Unlocking Finance for Small Businesses in Nigeria with Movable Collateral Laws.
Lack of access to finance is a major issue for small businesses in Nigeria. Traditional lenders often require fixed assets like land or buildings as collateral, which many small businesses don't have. In 2017, Nigeria introduced laws allowing businesses to use movable assets as collateral for loans. It's too early to say how effective these laws are, but a new study looks at how this legal framework could help small businesses get the funding they need.