International Conference on Empowering Islamic

Running Head: IMPACT OF UNCONVENTIONAL FINANCING ON NIGERIAN SMEs
IMPACT OF UNCONVENTIONAL FINANCING ON NIGERIAN SMEs
Name of the Student
Name of the University
Author Note

1IMPACT OF UNCONVENTIONAL FINANCING ON NIGERIAN SMEs
Annotated Bibliography
Article 1:
Abdullahi, A. I., & Suleiman, M. S. (2015, June). Impact of religion on entrepreneurial
intention of university students in Kano state, Nigeria. In Proceedings of
ICIC2015–International Conference on Empowering Islamic Civilization in the
21st Century, e.
This article looks into the aspect of ‘Religion’ 3on the different forms of
entrepreneurial ideas and objectives. This article looks into the various aspects pertaining to
the importance of the process of entrepreneurship in the process of economic growth as well
as development. It focusses on the Theory of Max Weber as its foundation. Major source of
data was of the primary type that comprises of questionnaires. There were 450 samples of
questionnaires, sent to the students of the Bayero University Kano and Northwest University
Kano. However, only 380 feedback samples were received out of the above 450. There is an
application of the comprehensive model of Structural Equation Modelling (SEM) to study the
data and analyze them through AMOS 21. The analysis further shows that ‘Religion’ not only
creates a strong but also a positive impact on the intentions of innovation and business
development. The study brings out the fact that the majority of the population living in the
part of Kano, Nigeria, practice Islam as their religion. It characterizes the attributes of
perseverance, concentration, faithfulness and foresight besides others as the prime teachings
of Islam, which resonates with the characteristics of an entrepreneur. In most of the regions in
Nigeria, support for the entrepreneurship or innovation practices is provided by the small and
medium enterprises (SMEs), supported by the government initiatives.
Article 2:

2IMPACT OF UNCONVENTIONAL FINANCING ON NIGERIAN SMEs
Alfred, S., & Xiao, W. (2013). Financing Family Business in Ghana, Challenges and the
way forward. International Journal of Advanced Research in Management and
Social Sciences, 2(2), 177-204.
The study focusses on the financing options in Ghana and the significance of the roles
played by the family businesses, which mostly fall under the criteria of small and medium
scale enterprises (SMEs) as well as the micro, small and medium scale enterprises (MSMEs)
in the businesses run in Ghana. The paper looks at the situation of economic development and
flow of funds into the businesses like the SMEs and MSMEs. The problem of inadequate
financing, high interest rates that are charged by the established traditional banks while
applying for loans besides increased cost of financing, associated with the policies and risk
covers, by the banks makes it difficult for the businesses to run with ease. There is a lack of
equity financing opportunity in Ghana. Equity financing provides a long-term benefit to the
family firms; however, they are virtually non-existent in Ghana. Commercial ventures like U.
S. Agency for International Development (USAID) and the Commonwealth Development
Corporation (CDS) have initiated the formation of a venture that attempts to bridge the gap
between the long-term and short-term loan facilities. The paper also makes a significant
assessment on the availability of the various financial products, specifically meant for the
development of the SMEs and MSMEs. In addition to these, the government has also
undertaken initiatives to support the development of MSMEs and SMEs in Ghana, through
the formation of the National Board for Small-Scale Industries (NBSSI).
Article 3:
Antwi, S. K., Inusah, A. M., & Hamza, K. (2015). The effect of demographic
characteristics of small and medium entrepreneurs on tax compliance in the

3IMPACT OF UNCONVENTIONAL FINANCING ON NIGERIAN SMEs
tamale metropolis, Ghana. International Journal of Economics, Commerce and
Management, 3(3), 1-20.
This paper tries to delve into the effects of the various demographic characteristics of
small and medium scale enterprises in the domain of Tax Compliance in the metropolis of
Tamale in Ghana. The developing countries increasingly depend on the SMEs as the source
of growth. However, their popularity has been curbed down by the absence of any firm policy
to regulate and monitor its activities. The various demographic characteristics like age,
gender, marital status, educational level of the entrepreneur and the type of venture
determines the growth of SMEs in these regions of Nigeria. Tax Compliance is a major issue
in this criterion for the growth of SMEs. There exists a type of stratification in the SMEs,
present in the various Metropolis. It is also based on other factors that has been collected
from primary field data, and analyzed using Statistical Package for the Social Sciences
(SPSS). Tamale is a small region in one of the 216 sub-national government areas (districts)
in Ghana. The study was conducted upon 80 entrepreneurs, with 57.5% males and 42.5%
females. However, only a percentage of 47.5 of these people ever paid income tax while the
others never paid their share of the income tax.
Article 4:
Arinaitwe, A., & Mwesigwa, R. (2015). Improving Credit Accessibility among SME’s in
Uganda. Global Journal of Commerce and.
This article focusses on the aspect o\f improving credit accessibility among the small
and medium scale enterprises in Uganda. Uganda, located in Nigeria is a region that lacks
basic amenities for the people. A large chunk of the economy is below the global poverty
line. The article conducts a research, which is both qualitative and quantitative in nature. A
process of simple random sampling was used to study the data pool, comprising of the

