Business, Management and Accounting
3 years ago

Private sector credit boosts small business growth in Nigeria.

SSRN Electronic Journal
Private Sector Credit and Small and Medium Scale Enterprises Development Nexus in Nigeria: An ARDL Approach
Cyril Madubuko Ubesie, Amalachukwu Ananwude, Esomchi Juliet Nnenna, Onyia Florence Ifeoma

Paper Summary

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Private sector credit in Nigeria has a significant impact on the development of small and medium scale enterprises. A study using data from 1986 to 2015 found that private sector credit and SME development are linked in the long run. The research also showed that private sector credit has a strong influence on SME growth, while exchange rates also play a role. To support SMEs, financial institutions should provide affordable credit, and the Central Bank of Nigeria should stabilize exchange rates to encourage SME expansion.