The Role of Government Policy Programme in the Growth and Development of MSMEs in Nigeria

Abstract

This research work is focused on understudying the role of government policy programmes in the growth and development of micro small and medium enterprises with a view of highlighting its relevance in contributing to the overall economic growth of the Nigerian economy from the standpoint of both the micro and macro-economic analysis. The policy in review is the national enterprise programme which serves as a vehicle for the promotion and development of MSMEs. However, this policy agenda is challenged in view of the multifaceted needs of MSMEs. The theoretical framework used for the study is the systems theory which conceives a system as comprising of different components or parts that are interdependent, integrated and function as a whole. Methodologically the research adopts an expost-facto research design which utilizes survey method to collect relevant data. Using inferential statistical approach hypotheses were drawn and tested using Chi-square method in seeking the correlation between the variables. Conclusions were drawn on the subject matter to suggest that government policy programmes have significant effect on micro, small and medium scale enterprises as they are instrumental in increasing output and mobilizing the resources that engenders the sustainability of the sustainable of any economy. Recommendations were made based on the findings for adequate funding and support services for MSMEs in addition to the proper management and the timely release of funds for MSMEs.