4IMPACT OF UNCONVENTIONAL FINANCING ON NIGERIAN SMEs
information and behavioral patterns of 92 SMEs. The process of data collection was through
questionnaires with a response rate of 78.3 percent. However, SMEs are boosting the
entrepreneurial value but they are posing a high risk as it lacks security, audited account
books and the financial institutions, regarding these SMEs as high borrowers of risk. A lack
of national agency to administer the functioning of small businesses by providing them with
incentives to encourage their growth elaborates the problems. However, an existence of the
same can encourage and boost the existence and growth of a micro, small and medium –
scale enterprises (MSME) and small and medium – scale enterprise (SME). Thus, financing
has been depicted to play a major role in the functioning of the working of these
organizations.
Article 5:
Arisi-Nwugballa, E. A., Elom, M. E., & Onyeizugbe, C. U. (2016). Evaluating the
relevance of entrepreneurial orientation to the performance of micro, small and
medium enterprises in Ebonyi State, Nigeria. International Journal of Academic
Research in Accounting, Finance and Management Sciences, 6(3), 221-230.
This particular article seeks to evaluate the relevance of the various dimensions of the
orientation of the entrepreneurs of the Ebonyi State of Nigeria with regard to the
performances of the micro and small medium enterprises. The survey method was followed
for conducting the research and the response rate was just 61.5 %, and the collected data was
analyzed by the usage of Pearson Product Management Correlation. The research article has
tended to indicate that despite the risks associated with the micro, small and medium
enterprises, in the Ebonyi State of Nigeria they have shown to have positive prospects which
can be categorized into three heads
- innovativeness of the mode of conducting business activities,

5IMPACT OF UNCONVENTIONAL FINANCING ON NIGERIAN SMEs
- proactiveness of the entrepreneurial activities to reach out to the needs of the masses
effectively and with immediate effect, and
- the competitive aggressiveness amongst the various firms which is in turn
showcasing itself as the benefit of the people.
The research article has also tended to indicate at the fact that the three factors which
have led to the enhancement of the service delivery of the micro, small and medium
enterprises, in the Ebonyi State of Nigeria and the attitude of risk taking and also of taking
autonomous actions did not have any negative effect in the service delivery.
Article 6:
Awiagah, R., Kang, J., & Lim, J. I. (2016). Factors affecting e-commerce adoption
among SMEs in Ghana. Information Development, 32(4), 815-836.
This particular research paper tends to show that the conception of business activities
have experienced a gradual shift in Ghana from the generic mode to a more modernized
approach which makes the best use of the internet enabled services leading to the
proliferation of the electronic commerce. The erstwhile approach of business being simply a
matter of transaction involving goods and services has been replaced by increasing
interdependence of the national economies that is causing Ghana to open up to the global
economies, the international market and attune itself with the phenomenon of globalization.
The leading champions in this paradigmatic shift in the conducting of the business activities
are the micro, small and medium enterprises. The micro, small and medium enterprises are
associated with high level of risks which however has not been the case in Ghana owing to
the fact the entrepreneurial activities have been a result of the integration of the of the
technological advancement; building of a vibrant and highly skilful organizational cultures
that is ready to meet the challenges of the modern world; and a sophisticated and efficient

6IMPACT OF UNCONVENTIONAL FINANCING ON NIGERIAN SMEs
decisions making which takes into account the various environmental prospects that make an
assessment of the risk and opportunities before indulging in any form of business dealing.
Thus the risk factor is evaded extremely efficiently by the micro, small and medium
enterprises which leads to its success.
Article 7:
Awino, Z. B. (2013). Strategic planning and competitive advantage of ICT small and
medium enterprises in Kenya. Business and Management Horizons, 1(1), 191-204.
This particular research article tends to focus more on the aspect of the risks
associated with the micro, small and medium enterprises despite the advantages associated
with it in terms of enriching the national economy of Kenya and also suggest some methods
by which the enterprises can improve. The only reason why the micro, small and medium
enterprises have had competitive advantage is owing to the fact that they employ the latest
technological developments in the business process and they also tend to open up to the
global market scenario and integrate with it. This research article tends to indicate that
despite the competitive advantages there are certain disadvantages which the micro, small
and medium enterprises faces which have been found out by means of conducting a
quantitative research following the survey method. The disadvantages or the risks associated
with the business ventures of the micro, small and medium enterprises are very much similar
to that of the big enterprises and thus they are very much vulnerable to the market ups and
downs and the micro, small and medium enterprises are in fact more vulnerable. However the
micro, small and medium enterprises employ innovative business practices which reduced the
share of risks for them and they are also reportedly being successful in their business
ventures.
Article 8:

