Dwarfed Giant: Impact of Trade and Related Policies on SMEs in the Nigerian Textile Industry
Journal Title: International Journal of Academic Research in Business and Social Sciences - Year 2019, Vol 8, Issue 6
Abstract
This study examines the impact of trade-related policies on SMEs fabric manufacturers operating in the Nigerian textile industry. The Nigerian textile industry was the third largest in Africa and the second largest employer of labour after the government. However, from the 1990s, the industry started experiencing some challenges often linked to trade liberalisation policy under the World Trade Organisation (WTO). This placed SMEs textile fabric manufacturing firms under immense pressure to attain long-term sustainability as the productivity and competitiveness of the domestic industry were being threatened by foreign/external competitors from international markets. In identifying and addressing the issues posed by trade policies as part of achieving the research objective, a qualitative mode of inquiry with a case study approach was employed. Semi-structured In-depth interviews were conducted with the managers of three formally registered SMEs fabric manufacturing firms in Lagos State, Nigeria. The findings were interpreted using thematic analysis. The findings indicate that the challenges faced by SMEs in the Nigerian textile industry are linked to the lack of supportive and measurable policy and regulatory frameworks to accompany the implementation of liberal policy in the country. These findings point to the fact that in order to revive and boost the productivity and competitiveness of SMEs in the Nigerian textile industry, and to reap the full benefits of international trade policy on liberalised markets, the government has to engage in restructuring the business environment through the implementation of effective and stable macroeconomic, trade-related infrastructural and institutional policies.
Authors and Affiliations
Toritseju Rita Pessu, Fredrick Agboma
Keywords
Related Articles
- EP ID EP564033
- DOI 10.6007/IJARBSS/v8-i6/4260
- Views 52
- Downloads 0
Stress as a Mediator of Work-Family Conflict and Turnover Intention in Selected Savings and Loans Companies in Ghana
This study examined occupational stress as a mediator of work-family conflict and turnover intention in selected Savings and Loans Companies (SLCs) in Ghana. Descriptive cross-sectional research design was adopted for th...
Prospects for Freight and Logistics Companies in Operationalization of the ECOWAS Protocol on Free Movement of Goods and Persons
Free movement of goods and people has been at the heart of ECOWAS regional integration process and past and current efforts at regional integration have often focused on removing barriers to free trade in the region to i...
Child Performers in the Entertainment Industry: An Analysis from the Employment Regulations Perspective
Children as performers have been exploited for their likability, their innocence and their ability to generate income. Child stars who enter the entertainment industry at a young age are often robbed off their normal chi...
Factors affecting Firm Performance of SMEs in Malaysia
The study purpose is to identify the impact of factors (entrepreneurial orientation, information acquisition, and information utilization) on firm performance of Small Medium Enterprises (SMEs), in Malaysia. A quantitati...
Muslim Political Figure: A Study on the Political Practices of Khalifah Umar Abdul Aziz
Khalifah Umar Abdul Aziz was well-known as a practitioner of Islamic-based politics. His political practices had succeeded in restoring the image of Muslim politics at the time. Considering that nowadays, Muslim politica...