EGBON, Anjola Helen and Covenant University, Theses Masters (2024) SOCIOLOGICAL IMPACTS OF NAIRA REDESIGN ON THE PERFORMANCE OF SMALL BUSINESSES IN OGUN STATE. Masters thesis, Covenant University.
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Abstract
This study examined sociological impacts of naira redesign on the performance of small businesses in Ogun state. The redesign of the Naira presented economic challenges for micro-businesses, many businesses suffered from depleted capital and financial hardship, and low sales resulted in low income affecting their family and well-being in the long run. This study focused on Ado-Odo LGA which helped in the geographical imbalance in the study of how naira redesign has affected MSMEs. A descriptive research design was used in this study with the use of a questionnaire in the collection of data from owners of MSMEs in Ado Odo Ota LGA. Data was collected from 314 MSME owners across various communities in Ado-Odo Ota LGA, like Sango, Iju, Atan, and Ota. The Covenant University Research Ethics Committee (CUREC) in Nigeria has awarded ethical authorization, guaranteeing compliance with moral norms. Micro, Small, and Medium Enterprises (MSMEs) in the Ado-Odo Ota Local Government Area revealed that the Naira redesign initiative had a negative impact on MSMEs, especially those with limited access to electronic payment methods. According to the research, it is recommended that MSMEs prioritize the development of digital literacy in order to maintain competitiveness in the digital age. Furthermore, it strongly advocates for the government to involve MSMEs in the development and implementation of policies. In conclusion, the naira redesign policy, intended to move towards a cashless economy and enhance the currency's security, inadvertently exacerbated the challenges faced by MSMEs.
| Item Type: | Thesis (Masters) |
|---|---|
| Uncontrolled Keywords: | Naira redesign, Micro Small and Medium scale Enterprises, Central Bank of Nigeria, Ado-Odo Ota LGA. |
| Subjects: | H Social Sciences > HM Sociology |
| Divisions: | Faculty of Law, Arts and Social Sciences > School of Social Sciences |
| Depositing User: | nwokealisi |
| Date Deposited: | 25 Sep 2024 13:20 |
| Last Modified: | 25 Sep 2024 13:20 |
| URI: | http://eprints.covenantuniversity.edu.ng/id/eprint/18455 |
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