7IMPACT OF UNCONVENTIONAL FINANCING ON NIGERIAN SMEs
Awuah, S. B., & Addaney, M. (2016). The interactions between microfinance
institutions and small and medium scale enterprises in the Sunyani municipality
of Ghana. Asian Development Policy Review, 4(2), 51-64.
This particular research article focuses on the contributions of the micro, small and
medium enterprises as well as discusses the disadvantages of them with specific reference to
the negative effects it have had on the lives of the women thereby imbibing a gendered
analysis in to the analysis and the research. With regard to the positive roles played by the
micro, small and medium enterprises of the Sunyani municipality of Ghana, it has been
observed that the rate of employment has increased and the proliferation of the private sector
has led to being a vital source of support for the national economy to be boosted up. Thus the
presence of the micro, small and medium enterprises in the nation has led to an enhancement
in the social, economic and the cultural scenario of the nation which shows that the micro,
small and medium enterprises have been beneficial for the nation. however on the flip side,
the women have been severely affected by the micro, small and medium enterprises as they
have tended to deprive them of the economic prospects through cottage industries that they
used to run on cooperative basis. Moreover the micro, small and medium enterprises also
denied them the credit when they approached as they felt that the women shall be unable to
repay the loans.
Article 9:
Ayoade, E. O., & Agwu, E. (2016). Employment generation through entrepreneurial
development: The Nigerian experience. British Journal of Economics,
Management & Trade, 11(3), 1-14.
This particular research article tends to focus on the aspect of countering emigration
of people from Africa to Europe and the role of the micro, small and medium enterprises

8IMPACT OF UNCONVENTIONAL FINANCING ON NIGERIAN SMEs
have been quite substantial. Through the proliferation of the micro, small and medium
enterprises in Nigeria the rate of employment has increased in the nation and the rate of
migration to Europe has also decreased to a great extent. As a result of migration to Europe,
Africa in general and Nigeria specifically had witnessed a huge number of people
undertaking a lot of risk by means of indulgence in unethical method crossing the
Mediterranean and eventually many people losing their lives in the process. Apart from that
the loss of bright scholars had also been a serious issue which led to the continent losing out
on the man power. Thus through the micro, small and medium enterprises the rate of
employment had actually led to a decrease in the rate of emigration to Europe and had
actually led to a check in the rate of brain drain from the nation. By means of checking the
brain drain from Africa, the continent has thus through the functioning of the micro, small
and medium enterprises the prospects of development has been enriched which has in turn
helped in the development of the continent.
Article 10:
Bagh, T., Arif, M., Liaqat, I., & Razzaq, S. (2017). Impact of Financial Constraints on
Growth and Development of Small and Medium Enterprises in Sialkot Pakistan.
International Journal of Financial Markets, 2 (4), 131, 145.
This particular research article had focused on the problems faced by the micro, small
and medium enterprises of Sialkot region of Pakistan. This particular study had been carried
out in order to explain the various underlying negative impact of financial constraints on the
growth and the development of the micro, small and medium enterprises in the Sialkot region
of Pakistan. This research provides the explanation about the various problems that the micro,
small and medium enterprises are facing in Sialkot are the faced problems are related to the
access to the financial markets of the world and also of the assessment of Small and Medium

9IMPACT OF UNCONVENTIONAL FINANCING ON NIGERIAN SMEs
Enterprises in Pakistan. This particular study is of extreme importance as the Small and
medium enterprise are considered to be one of the most important pillars for the development
and growth of almost all the economics of the world, however in Pakistan they are facing
problems in proliferating. This research article tends to indicate that despite the competitive
advantages there are certain disadvantages which the micro, small and medium enterprises
faces. The disadvantages or the risks associated with the business ventures of the micro, small
and medium enterprises are very much similar to that of the big enterprises and thus they are
very much vulnerable to the market ups and downs and the micro, small and medium
enterprises are in fact more vulnerable.
Article 11:
Bagshaw, K. B. (2014). Power supply infrastructure and government policy
inconsistency on the performance of small and medium scale manufacturing
firms in Nigeria: An empirical assessment. American International Journal of
Contemporary Scientific Research, 1(2), 140-148.
The article focuses on the infrastructural facilities for power supply and
inconsistencies of the government policies. The specific focus is on the performances of the
SME of Nigeria. The Lagos state of the country, which also has the capital city Lagos of
Nigeria, was considered as the setting for the firms that were studied. A sample size of 148
firms were taken to study the impact of the power supply infrastructure’s impact on the
performances of the SME’s of the country. Questionnaires were distributed among the
employees of the organizations. The findings of the study revealed that the power supply
infrastructure of the country had significant impact on the performances of the small and
medium firms of the country. However, at the same time it was found that the government
inconsistencies did not affect the organizations much in the country. Thus, it was pointed out

