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XCXCC

The document discusses the challenges faced by small scale enterprises in Nigeria and the need for government support through initiatives like the Enterprises Promotion Decree. It highlights the importance of developing these enterprises for economic growth and industrialization, emphasizing the need for domestic input production and strong producer incentives. The current economic constraints may inadvertently benefit small scale industries by encouraging local sourcing and manufacturing.

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2K views1 page

XCXCC

The document discusses the challenges faced by small scale enterprises in Nigeria and the need for government support through initiatives like the Enterprises Promotion Decree. It highlights the importance of developing these enterprises for economic growth and industrialization, emphasizing the need for domestic input production and strong producer incentives. The current economic constraints may inadvertently benefit small scale industries by encouraging local sourcing and manufacturing.

Uploaded by

ANYI
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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16.

8 percent, banks had little incentive to take they perceived as riskier private
sector debt. (USAID’s DCA Nigeria Brief 2009).
On what they perceived as riskier private sector debt. (USAID’s DCA Nigeria
Brief 2009).
In pursuit of self-reliance in a developing country particularly in Nigeria, the
central government enacted a decree called “Enterprises promotion Decree”
when there was need for small scale enterprises in the promotion of economic
development. This has since been at the fore front of development strategies.
However, many developing countries have failed to adopt these strategies
owing to their belief that it is a relatively slow process of industrialization.
Without the development of small scale enterprises in Nigeria, the nation’s
quest for industrialization will certainly remain forever at a slow pace. It is the
humble opinion of the researcher that futher development on our business
enterprises must add to the basic issue of creating linkage within the economy
to begin to yield real inputs to our economic activities. Priority attention must
therefore be given to those business enterprises for which domestic inputs
could easily produced. The objective should be to maximize the value added in
their processing and manufacturing as final strong producer incentive to small
scale enterprises are necessary not only to meet the food requirement but also
to promote growing input supplier industrial growth. The present economy
constraints may well turn out to be a blessing in disguise to our small scale
industry effort particulary for the dynamic manufacturing sector. For instance,
the market determine exchange rate through foriegh exchange market with its
resultant high cost of imported inputs may serve as impetus for industrialist to
intensity their search for loan

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