Nigeria

Small and Medium Scale Enterprises and Nigeria Economic Growth (Published)

Globally, small and medium-sized businesses (SMEs) are acknowledged as key contributors to economic expansion. SMEs are seen as vital components of the Nigerian economy since they contribute significantly to job creation, income generation, and poverty alleviation. However, despite all these achievements of SMEs their performance in Nigeria has been a subject of concern for several years. This study measured empirically how SMEs have affected Nigeria’s economic growth using key macroeconomic indicators as the Commercial Bank Loan, Patent Application, Trade, Value Added Tax, among others. The study employed Bound tests and Co-Integrating Regression on data collected from World Bank database, United Nations Conference on Trade and Development (UNCTAD) data statistics, CBN Statistical Bulletin and World Investment Reports (2023). The study discovered that while patent applications has a negative effect on Nigerian economic growth, loans from commercial banks, inflation, value-added tax, labour force participation, and SME trade have a favorable impact. In order to support SMEs and growth in the Nigerian economy, it was suggested that a combination of fiscal and monetary policies be used by the Nigerian government. Policymakers should streamline loan application processes, reducing bureaucratic hurdles, and improving credit scoring mechanisms. The government should also foster more public finance, private led initiatives to provide SMEs with all they need to thrive in the economy.

Keywords: Nigeria, Small and Medium Scale enterprises., economic growth

Effects of the Adoption of Human Resource Management Practices on Employees’ Exit Decisions in Pharmaceutical Companies in Ado-Odo/Ota Local Government, Ogun State, Nigeria (Published)

This paper identified key Human Resource Management Practices (HRMPs) espoused by the pharmaceutical companies sampled, and explored the relationship between the practices and employees’ exit decisions. The study employed quantitative methodology to source data from 314 employees of selected pharmaceutical companies in Ogun State, and analysed it using SPSS v26 to extract both descriptive and inferential statistics. Findings showed that five of the HRMPs were mostly adopted in this descending order: leadership type (ranking 1^st), performance evaluation (2^nd), adequate career planning and recognition by employer (3^rd), compensation and benefits (4^th), and training and development (5^th). Also, HRMPs had significant influence on employees exit decisions; more specifically, and in descending order, rewards and career development (t=3.170; p≤0.01), communication and expectations, (t=2.342; p ≤0.01), and supervisory autonomy and review/evaluation (t=2.132; p ≤0.01) have the most impact on exit decisions. In conclusion, effective HRMs are cost effective to the pharmaceutical companies sampled.

Keywords: HRMPs, Nigeria, Ogun State., Pharmaceutical Companies, employee exits

A Qualitative Appraisal of Job Exits Pervasiveness among Small and Medium Businesses in South West Zone of Nigeria (Published)

This paper primarily examines the degree of Employee Turnover occurrence in the manufacturing and service SMEs in Southwestern Nigeria. The study adopted qualitative methodology, using interview technique to collect primary data from employees, owners and managers of the businesses. Forty-five in-depth interviews were conducted in the businesses in four of six southwestern states. The collected data was analysed using NVIVO Qualitative Data Analysis Software (QDAS). Research results revealed multiple exits of employees within a short period; exits also appeared common among professionals (e.g. accountants) and casual workers. Generally, high and frequent exits are rife amongst employees. Some of the complex reasons for leaving include inadequate remuneration, job casualisation, inability to provide for family members, poor condition of service, stress, victimisation and fear of the unknown. In conclusion, some owners and managers are still indifferent to the high level of employee turnover, creating the potential for further crises, including business collapse.