10IMPACT OF UNCONVENTIONAL FINANCING ON NIGERIAN SMEs
there is the requirement for providing specific areas for the firms of the country in order to
generate independent power to support these small and medium firms. The recommendations
that were made included the suggestion for the creation of public-private partnerships;
development of the special industrial catchment areas and development of specific
government policies towards supporting the efforts.
Article 12:
Becherer, R. C., & Helms, M. M. (2016). The role of entrepreneurial marketing in
improving market share for small businesses facing external environmental or
resource challenges. Journal of Business and Entrepreneurship, 27(2), 119-147.
The study focuses on the problems of conventional marketing practices that can occur
for the small and medium ventures of the corporate industries. Concerning the same, the
focus is towards understanding the prospects of entrepreneurial marketing as a means to
enhance the market potential for the various SMEs. The findings have pointed towards the
importance of entrepreneurial marketing in cases of small business that face significant
external challenges while operating their businesses. However, the same was not found to be
of much importance towards the SMEs that do not get affected by the external environment.
It was also found that the technique of marketing was used more by the enterprises that had
more resources available with them. Hence, this type of marketing was found to be difficult
in case any organization is facing internal resource challenges. The application of this form of
marketing was found to have positive impact on the firm performances. Marketing is thus a
very important aspect for all entrepreneurs as righty pointed through this article. At the same
time, questions in regards to the proper implementation of effective marketing by
organizations that lack resources have been asked in the article. The entrepreneurial
marketing standards have been much effectively put forward in the article.

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Article 13:
Bellinger, A., & Fletcher, B. (2014). Non-traditional financing for education. EPS-
PEAKS, DFID.
The study is focused towards analyzing the performance prospects of the small and
medium scale enterprises that work especially in the education sector. The foucus is on the
declining nature of education oriented financial aids. Hence, the prospects of non-traditional
ways to funding education-oriented enterprises have been considered. The effective spending
of resources is considered while assessing the value of funding that is required. Generating
public funds have been considered much as part of the non-traditional financing methods.
Among the other sources of non-traditional financing that have been considered in the study
are business foundations and CSR, private domestic funding, citizen contributions and the
non-development assistance committee. The implications have pointed towards some of the
key emerging issues. These are communication and private sector roles, evidence and
learning, involvement and ownership of developing countries, clarity of the investment
opportunities in education and delivering outcomes to the ones that need it. The way forward
through the implementation of these aspects was found to be obscure. Hence, there was found
to be a need for all the non-tradtional financial spurces to improve their benefit in terms of
innovation and improved performances in the education sector. Some financing mechanisms
that were considered were payment for program, government funded but privately operated
education enterprises.
Arcticle 14:
Boateng, G. O., Boateng, A. A., & Bampoe, H. S. (2014). Barriers to youthful
entrepreneurship in rural areas of Ghana. Global journal of business research,
8(3), 109-119.

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The article considers the youth entrepreneurship in especially the rural areas of
Ghana. The various challenges that are faced by the entrepreneurs of SMEs in the rural areas
of Ghana have been identified. The study took the help of primary and secondary data to
gather essential implications about the opinion of the target populations in the various regions
of the country like Komenda, Edina and Abriem municipal assembly. The study points
towards the several challenges that the Ghana youth find to be present in the way of starting
their own businesses. Some of the significant issue that was found to be the lack of education,
lack of capital, lack of effective support and lack of beneficial government policies. The
study emphasizes on the need for more non-traditional funding that are required. The study
points to the fact that there is a need for better support being provided to the youths of Ghana
in order to provide them with better entrepreneurial intentions. The responses were gathered
from more than 240 respondents. These points to the fact that the youth in Ghana require
better financial support from the various organizations. The findings suggest that the
government of the country would need to take on more roles towards empowering the
Ghanian youth towards entrepreneurship.
Article 15:
Boso, N., Danso, A., Leonidou, C., Uddin, M., Adeola, O., & Hultman, M. (2017). Does
financial resource slack drive sustainability expenditure in developing economy
small and medium-sized enterprises?. Journal of Business Research, 80, 247-256.
The article is focused towards the understanding of the spending that companies need
to make in favor of the sustainability functions of the various enterprises. It was found that
enterprises often lack the financial resources that are required to create better sustainability
drives. The small and medium sized enterprises from Nigeria were focused while
understanding the resources that are necessary to tackle the slack financial resources that are

