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THE IMPACT OF ELECTRICITY ON THE GROWTH OF SMALL AND MEDIUM ENTERPRISES (SMES) IN NIGERIA
Abstract: The study undertakes an empirical research to analyze the effects of electricity on the growth of SMEs in Nigeria between 1990 and 2013. Ordinary Least Square (OLS) multiple regression method was adopted to examine these effects. Unit root test and co integration was carried out on the variables. The study found that erratic power supply or fluctuations in electricity supply led to decline in SMEs growth. There were poor execution of the independent power projects (IPP) by Government and increased generator usage by the SMEs. Electricity supply and electricity consumption were also found to be statistically insignificant at ensuring effective SMEs growth. Amongst the recommendations were that Government should increase investment in power infrastructures and improve on the implementation of power distribution privatization.
Keywords: Electricity Supply, Electricity Consumption, Power Investment, Small and Medium scale Enterprises Growth