Small and Medium Enterprise Financing in Nigeria: Benefits, Challenges and Way Forward.

Abstract

The study aimed at evaluating the direct implications of SME financing on the economic development of Nigeria. The paper discussed the imperative for government intervention in SME financing and the various schemes by the government to address lack of access to finance by SMEs in Nigeria. Using lessons learnt from various countries’ SMEs scheme, the study concluded that SMEs in Nigeria has a long way to go for it to be relevant and play its crucial role in relation to contributing to the growth and development of the country.

Keywords: Nigeria, Small and Medium Enterprise, Financing,