13IMPACT OF UNCONVENTIONAL FINANCING ON NIGERIAN SMEs
used towards funding sustainability drives. The developing economy of Nigeria were found
to be an important reason for the decrease in sustainability expenditures by the firms.
Political connected was found to be effective in weakening the financial resource slack. It
was found that the constant spending of the finances on management that was conservative
has created a gap in the spending on the sustainability activities. It was found that the non-
traditional finances should come from the government’s end in order to improve the
conditions of the Nigerian businesses. This could in the future be beneficial for the country’s
economy as more businesses would be sustainable. The study points towards the benefits that
can be achieved for both the organizations and the country. Sustainability spending is a
significant issue in the corporate sectors of developing countries.
Article 16:
Durowoju, S. T. (2014). Roles of Entrepreneurship in small and medium enterprises
development in Nigeria. Review of Public Administration and Management,
400(3614), 1-11.
The articles focuses on the entrepreneurship process that is concerned with the
creation of essential value through the devotion of time and effort. The study is important as
it focusses on the risk factors that tend to affect SME entrepreneurships in Nigeria.
Entrepreneurship concerning all the important factors that are discussed is considered as
gaining essential rewards in form of finances and personal independence and satisfactions.
Much importantly the study finds the issues that mostly affect the development of
entrepreneurships in Nigeria. One of the most important findings that have been developed
point towards the lack of interest of the Nigerian youth towards getting into
entrepreneurships. The youth is more focused towards getting the white-collar jobs that can
ensure their financial safety. Youths were found to be more inclined toward financial security

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as they do not perceive that there could be a secure future in the entrepreneurship sector of
the country. Small and the medium businesses of the country were found to be lacking
support of the government. The monitory policy of the government was found to be
ineffective. Hence, more focus was recommended towards the government funding of the
SMEs. The study brings forward that entrepreneurship is important for the development of
the economy of any developing nation.
Article 17:
Dzisi, S., & Ofosu, D. (2014). Marketing strategies and the performance of SMEs in
Ghana. Marketing, 6(5), 102-111.
The article focuses on the marketing strategies and their importance in determining
the performances of the firms that are based in Ghana. The study is effective as it relies on
qualitative data that are collected from 363 SMEs with a total population sample of 900
people. The study has focused extensively on the importance of developing effective
marketing strategies especially for the SMEs of Ghana. The findings suggest that most of the
SMEs in Ghana use the traditional marketing methods to promote their products and services.
On the other hand, few enterprises were found to utilize modern technological advancements
for the creation of their marketing strategies. Thus, the findings concluded that the companies
should be using more technologically advanced methods to improve their marketing
standards. The implications are important as it finds an important gap between the traditional
marketing methods that are utilized by the various organizations and the value that can be
derived from the marketing functions of various enterprises. The study emphasizes greatly on
the need for developing better funding techniques for the marketing functions. The study
points to the gap that exists between the traditional marketing and effective new age

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marketing. The study proposes that at times the marketing functions need to be supported by
the government for improving the condition of the economy.
Article 18:
Efayena, O. (2014). Financial intermediaries and economic growth: The Nigerian
evidence. Acta Universitatis Danubius. Œconomica, 10(3), 125-135.
The article focuses on the roles of the financial intermediaries of Nigeria in
determining the economic growth of the country. The specific focus of the study is towards
finding the impact of intermediary financing on the various SMEs that are located in Nigeria.
The study is important as it utilizes the Harrod-Domar growth model to evaluate the
economic growth value of the country in relation to the mobilization rate for the society’s
domestic savings. Hence, this is an important work in terms of analyzing the prospects of the
unconventional financing methods that can be utilized towards creating better values for the
SMEs. Secondary data was used by the study to determine the value of the investments that
were made towards the SMEs between the period of 1981 and 2011. The study much
effectively points toward the roles of the banks in determining the financial value of the
SMEs required for their growth. At the same time the study very effectively points towards
the high positive correlation that are present between the intermediaries of finance and
economic growth for Nigeria. According to the study, there is a need for the Nigerian banks
to lend more to the SMEs of the country.
Article 19:
Elmagrhi, M. H., Ntim, C. G., Crossley, R. M., Malagila, J. K., Fosu, S., & Vu, T. V.
(2017). Corporate governance and dividend pay-out policy in UK listed SMEs:
The effects of corporate board characteristics. International Journal of
Accounting & Information Management, 25(4), 459-483.

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The study essentially evaluates the corporate governance policies of the SMEs that are
listed in the UK. The article is important as it measures the value of the corporate board
influencers toward the level of dividend ratio that is paid out. The study utilizes the
multivariate regression techniques to derive essential implications. The study is important as
it finds some of the most important internal factors that affect the SMEs dividend payout
capabilities. The study very importantly finds that the board member performances are very
vital towards the outcomes that can be derived in the form of dividend payout. Some of the
most important findings that are generated from the study in this regards are, the importance
of the board size, the frequency of board meetings, gender diversity within the board, and the
size of the audit committee in determining the value of dividend payout. The most important
factors among these were found to be audit committee and the size of the board. These had
significant positive impact on the dividend payout. It was found at the same time that the
gender diversity and frequency of board meetings had negative impact on the dividend
payout. The study much importantly pointed out the internal values associated with the
finances of SMEs.
Article 20:
Eneji, M. A., Mai-Lafia, D., & Weiping, S. (2013). Socio-economic impact of graduate
unemployment on Nigeria and the vision 20: 2020.
The study points toward the relationships that exist between the social policy,
economic development, education and the unemployment levels in the country of Nigeria.
The study is important as it is a large scale analysis of the various factors that affect the
employability prospects of Nigeria for the youths as well as the roles that are played by the
SMEs in the Nigerian economy considering the same. At the same time the study focuses on

