Problems and Prospects of Small and Medium-scale Enterprises in Nigeria

The role of SMEs in economic development cannot be overemphasised. This is more so because the huge earnings from entrepreneurs boost National Income (NI) thereby increasing the nation’s Gross Domestic Product (GDP). But the case is different in Nigeria, where SMEs have performed below expectations due to a combination of factors ranging from the unproductive attitude and habits of entrepreneurs through some economic-related factors such as inconsistent governmental policies, high taxes and levies, and inadequate funding.To this extent, Irobiko Chimezie Kingsley analysed Nigerian business environment with a series of surveys to capture the challenges of SMEs, identify opportunities to unlock growth and investment, provide solutions, mitigate risks, and assess the outlook for SMEs across industries — through the eyes of their CEO's.