CURBING UNEMPLOYMENT IN NIGERIA: SMALL AND MEDIUM ENTERPRISES AS VERITABLE PATHWAY

ABSTRACT

Unemployment has been and continues to remain a major problem in Nigeria. There has never been a time in Nigeria’s history where unemployment can be said to have been completely eradicated. This issue which has become a major bane in the Nigeria society with its attendant vices is the focus of this research work, to see how small and medium enterprises can serve as a veritable pathway out of the ugly situation. In view of the serious nature of the unemployment issue in Nigeria; some germane questions like if there exist any relationship between SMEs and curbing unemployment in Nigeria, challenges hindering SMEs growth, if government policies affects SMEs in its process of trying to curb unemployment in Nigeria were thoroughly looked into. This study adopted the survey design to bring forth its findings. Some of the findings revealed that issues like poor management, lack of access to finances/loans, inconsistency of government policies, inadequate infrastructures amongst other problems hinders SMEs from maximizing its potentials as a veritable tool I curbing unemployment. Some solutions which include that; the government being more flexible with its policies on loans to SMEs, enactment of laws to protect infant businesses from excessive taxes and rigorous registration process were suggested. With the current strides that small and medium enterprises has made and still making in some developed and developing countries; it is highly recommended that governments at all levels, corporate bodies and individuals look deeply vibrant aspect of SMEs to see how it can be used maximally towards curbing unemployment in Nigeria.