17IMPACT OF UNCONVENTIONAL FINANCING ON NIGERIAN SMEs
assessing the Nigeria vision 20:2020. The study has extensively used graphs, tables and
charts to determine better values for the implications generated. The findings suggest that
there is significant imbalance between the rural and urban development of Nigeria. The most
important work from the end of the government also need to be done to bridge the rich-poor
gaps that are still present greatly in the country. Some of the most important
recommendations that were made to solve the identified problems were development of
entrepreneurship, infrastructure development in both rural and urban areas, stabilizing
politics, increasing the security, essential education and developed health systems. There is a
very important need that was pointed out in the study concerning the development of better
international relationships to bring in more international funding for the development of the
SMEs and the youth. There is an essential need to improve the regional economies through
newer methods to fund the SMEs that are present in these areas.
Article 21:
Erastus, Y. E., Stephen, A., & Abdullai, I. (2014). Institutional framework for
promoting small and medium scale enterprises in Ghana: Perspective of
entrepreneurs. Australian Journal of Business and Management Research, 3(10),
28-45.
This paper looks at the functioning of small and medium – scale enterprises and
promoting the same in the areas of Ghana with the coordination of the government
organizations. However, after a close analysis on the sample of 157 SMEs that exist in the
developing regions of Nigeria, specifically Ghana, it attempts to look at the structure of the
formal institutions that fail to survive as the policies put forth by the government lack
coordination. The strategies to support these programs by incentivizing the promotion of

18IMPACT OF UNCONVENTIONAL FINANCING ON NIGERIAN SMEs
SMEs lead to the failure of these SMEs. It is because of the above situation, the SMEs cannot
perform according to the expectations of the people. Post liberalization period, the situation
of trade has changed, as it requires adaptation with the growing changes in the market. In
such situations, promotion of SMEs are essential as compared to the large-scale enterprises as
the small and medium – scale enterprises have the capacity to adapt. The survival of the
SMEs depend on the perspective of the institutional theory, based on the production,
distribution and perceptions. The data was collected through the method of questionnaires
that were close-ended, reflecting 47% of people who owned such businesses were aged 40 –
50 years.
Article 22:
Hommes, M., Khan, A., Gerber, C., Kipnis, H., & Hamm, K. (2014). Out of the shadows
and into the banks: financing very small and informal enterprises. Enterprise
Development and Microfinance, 25(3), 211-225.
This paper looks at the financial access of the situations of small and very small –
scale enterprises (SMEs and VSEs) besides the micro and medium – scale enterprises
(MSMEs). The idea to support and promote these sources of financial for a developing
economy like Nigeria is to increase the financial inclusion of the underserved enterprises.
This paper discusses the unconventional models of banking that presently aim to target the
VSEs by analyzing the noteworthy businesses to help them thrive and excel in the market to
serve the informal sector of the informal market. This is achieved by highlighting the
innovative approaches that the banks adopt with regard to the segmentations, strategy
building, development of the products and services, risk management and distribution
channels. Besides this, the paper also makes note of the various set of recommendations at
the level of policy making to facilitate the financial inclusion in the sector of informal

19IMPACT OF UNCONVENTIONAL FINANCING ON NIGERIAN SMEs
enterprises. The data used in this study is sourced from the projects of International Finance
Corporation (IFC) and the data sources or information that are publicly available. The study
makes a significant analysis on the inadequate and seasonal cash flows that fail these
enterprises and companies to maintain a proper business record or have a stable business
cycle.
Article 23:
Idris, A., Edwards, H., & McDonald, S. (2017). E-Commerce Readiness of SMEs in
Developing Countires: A Model-Driven Systematic Literature Review.
This paper looks to study the readiness of these Small and Medium – scale enterprises
in the age of advancement, which can also be termed as the ‘era of e-commerce’. This was
studied and analyzed with the aid of a Model-Driven Systematic Literature Review (MD-
SLR). The paper comprises of the relevant theories of e-commerce adoption and e-readiness
that are studied and assessed in the above model. It also gathers data from the various sources
of relevant empirical studies that are identified to refiner the original model, on the basis of
facts and evidence. The e-commerce adoption plays an important role in the creation of
opportunities, both in terms of business and employment. This approach also helps the SMEs
to reach out to a lot of people and in the global business environment. This aids the Company
to boost its work efficiency in the future, adapt to the changes through awareness, and
achieve a faster consumer base. It relates to the different stages of the database and control
mechanisms developed across the various stages. The study uses references and information
from significant literature sources like journal articles and books to study the efficiency in the
adoption of various e-commerce models to achieve an optimum productivity for the SMEs.
Article 24:

