Thirteenth Global Studies Conference

Abstract

The significance of small, micro, and medium enterprises (SMEs) development cannot be overemphasized because it plays a considerable role in a nation’s economy particularly in developing countries. SMEs’ contributions include job creation, expanding the means of sustainable livelihoods, and ensuring impartial distribution of wealth amongst citizens.This paper evaluates Small Medium Enterprises Development Agency (SMEDAN) programmes and policy with regards to developing and transforming the informal sector of the economy. The purpose of the establishment of SMEDAN is to facilitate the promotion and development of a structured and effective SME sector that will provide informal employment for unemployed, and enhance sustainable livelihood and economic development in Nigeria. Unemployment and increased poverty levels are key challenges to the government of Nigeria, which has resulted in socio-economic and political unrest across the nation. Against the background of high unemployment rate, especially amongst the youth and the deteriorating fortunes of small and medium businesses in Nigeria, questions can be asked in relation to current initiatives and policies to support SME sector. The core dimensions of the investigation include a review of SMEDAN’s roles and relevance in transforming the SME sector of the nation’s economy, policy framework, programmes and projects that facilitate SMEs development, institutional effectiveness and the extent to which the guiding policy is implemented as intended from a monitoring and evaluation point of view and the impact of policy in transforming the informal sector. In order to complete its core purposes, this paper collected primary data while depending extensively on available secondary data,