Browsing by Author "Akande, A. A."
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Item Can Tradermoni Scheme Incentives Stimulate Small Business Sector? Empirical Approach of Oja-Oba ‘T’ Dada Market Beneficiaries(Management, 2021-01) Adamolekun, Wole; Obadeyi, J. A; Ogbeide, S. O.; Akande, A. A.This study examined the extent of contribution of tradermoni scheme incentives to invigorate small business sector, with empirical approach of Oja-Oba ‘T’ Dada market beneficiaries. Government introduced an empowerment scheme only for petty and small traders to mitigate poverty and improve small businesses. The area of study was Oja-Oba ‘T’ Dada Market, Ota (otherwise known as Oja-Ota) in Ogun State, Nigeria. A survey research was conducted. The population consisted of petty and small traders who have benefited from tradermoni scheme and were purposively selected. Primary source of data was adopted via a structured questionnaire and interview. Fifty (50) questionnaires were administered to the respondents, and forty-five (45) copies were correctly filled and returned on schedule giving a 90% response rate. The respondents consisted of petty and small businesses owners. The data was analysed by descriptive and inference statistical (Analysis of Variance) techniques. The formulated hypothesis was further tested using t-test via the assistance of Statistical Package for Social Sciences version 21.0. Findings revealed that tradermoni scheme incentives invigorated the beneficiaries businesses at a very slow pace and might take an average of 12 days for small business to realize any benefit(s). The result 2.86 (p<0.05) was statistically significant. The study concluded that empowerment scheme was timely, but on the field, thousands of traders have not benefited as claimed arguably due to ineffective and inefficient channels of communication adopted by government agencies in charge of the scheme. Also the loan amount allocated for the initial phase was too small considering the effect of inflation on the naira. We recommended that government ministries, departments and agencies in charge of the scheme should provide financial report on the amount spent so far, numbers of beneficiaries per state, adopt communication channels targeted to low-income earners, and review policy framework to strengthen the scheme in order to meet its primary objectives now and in the nearest future.Item Microfinance Institution (MFIs) and Survival of Micro and Small Enterprises (MSEs): Empirical Evidence of TraderMoni Scheme Beneficiaries in South-Western Nigeria(Advances in Social Sciences Research Journal, 2021-03-25) Adamolekun, Wole; Obadeyi, J. A.; Ogbeide, Sunday Oseiweh; Akande, A. A.Deregulation in Microfinance Institution (MFIs) in accordance with regulatory policy architecture since 2005 has not fully stimulated sustainability towards the informal system due to the inability of MFIs to access funds and government to judiciously administer credits to beneficiaries of various schemes; this has led to the partial collapse of some schemes in Nigeria; despite Government good intentions of creating employment and alleviating poverty. In view of this, this study assessed Microfinance Institution (MFIs) and Survival of Micro and Small Enterprises (MSEs): Empirical evidence of tradermoni scheme beneficiaries in South-Western Nigeria. The study adopted Tedeschi model (2006) that examined incentives available for borrowers to repay loans. Furthermore, reference was made to Markov Chain model to investigate the response of individual borrower as an applicant and beneficiary of tradermoni scheme in the context of this study. Eighteen MFIs were sampled from 2009 – 2020. Panel data was adopted for the study. The result showed mixed influences of MFIs on survival of MSEs. We are hopeful that findings of this paper would help to fill the existing gap on the influence of MFIs on the survival of MSEs.