20IMPACT OF UNCONVENTIONAL FINANCING ON NIGERIAN SMEs
Iyagba, R., & Mafimidiwo, B. (2016). Comparative study of problems facing small
building contractors in Nigeria and South Africa. Journal of Emerging Trends in
Economics and Management Sciences, 7(2), 101-109.
This study emphasizes to study a trend in the discipline of Economics and
Management in Nigeria. It looks at the comparative study of the problems that is faced by the
small building contractors, located in the region of Nigeria. This paper presents the argument
to enable the sustenance of industries in Nigeria from the construction workers. It also
presents the small and medium – scale enterprises (SMEs) as a significant player in the
process of development. In the developing nations like Nigeria, SMEs are considered as the
‘engine of the economy’. The study presents the characteristics of the organizations that have
responded and depict an annual turnover of 69 percent. The study highlights the various
challenges faced by the construction companies and the financial barriers that pose a severe
risk to these companies. Delayed payments by clients and problems associated with the lack
of access in getting funding besides poor labor relations, injuries on the job and limited
market size are issues that challenge the sustenance of SMEs and MSMEs in these regions.
Further, an encouragement of these funding organizations is required to vent into the areas of
loopholes that rise as a flaw of the funding system. This requires protection of these funding
organizations by government involvement and enforcement of stern laws.
Article 25:
Karray, S. C., & eddine Chichti, J. (2013). Bank size and efficiency in developing
countries: intermediation approach versus value added approach and impact of
non-traditional activities. Asian Economic and Financial Review, 3(5), 593.
In the present study, an emphasis is made on studying the bank size as well as the
efficiency of these organizations in the developing countries. An approach of intermediation

21IMPACT OF UNCONVENTIONAL FINANCING ON NIGERIAN SMEs
associated with a value added methodology is studies in relation to the effect of activities of
non-traditional form. The study elucidated on this aspect by making use of 402 commercial
banking organizations that are located in 15 developing nations during the period of 2000 –
2003. It attempts to assess the effect of bank size on the aspect of technical efficiency. The
study uses the method of data envelopment approach (DEA) in the context of banking
activities and their non-traditional methods. It brings to notice that the data produces a
significant conclusion, stating that the examined banks are posed with serious technical issues
that hinder their activities and producing a waste of their resources that raises by a level of 46
percent of its actual level. The technical efficiency is majorly of two types — pure technical
and scale efficiencies. Further, this study proves that the choice of intermediation or a value
added approach to measure the activities in the banking sector is majorly influenced by the
bank size. However, the estimates of the scale of efficiency appear to be less sensitive as
compared to the pure technical issues in the banking sector.
Article 26:
Mbaegbu, D. (2016). An industrialization strategy for economic diversification and
sustainable development of Nigeria. International Journal of Advanced Studies in
Business Strategies and Management, 4(2), 25-38.
This article looks into the aspects of strategies for industrialization in the fields of
economic diversification as well as sustainable development in Nigeria. The paper aims to
examine the role of manufacturing industry in the achieving a form of diversification in the
economy of Nigeria. The economy of Nigeria has been immensely dependent on the export
of crude oil against the large – scale import of manufactured goods. This is evident from the
trade line of most of the developed nations who produce manufactured goods at a high price,
employing low – cost labor or a labor – intensive technique of production. The situation of

22IMPACT OF UNCONVENTIONAL FINANCING ON NIGERIAN SMEs
developing an economically diverse line of production helps the economy to be more reliable
and independent. It aims to produce a multiple or a wide range of goods instead of a single
line of production or an integrated production system as this will boost the economy’s
robustness and help it to achieve a sustainable growth with much ease. There is a direct
relationship between of the economy’s dependent variable Gross Domestic Product (G. D. P.)
and independent variables like exchange rate, manufacturing output, commercial bank loans
to SMEs and the average capacity utilization, which are subjected to multiple regression
analysis.
Article 27:
Michael, O. (2014). Multiple taxation as a bane of business development in Nigeria.
Academic Journal of Interdisciplinary Studies, 3(1), 121.
This study examines the structure of taxation on the business sector in Nigeria. The
economy has a clear line of taxation system, which is unambiguous. However, every tier in
the administrative set up as the government, ministry, agencies and other departments,
engaged in the process of tax collection that does not abide by the line, set, or list of taxation.
This can be termed as a system of corruption. However, it fails to help investors in the line of
business when a taxation form in the category of introductory taxes adds a burden to the
businessperson who is trying to increase his or her revenue. As a result, this leads to a
situation where there needs to be an efficient policing and by mandating laws and arresting
people for unlawful practices. This will not only impose a fair system of administration and
help regain the faith of the people in the administrative system but also ensure a well-
developed system of taxation and encourage entrepreneurial activities. The taxation on crude
oil in Nigeria can earn as much as 80 percent of the total tax that is accruable. This form of

