Small and Medium Scale Enterprises and Economic Growth in Nigeria

Uju Victoria Okoli and Ifeoma Rita Ezedebego
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Uju Victoria Okoli: Department of Economics, Nnamdi Azikiwe University, Awka, Anambra State, Nigeria
Ifeoma Rita Ezedebego: Department of Economics, Nnamdi Azikiwe University, Awka, Anambra State, Nigeria

International Journal of Research and Innovation in Applied Science, 2025, vol. 10, issue 4, 596-610

Abstract: This study examines Small and Medium scale Enterprises (SMEs) and economic growth in Nigeria with the aid of secondary data sourced from World Bank Development Indicators (WDI), CBN annual statistical bulletin and bulletin of the national bureau of statistics (NBS) covering a period of 1990-2024. The method of analysis employed was the ordinary least square method of multivariate regression utilized in analyzing the log-linearized Model of real gross domestic product (RGDP) as dependent variable and Agriculture, Manufacturing, educational institution, Renewable energy SMEs as independent variables. The estimated model shows that that all four variables had a significant positive impact on RDGP thereby highlighting the importance of these four components to promoting economic growth. The study recommends that the government should assist these SMEs by granting loans, access to finance, reduced taxation and subsidies that will improve their productivity and in turn have a positive impact on economic growth in Nigeria.

Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:bjf:journl:v:10:y:2025:i:4:p:596-610

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