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Innovative Government-Backed Policy Measures in Nigeria for Sustaining MSMEs Post Pandemic
Abstract
This chapter investigates the adequacy of the innovative government-backed policy measures as a sustainability plan for micro, small, and medium enterprises (MSMEs) in the post-COVID-19 era in Nigeria. From a target population of 2,300 MSMEs, a sample of 729 companies was drawn using the sample determination formula of Parten. The 729 sampled MSMEs were randomly administered web-based questionnaires through their emails. In the end, the 169 responses received were analysed and the results presented using descriptive and inferential statistics. It was found that the lockdowns had adverse effects on production and supply turn-over, sales, profits, customer patronage of MSMEs. With regards to the government fiscal stimulus, it was found that the relief materials and cash assistance, tax relief, debt rescheduling, and support incentives were inadequate to forestall the adverse effect of COVID-19 on the business operations of MSMEs. In practical terms, the chapter confirms a strong readiness in Nigeria to sustain MSMEs in the post-COVID-19 era.
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