The-Role-of-Small-Scale-Industry-in-Nigeria

Page 1 of 29

The-Role-of-Small-Scale-Industry-in-Nigeria

By | March 2011
Page 1 of 29
THE ROLE OF SMALL SCALE INDUSTRY IN NATIONAL DEVELOPMENT IN NIGERIA Ayozie Daniel Ogechukwu, Delta State University, Abraka, Delta State, Nigeria, The Federal Polytechnic, Ogun State, Nigeria Abstract A business whether small or big, simple of complex, private or public is created to provide competitive prices. Business in Nigeria has been classified as small, medium and large. In both the developed and developing countries, the government is turning to small and medium scale industries, as a means of economic development and a veritable means of solving problems. It is also a seedbed of innovations, inventions and employment. Presently in Nigeria, SMEs assist in promoting the growth of the country’s economy, hence all the levels of government at different times have policies which promote the growth and sustenance of SMEs. Small scale industry orientation is part of the Nigerian history. Evidence abound in the communities of what successes our great grand parents, made of their respective trading concerns, yam barns, cottage industries, and the likes. The secret behind the success of a self reliant strategy does not lie in any particular political philosophy, so much as the people’s attitude to enterprise and in the right incentive is adequate enough to make risk worthy businesses a necessity for the nation. There had been many policy actions by the government, governmental agencies and the private sector to promote SMEs in Nigeria. Many experts recognize marketing as a major problem and relevant solution to the growth of SMEs. This paper identifies the historical development and orientation of SMEs in Nigeria, tackles the operational definition and scope, describes the role of the Nigerian government as a participant, regulator and facilitator, both legally and politically in the growth of SMEs. It identifies the marketing problems of SMEs in Nigeria, the provision and enactment of beneficial and supportive laws, the provision of infrastructural facilities,...