GOVERNMENT POLICIES AND PROGRAMMES ON FINANCING MICRO, SMALL AND MEDIUM ENTERPRISE IN NIGERIA

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ABSTRACT


Adequate supply of financial resources is a necessary condition for the survival of any business. This study tends to review government policies and programmes on financing MSMEs in Nigeria. Both primary and secondary data were employed to arrive at the results with the use of statistical method of testing hypothesis chi-square (X2) 13.62 > 9.49 the calculated value is greater than the critical or table value. The results reveal that there is a significance effect between government policies/programmes towards growth and development of MSMEs in Nigeria. This study recommend that government should not relent in its effort of creating more awareness and enlightenment campaign about its policy and programmes and MSMEs should use the said loan or government grant on the purpose the loan/grant is meant for through strict supervision of project by the government agent.


TABLE OF CONTENTS

TITLE PAGE
TABLE OF CONTENTS

CHAPTER ONE
INTRODUCTION
1.1       BACKGROUND OF THE STUDY
1.2       STATEMENT OF THE PROBLEM
1.3       OBJECTIVES OF STUDY
1.4       SIGNIFICANCE OF STUDY
1.5       RESEARCH QUESTION
1.6       STATEMENT OF HYPOTHESIS
1.7       SCOPE OF STUDY

CHAPTER TWO
LITERATURE REVIEW
2.0       INTRODUCTION
2.1       DEFINITION OF MICRO SMALL AND MEDIUM ENTERPRISES
2.2       FINANCIAL PROBLEMS FACED BY MSME’S BEFORE GOVERNMENT INVENTION
2.3       GOVERNMENT POLICIES AND PROGRAMMES ON FINANCING MSMES INVESTMENT IN NIGERIA
2.3.1    NATIONAL ECONOMIC RECONSTRUCTION FUND ACT
2.3.2    CENTRAL BANK POLICES/GUIDELINES/SCHEME
2.3.3    MICRO, SMALL AND MEDIUM ENTERPRISES DEVELOPMENT FUND (MSMEDF)
2.3.4    NATIONAL DIRECTORATE OF EMPLOYMENT (NDE)
2.3.5    THE PEOPLE'S BANK OF NIGERIA (PBN)
2.3.6    COMMUNITY BANKS (CBS)
2.3.7    NIGERIAN AGRICULTURAL, CO-OPERATIVE AND RURAL DEVELOPMENT BANK (NACRDB)
2.3.8    THE BANK OF INDUSTRIES (BOI)
2.3.9    SMALL AND MEDIUM INDUSTRIES EQUITY INVESTMENT SCHEME (SMIEIS)
2.3.10  MICRO-FINANCE BANKS
2.3.11  THE SMEDAN
2.3.12 THE NATIONAL ECONOMIC EMPOWERMENT AND DEVELOPMENT STRATEGY
2.3.13 ENTREPRENEURSHIP DEVELOPMENT CENTRES (EDCS)
2.3.14 SMALL AND MEDIUM SCALE ENTERPRISES GUARANTEE SCHEME (SMEGS)
2.4       THE IMPACT OF SUCH POLICIES/PROGRAMMES TO MSMES

CHAPTER THREE
3.0 RESEARCH METHODOLOGY
3.1 INTRODUCTION
3.2 RESEARCH DESIGN
3.3 POPULATION AND SAMPLE SIZE
3.4 INSTRUMENT OF DATA COLLECTION
3.5 RELIABILITY OF THE INSTRUMENT
3.6 METHOD OF DATA COLLECTION
3.7 METHOD OF DATA ANALYSIS
3.8 VARIABLE MEASUREMENT AND SCALING VARIANCE

CHAPTER FOUR
DATA PRESENTATION AND ANALYSIS
INTRODUCTION
4.4 DATA ANALYSIS ON THE MSMEs RESPONSE TO THE QUESTIONS
4.5 HYPOTHESIS TESTING
4.6 SUMMARY OF FINDINGS

CHAPTER FIVE
SUMMARY, CONCLUSION AND RECOMMENDATION
5.1 SUMMARY
5.2 CONCLUSION
5.3 RECOMMENDATION
BIBLIOGRAPHY

QUESTIONNAIRE


CHAPTER ONE

INTRODUCTION

1.1   BACKGROUND OF THE STUDY

The financing of micro, small and medium enterprises investment is today the major pre-occupation in various economies in the world and Nigeria in particular, there is a general consensus among such enterprises stakeholders in the country that accessing finances and financial services is the major problems affecting the sector and the economy. Adequate and access financing is a necessary condition for the survival of any business enterprise and considering the fact that the contribution of micro small and medium enterprise to employment generation and capacity building.

It was based on those fact that the successive government in Nigeria initiated programmes and policies toward financing MSMEs with the intention of enhancing availability of funds for enterprises development in the country.

Some of this policies include the one issue by central bank of Nigerian (CBN) annual guidelines for banking operation in the country, thus guidelines have consistently serve as a policy directing commercial banks to extend Ten

(10)  persons of all loan advances to micro small and medium enterprises. The policy was later modified and allowed banks to extend 10% of their profit before tax to such enterprises.

Also in order to encourage entrepreneur micro, small and medium to secure loan the government come up with policy and programmes Nigeria export import Bank (Nexim) was established to offer incentive of guarantee and facility to local entrepreneurs to boost export, the introduction of national credit guarantee scheme (NCGS) aimed at providing financial support to mention just but few.

Although, if efficiently carried out/implemented the economy would be able to mobilize or yield proportionate result in terms of financial accessibility, that no viable project like micro, small and medium enterprises is frustrated due to lack of finance.

1.2   STATEMENT OF THE PROBLEM

There has been public outcry and critics of Governments policies and programmes especially toward financing... 

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