Browsing by Author "I. J., David"

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    THE EFFECT OF SMEs GROWTH ON THE NIGERIA ECONOMIC DEVELOPMENT
    (Department of Enterprenuership, Nasarawa State University, Keffi, 2012-08-15) 0. A., David; I. J., David; S., Ayodeji
    Small and Medium Enterprises play a very important role in development of the Nigerian economy. They serve as a source of employment generation, innovation, competition, economic dynamism which ultimately lead to poverty alleviation and economic growth. This research essay tries to establish if credits allocated to SMEs have significant impact to the Nigerian economy as measured by its GDP. The data used was a secondary data from CBN annual financial report for credit to SMEs and three sectors were selected for the study which are; agriculture, manufacturing and small scale enterprises. Four hypotheses were developed for the study and they were tested using Multiple Regression Analysis to determine the relationship and contribution of SMEs to the Nigerian GDP and Correlation Analysis to measure the close association between them. It was found that the regression model developed has a significant linear relationship but credit to the three SMEs sectors studied have no significant impact to the Nigerian economy as measured by GDP using the t-test values obtained from the multiple regression analysis. Appropriate recommendations were given to help curtail the setback experiences the country is facing which are majorly due to poor and inaccessible means to credit in financing the SMEs sector.