Tag Archives: issues and challenges

Repositioning Small and Medium Enterprises in Nigerian Economy: Analysis of Issues and Challenges (Published)

This paper highlighted and discussed issue and challenges on repositioning small and medium enterprises in Nigerian economy. The small and medium scale enterprises are essential element in providing a solid base for a country economic development. The small and medium scale enterprises produce goods and services for both end and intermediate users and also utilize low capital cost for creating jobs especially in a fast growing services sector of the economy. Some of the issues and challenges that militate against the operations of Small and Medium enterprises in Nigeria are; Multiple taxation, poor management, financial problems, inadequate information base, location etc. Government over the years has formulated a number of policies aimed at developing small and medium Enterprises. While most policies actually failed due to poor implementation, others however, succeeded. The following recommendations among others are suggested by the authors; Policies initiated by the government should be funded efficiently. Government and financial institution should develop a holistic approach to schemes initiated by them. Nigerian should encourage locally made goods and government should continue to make SMEs a central focus of industrial policy in order to achieve economic growth and development.

Keywords: Economy, Small and Medium Enterprise, issues and challenges

Repositioning Small and Medium Enterprises in Nigerian Economy: Analysis of Issues and Challenges (Published)

This paper highlighted and discussed issue and challenges on repositioning small and medium enterprises in Nigerian economy. The small and medium scale enterprises are essential element in providing a solid base for a country economic development. The small and medium scale enterprises produce goods and services for both end and intermediate users and also utilize low capital cost for creating jobs especially in a fast growing services sector of the economy. Some of the issues and challenges that militate against the operations of Small and Medium enterprises in Nigeria are; Multiple taxation, poor management, financial problems, inadequate information base, location etc. Government over the years has formulated a number of policies aimed at developing small and medium Enterprises. While most policies actually failed due to poor implementation, others however, succeeded. The following recommendations among others are suggested by the authors; Policies initiated by the government should be funded efficiently. Government and financial institution should develop a holistic approach to schemes initiated by them. Nigerian should encourage locally made goods and government should continue to make SMEs a central focus of industrial policy in order to achieve economic growth and development.

Keywords: Economy, Small and Medium Enterprise, issues and challenges

The Issues and Challenges of Urban Renewal in a Developing Economy (Published)

Urban renewal is most often undertaken to make life safe, more secure and comfortable to the urban dwellers, to attract wealthier individuals to live in that area or to boost economic base or activities in that area. Urban renewal which may be also known as urban redevelopment is a veritable social gentrification technique. The bursting rate of urbanization has been one of the major issues/challenges which many national and local government authorities in developing nations/economies have to grapple with.  The main challenges of urbanization in most urban cities are acute shortage of shelter/housing, waste/garbage disposal, traffic jams or congestion and the deplorable state of the roads in some instances, flooding, crime and other social vices. Others include increase in demand for urban services namely- housing, education, public health and a generally decent living environment, loss of biodiversity and green house, warming, desertification, degradation of agricultural land, air and water pollution, environmental decay, slums, insanitation, overcrowding, housing congestion, crime and violence, etc. Nigeria urban centres are characterized by a dominant feature which is degrading state of the physical environment. The steps involved in urban renewal include planning, sensitization/consultation of the citizens or public hearing, land acquisition (revocation of rights of occupancy), displacement and relocation, site improvement and supporting facilities/infrastructure, disposition of improved land and new construction/development. Effective urban renewal actions are inevitable in our contemporary urban cities if our cities would compare with those of the developed economies or comparable developing economies. To this effect, specific policy issues and strategies should be put in place and conscientiously pursued and implemented. The paper concluded by putting up suggestions  to address the issues and challenges to our urban cities renewal efforts and they include good and effective governance, enhanced infrastructural development, keying into international and national sustainable developmental programme, public-private partnership strategy (PPPS). The leading role of the estate surveyor and valuer involved in the valuation/assessment of the purchase price or the amount of compensation payable to each claimant is also highlighted in ensuring a successful urban renewal programme.

Keywords: Developing Economy, Urban renewal, issues and challenges