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Small businesses (MSMEs) represent about 90% of businesses
worldwide. They account for 96% of businesses and in Nigeria, they account for
84% of the country’s employment.

The global economy was greatly affected by the COVID-19
pandemic, and from the above data, it is clear that small businesses must drive
the global economy to recovery.

Oil prices in the global market crashed to about $30 per
barrel in Q1 of 2020 and about 90% of Nigeria’s export is Crude Oil. This decrease
in demand for Oil in the global market has greatly affected the Nigerian
economy as seen in the negative plunge of the GDP in Q2 of 2020.

The government in response has setup various intervention
plans to support small businesses in cushioning the overall effect of the downturn
on the economy and give room for diversification. This Report seeks to examine
the effects of these proposed interventions. 

Read the full report here