Abstract: Nigeria has taken up several trade deregulation policies in recent years. Many organisations developed, while some retrogress under these policies and this has been a major concern for all the stake holders in Nigerian economy. In fact, in the short run, trade deregulation may be harmful to the economy, as many businesses suffer hardship and unhealthy competition from their foreign counterparts as a result of influx of foreign goods and services which render the locally made ones subject to low demands and profits. However, some economists argues that trade deregulation frequently better a lot of developed economies compare to developing economies. The research thus, investigated on impact of government foreign trade deregulation policy on Nigerian economy: A case study of Small and Medium Scale Businesses in Lagos State, Nigeria
The study used ex-post facto design of survey research type; sixty-five (65) small and medium scale business owners were drawn through two stage sampling procedure in Lagos State. Key Informant Interview Guide was used to gather information . The data obtained were analysed using descriptive statistics of percentage and frequency count.
The inference that can be drawn from the research is that foreign trade deregulation policy enhances economic growth. Conclusion can be made that when a government formulates policy that will cushion the effect of unhealthy rivalry from foreign trade deregulation it will promote substantial advancement in Small and Medium Scale Businesses. Therefore, government should formulate policies that will encourage the advancement of Small and Medium Scale Businesses.
Keywords: Deregulation, Economic growth, Trade, Policy formulation, Business.
Title: IMPACT OF CHANGE IN FOREIGN TRADE POLICY TOWARD DEREGULATION OF NIGERIAN ECONOMY: A CASE STUDY OF SMALL AND MEDIUM SCALE BUSINESSES IN LAGOS STATE
Author: EMMANUEL SEYI DARE
International Journal of Social Science and Humanities Research
ISSN 2348-3156 (Print), ISSN 2348-3164 (online)
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