Kwara State University
Eunice OLUGANNA
Designation: Lecturer II
Department: Accounting and Finance
| My Publications | ||||||||
|---|---|---|---|---|---|---|---|---|
| S/N | Title | Abstract | Authors | Volume Numbers | Publication Type | Publication Date | Link | |
| 1 | The Impact of small and medium scale enterprises financing on Nigerian gross domestic product. |
The availability of finance to small and medium scale enterprise (SMEs) in Nigeria is one of the myriads of challenges facing SMEs quest for survival and meaningful contribution to economic growth. This is on the backdrop of high-cost funds which makes most SMEs incapable of accessing these needed funds. This paper, therefore, examines the impact of small and medium scale enterprise financing on the Gross Domestic Product. The study adopted the use of time series data obtained from statistical bulletin of central bank of Nigeria spanning over a period of twenty-one (21) year from 1992 to 2011. The study employed an ordinary least square econometric tool to estimate the model. The result shows that loans by microfinance banks to small scale enterprise have a significant impact on Gross Domestic Product while interest rate has a negative impact on Gross Domestic Product. Consequently, the study recommends that commercial banks should be given incentives to extend financing to SMEs at a single digit and reduced interest rate in order to increase the contribution of SMEs to Gross Domestic Product. The microfinance banks also are encouraged to extend more finance to SMEs in Nigeria. | Adeniyi, I., Mubaraq, S., Henry, J., and Oluganna E. | 9(1) | African Journal of Stability and Development | 2015-02-26 | ||