Effects of Fuel Subsidy Removal on Small and Medium Enterprises Growth and Development in Nigeria: Case of Block Making Industries

Dr. AKINOLA Emmanuel Taiwo, Dr. AKINTUNDE Samuel Akinrinola, Julianah Funmilayo Dr. AKINTUNDE-ADEYI, Seyifunmi Damilola Bademosi and Lolade Bashir Abdussalaam
Additional contact information
Dr. AKINOLA Emmanuel Taiwo: PhD in Business Administration – Entrepreneurship and Human Resource Management, Adeyemi Federal University of Education, Ondo, Ondo State, Nigeria.
Dr. AKINTUNDE Samuel Akinrinola: PhD in Social Studies, Department of Social Studies, Adeyemi Federal University of Education, Ondo, Ondo State, Nigeria
Julianah Funmilayo Dr. AKINTUNDE-ADEYI: PhD in Business Administration – Human Resource Management, Department of Business Administration, Bowen University, Iwo, Osun State, Nigeria.
Seyifunmi Damilola Bademosi: Ph.D Candidate in Religious Studies, Department of Religious Studies, Adeyemi Federal University of Education, Ondo, Ondo State, Nigeria.
Lolade Bashir Abdussalaam: 2015 Katalonia ln, Fresno, Texas. 77545

International Journal of Research and Innovation in Social Science, 2024, vol. 8, issue 6, 1245-1258

Abstract: The paper looks into how Nigerian SMEs, particularly those in the block-making industry, have been impacted by the removal of fuel subsidies and discusses potential solutions to help them get over challenges and seize new opportunities. It specifically examines the ideas of fuel subsidies, small and medium-sized businesses, and the block-making sector; assesses the financial effects of eliminating fuel subsidies on SMEs, especially those in the block-making sector; and finds potential remedies to the severe financial effects on SMEs, especially those in the block-making sector. The study adopted exploratory and qualitative research methods to determine the deeper understanding of the subject and influence of the removal of fuel subsidy on the growth and development of SMEs in Nigeria, which in turn showed the motivating factors behind the reactions of the entrepreneurs in the block-making industries and how it negatively affected their operations and economic activities of the industries.

Date: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://www.rsisinternational.org/journals/ijriss/ ... ssue-6/1245-1258.pdf (application/pdf)
https://rsisinternational.org/journals/ijriss/arti ... k-making-industries/ (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bcp:journl:v:8:y:2024:i:6:p:1245-1258

Access Statistics for this article

International Journal of Research and Innovation in Social Science is currently edited by Dr. Nidhi Malhan

More articles in International Journal of Research and Innovation in Social Science from International Journal of Research and Innovation in Social Science (IJRISS)
Bibliographic data for series maintained by Dr. Pawan Verma ().