The Impact Of Small And Medium Enterprises Financing On Poverty Reduction In Nigeria

The Impact Of Small And Medium Enterprises Financing On Poverty Reduction In Nigeria

Abstract

Nigeria, like other developing countries, has continued to grapple with the imminence of poverty despite several profitable programs and programmes enforced by colorful governments. This study was thus accepted to assess the impact of small and medium enterprises financing on poverty reduction in Nigeria from 1991 to 2010. Using ordinary least square( OLS) logical fashion, data from the central bank of Nigeria( CBN) statistical bulletin were attained. Findings revealed that there’s a significant relationship between small and medium enterprises backing and poverty reduction in Nigeria. still, affectation rate has a negative relationship with poverty. nevertheless, exchange rate has a positive relationship with poverty, whereas severance has a strong negative correlation with poverty in Nigeria. It was concluded that small and medium enterprises backing has a positive relationship with poverty in Nigeria. It was thus recommended inter alias that acceptable attention should be given to small and medium enterprises through channeling of further coffers to the sector. And that the government should as a matter of urgency diversify the frugality and produce further jobs for the adding population to reduce the severance rate in the country, thereby reducing poverty.