Keywords: Businesses., Employees, Nigeria, job exits, owner/managers, qualitative

Disentangling Rationales for Leaving: A Quantitative Multidimensional Account of Employee Turnover in Southwestern Nigeria Small and Medium-sized Enterprises (SMEs) (Published)

This paper appraised major reasons employees of Nigerian manufacturing and service SMEs’ exit their jobs from a holistic perspective rather than the seemingly parochial voluntary employee turnover angle alone.Following pre-field interviews, quantitative data was collected from 696 respondents adopting two structured survey questionnaires; data was analysed using both descriptive and inferential statistics. Contrary to widely held belief, results revealed that most exits are not necessarily voluntary, but reflect three multifaceted issues (Employee-Induced, Organisationally-Induced and Externally-Induced). Employees reported job alternatives (Exp(β) = 1.438), organisation as a great employer (Exp(β) = 1.301), reward-performance ratio (Exp(β) = .676) and internal opportunities (Exp(β) = .695), as critical to their exit decisions. Owners/managers indicated external job opportunities, employee leaving after training and low salary as playing major roles in their employees’ exit decisions. A Revised Model of Turnover of Nigerian SMES employees resulted from the findings.

Keywords: Nigeria, SMEs, employee turnover causes, multidimensional, quantitative

Predictors of Agricultural Technology Adoption Among the Cassava Farmers in the North- Central Nigeria (Published)

This research paper delves into the underexplored realm of agricultural technology adoption behaviour among cassava farmers in North Central Nigeria, with a focus on elucidating the predictors of technology adoption within the region. Leveraging a quantitative survey research design, data was collected from 377 cassava farmers through structured questionnaires. Findings reveal significant relationships between various factors such as performance expectancy, effort expectancy, social influence, facilitating conditions, price value, hedonic motivation, prior experience, and the adoption of agricultural technology. Through multiple linear regression analyses, it was established that these factors exert substantial influences on technology adoption behaviour among cassava farmers. Based on empirical evidence, policy recommendations were formulated to enhance the adoption of agricultural technologies among cassava farmers, aiming to foster a transition from subsistence to commercial farming, thereby bolstering agricultural productivity and socio-economic development in the region. These recommendations encompass governmental support for improved cassava seedlings, duty-free importation of agricultural implements, procurement and distribution of tractors, expansion of extension services, fertilizer production facilities, subsidized procurement of agricultural machinery, and enhanced importation policies for agro-chemicals. This research contributes to a deeper understanding of the complex dynamics underlying technology adoption in agricultural contexts, offering insights for policymakers, practitioners, and researchers alike.

Keywords: Nigeria, agricultural technology adoption, cassava farmers, effort expectancy, facilitating conditions, hedonic motivation, performance expectancy, price value, prior experience, social influence

Brand Equity and Purchase Behaviour Among Automobile Owners in Nigeria (Published)

This study centers on the influence of brand equity on the purchase of automobile. Over the last two decades, the majority of automobile users patronized used automobile but with the federal government new automotive policy, there seems a gradual decline in the purchase of these used automobile. Despite this, no empirical study has been done to look at the effect of brand equity on repurchase of automobile. The general objective of this study is to investigate the influence brand equity has on repurchase of automobile in Awka metropolis. The study employed survey research design and the population of study comprises owners of used automobile. Topman’s formula was used to arrive at the sample size of 246 automobile owners. The sampling technique was quota sampling and the research instrument was questionnaire. Cronbach’s alpha coefficient was used to test the reliability of the instrument. Data were analysed using descriptive statistics and multiple regressions were used to test the significance of the hypotheses. It was found out that brand loyalty is the strongest predictor of repurchase then, perceived quality. It was concluded that brand equity management and customer satisfaction strategies are needed for repeat purchase of used automobile. On the strength of the conclusion, we recommend that automobile dealers should as a matter of urgency engage the services of a professional brand equity manager and customer relationship manager. 

