A SYSTEMATIC REVIEW OF NIGERIAN GOVERNMENT POLICIES AND PERFORMANCE OF MICRO, SMALL AND MEDIUM ENPERPRISES

Abstract

Micro, Small, and Medium Enterprises significantly influence the economic diversification and social inclusion, making government to implement policies that contribute to the sector's performance. This review article explored these policies from 2020 to 2023. The study used Preferred Reporting Items for Systematic Review and Meta-Analysis to identify, screen, and select eligible articles. Secondary data were sourced from the Micro, Small and Medium Enterprises’ Survey Report and databases such as Google Scholar and Elsevier. The review included studies published in English, peer-reviewed journals, and those cited from 2018 till date and exclude unpublished articles, non-English publications, and those published before 2018. Policies put in place between 2020 and 2023 were also investigated to assess their objectives. Based on the inclusion and exclusion criteria, the study reviewed 25 empirical papers and 13 policies. It was established that the objectives of these policies were not fully achieved due to challenges such as inadequate regulatory reforms, limited capacity building, bureaucratic hurdles, and restricted market access. The study recommends intensified government intervention in Nigeria, focusing on regulatory reforms, capacity building, reducing bureaucracy, and improving market access. These efforts are very important for nurturing sustainable growth and ensuring the long-term viability of the sector.