youth restlessness, kidnapping for ransoms, terrorism and other vices are on the rise. The objective of the study was to examine why the impact of the economic growth over the years has remained insignificant and what interventions are required to change the tide. The study discovered that the oil sector which is not labour intensive accounts for over eighty (80) percent of Government revenue and a major contributor to the nation GDP. The study also discovered that the poverty level and unemployment rate among the populace require urgent and drastic measures. The impactful measures will require creation of enabling environment, provision of relevant infrastructure and adequate funding programmes that can be easily accessed. The financial system like in any other economy is essential to attaining inclusive economic growth in Nigeria and it should be more supportive to the economy by abolishing existing lending conditions that make it impractically impossible for many MSMEs which are the engine of economic development to access funds. 
 
Publisher LAR Center Press
 
Contributor —
 
Date 2015-08-21
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Peer-reviewed Article
 
Format application/pdf
 
Identifier http://journalofeconomics.org/index.php/site/article/view/126
10.18533/jefs.v3i03.126
 
Source Journal of Economic & Financial Studies; Vol 3, No 04 (2015): August; 30-40
2379-9471
2379-9463
 
Language eng
 
Relation http://journalofeconomics.org/index.php/site/article/view/126/144
 
Rights Copyright (c) 2015 Journal of Economic & Financial Studies
http://creativecommons.org/licenses/by-nc/4.0