Keywords: Brand Equity, Nigeria, automobile market, purchase behaviour

Entrepreneurial Marketing Dimensions and Market Performance of Small and Medium-scaled Enterprises in Niger Delta, Nigeria (Published)

Although small and medium enterprises provide diverse employment opportunities and economic growth in the Nigerian economy, entrepreneurial marketing has received little attention in the Niger Delta region of Nigeria in spite of challenges faced by them. The study examined the entrepreneurial marketing dimensions and market performance of small and medium scale enterprises in Delta State. A sample of 245 respondents comprises of owners or managers of SME’s in Warri/Effurun Metropolis were selected for study. Convenience sampling techniques was used to select the sample after the area has been subdivided into zone with quota sampling methods. A survey research design was used to collect data from respondents through the use of questionnaire. Hypothesized relationships between the variables of study were tested using multiple regressions. Findings reveal that all the entrepreneurial marketing dimensions of pro-activeness, opportunity-focused, innovation-oriented, customer intensity, resource leveraging and value creation have significant positive relationship with market performance while risk making have a negative relationship. It is therefore recommended that owners and managers of SME’s should be pro-active, aggressive and innovative in design of strategies towards enhancing market performance in their organization.

Keywords: Entrepreneurial Marketing, Market Performance, Niger-Delta, Nigeria, small and medium-scaled enterprises

Entrepreneurial Marketing Dimensions and Market Performance of Small and Medium-scaled Enterprises in Niger Delta, Nigeria (Published)

Although small and medium enterprises provide diverse employment opportunities and economic growth in the Nigerian economy, entrepreneurial marketing has received little attention in the Niger Delta region of Nigeria in spite of challenges faced by them. The study examined the entrepreneurial marketing dimensions and market performance of small and medium scale enterprises in Delta State. A sample of 245 respondents comprises of owners or managers of SME’s in Warri/Effurun Metropolis were selected for study. Convenience sampling techniques was used to select the sample after the area has been subdivided into zone with quota sampling methods. A survey research design was used to collect data from respondents through the use of questionnaire. Hypothesized relationships between the variables of study were tested using multiple regressions. Findings reveal that all the entrepreneurial marketing dimensions of pro-activeness, opportunity-focused, innovation-oriented, customer intensity, resource leveraging and value creation have significant positive relationship with market performance while risk making have a negative relationship. It is therefore recommended that owners and managers of SME’s should be pro-active, aggressive and innovative in design of strategies towards enhancing market performance in their organization.

 

Keywords: Entrepreneurial Marketing, Market Performance, Niger-Delta, Nigeria, small and medium-scaled enterprises

Financial Deficiency Syndrome and Behaviour of Low Income Earners in Rural Communities of Rivers State, Nigeria (Published)

This study examined the effect of financial deficiency on the behavior of low income earners in rural communities of Rivers State. The objective was to examine how financial deficiency affects the behavior of low income earner. One hundred respondents were selected from the 10 local governments in Rivers State. Questionnaire were designed and administered to the respondents in the local governments. Descriptive analysis and Pearson Product Correlation Coefficient with the aid of Statistical Package for Social Sciences was used as data analysis.  Findings revealed that financial deficiency have positive effect on the behavior of low income earners in rural communities of Rivers State. The study recommends that government should formulate policies that will reduce unemployment in rural communities, the needs to increase public awareness on financial inclusion in the rural communities. Efforts should be advanced by the government to reduce financial exclusion in the rural communities of rivers state and the regulatory authorities should ensure equitable distribution of financial institutions and financial servicing to the rural communities in Rivers State.

Keywords: Behaviour, Low Income Earners, Nigeria, Rivers State, Rural Communities, financial deficiency syndrome

Effects of International Marketing Environments on Entrepreneurship Development (Published)

Entrepreneurs all over the world seeks ways of introducing their products to international markets, unfortunately the international marketing environment pose a lot of opportunities and threats to foreign entrants. The cultural environment and political and technological environment has a lot to do in entrepreneurial success in global markets. This study employed the descriptive research design and questionnaires were used as instruments for gathering the much needed data. Findings revealed that the technological advancement has less significant impact on business transactions of international entrepreneurs which could be traceable to the fact that not all entrepreneurs are technological inclined to transact businesses. Furthermore, the political systems and governmental regulations on business dealings have a lot to do with entrepreneurial success in the international markets. The study recommends the establishment of a supportive governmental framework to serve as a platform for the willing entrepreneurs to succeed in the international market.

Keywords: Comparative Advantage, Entrepreneurship, International, Market, Nigeria