Nigerian Socio-Economic Development: The Roles and Challenges of Small and Medium Entreprises Development Agency of Nigeria (SMEDAN) A Descriptive Perspective
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Abstract
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In recent time, no other sector has been given so
much attention in Nigeria’s development plans as the small and
medium industrial sector. There has been a conscious decision to
de-emphasis the capital intensive, large scale industrial projects
by the three tiers of government in Nigeria and put more
emphasis on small scale enterprises. Small scale enterprises have
been observed over the years to have immense potentials for
socio-economic development of a nation. The objectives of the
paper is to establish the immense potentials of small and medium
enterprises (SMEs) in Nigeria, to identify the challenges being
faced by SMEs in Nigeria and the roles of Small and medium
Enterprises Development Agency of Nigeria (SMEDAN) in
addressing these challenges. This reviewed work revealed that
SMEDAN is faced with a lot of challenges ranging from
inadequate fund, tribalism, nepotism, lack of
enlightenment/campaign amongst others. From reviewed of
literature, it was found out that SMEDAN has not carried out its
roles to a large extent to help alleviate the challenges faced by
small and medium enterprises in Nigerians. It is recommended
that there should be more awareness about the existence of the
agency and it roles, there should be checks and balances to curb
corruption etc. These will help the agency to carry out its roles
efficiently and effectively so that the small and medium
enterprises will have greater impact on the socio-economic
development of Nigeria.
Keywords
H Social Sciences (General)