23IMPACT OF UNCONVENTIONAL FINANCING ON NIGERIAN SMEs
multiple taxation has a negative effect on the SMEs in Nigeria and remains as a major factor
that is responsible for the sudden deaths, in most of the situations.
Article 28:
Moruf, O. L. A. D. E. J. O. (2013). Evaluation of the Nigerian Microfinance banks
credit administration on small and medium scale enterprises operation.
International Review of Management and Buisness Research, 2, 505-517.
The article looks at the evaluation of the micro financing banks (MFBs) in the
Nigerian economy. It aims to look at the administration of the small and medium – scale
enterprises and the operations of these banks in availing them with credit opportunities. The
regulatory, supervisory and the micro finance policy framework that was released by the
Central Bank of Nigeria (CBN 2005) has enforced the managers, accountants and players
who are in the sector of microfinance in Nigeria, to gear on to a few requirements. This
includes maintaining a minimum base for capital, better position in terms of liquidity,
increased performance in profit as well as volume of deposits. The SMEs have benefitted
considerably from these new schemes launched by the MFBs. The article aims to look at the
various dimensions of credit demands, credit availability, and timeliness of credit to operation
as well as adequacy of the credit supply. However, most of the MFBs are in a position of
competition with the commercial banks rather than establishing the system of microfinance
banking, that they were established to take up. The study emphasizes in the facts that will be
helpful to the policy makers as well as the players in the sub sectors of micro financing in the
economy.
Article 29:
Niethammer, C. (2013). Women, entrepreneurship and the opportunity to promote
development and business. The 2013 Brookings Blum Roundtable Policy Briefs.

24IMPACT OF UNCONVENTIONAL FINANCING ON NIGERIAN SMEs
This study focusses on the women, entrepreneurship as well as the opportunity in
order to promote the business and development. Women represent a vast untapped source of
innovation in the sector of business. IT adds to further job creation and opportunities for other
women. The World Economic Forum (WEF) also fails to show a considerable progress in
reducing the economic gap in between the men and the women of the society. This study
aims to ‘demystify’ the hardships faced by the women in the access of finance. It also
highlights a few typical challenges in the realm of business that the women entrepreneurs
face when it comes to capacity building. In the regions of the developed nations, women
seemed to own a percentage of 31 to 38 when it came to formal SMEs in the emerging
markets. However, this representation needed and immediate boost in the regions of Nigeria
where development was even difficult for the women. The birth rates for the small and
medium – scale enterprises across the world is more when it comes to women owners. Even
in the BRIC countries, women outnumber men in the higher studies that affects the value of
an entrepreneur more, representing a pool of women talents in the business.
Article 30:
Odia, J. O., & Odia, A. A. (2013). Developing entrepreneurial skills and transforming
challenges into opportunities in Nigeria. Journal of Educational and Social
Research, 3(3), 289.
This study illustrates the development of entrepreneurial skills and transformation of
challenges so as to create opportunities for business developments and economic viability in
Nigeria. The paper tries to consider several skills of entrepreneurial development in providing
an economic base to the economy of Nigeria. The government is increasingly trying to focus
on various policies to boost funding and generate a capital base to allow the emergence of
similar opportunities in Nigeria. However, this requires training as well as educating the

25IMPACT OF UNCONVENTIONAL FINANCING ON NIGERIAN SMEs
youth to develop a key solution, in order to equip the graduates as well as the professionals to
transform opportunities into successful businesses. However, the government needs to
support these initiatives to sharpen to skills and knowledge of the youth to invest in ideas and
innovations that serve the best for the economy and generate sufficient revenues to fund the
growth of SMEs. It is not just the government bodies but also the corporate bodies who
should come together to help each other in the development of the upliftment of the SMEs.
This will evidently reduce the high unemployment rate and improve the situation of poverty,
prevailing in the regions of Nigeria. Further, the paper assess the above details from the data
collected from the various agencies and administrative organizations like the National Bureau
of Statistics (NBS) and Development Financial Institution (DFI).
Article 31:
Oladirin, O. T., Olatunji, S. O., & Hamza, B. T. (2013). Effect of selected procurement
systems on building project performance in Nigeria. International journal of
sustainable construction engineering and technology, 4(1), 48-62.
This article looks at the effect of the selected procurement systems on building project
performance in Nigeria. It looks at every client who has value for money at the beginning of a
project that is spent through a quality structure. It is usually delivered in time and remains
within the budget that is provided by the contractor. The study collected data by the use of
questionnaires and employed them to derive specific information after a thorough analysis. It
studies the construction workers in the state of Lagos. A descriptive method of data analysis
was employed in this study. The design and build system of business performs better in terms
of cost when compared with the lag in the construction industry. The provision of funding
from the SMEs can help boost the productivity and wages of the workers and owners
involved in this line of business. The study makes a close analysis on the stakeholders in the

26IMPACT OF UNCONVENTIONAL FINANCING ON NIGERIAN SMEs
various industries who play a major role in the development of an economy. It also suggests
to build a suitable system to advise the clients on a procurement system before building one.
This paper depicts the wrong methods of the decisions that are taken in an industry, which
leads to its fall. It also analyses the costs borne by a company in comparison to the other
situations.
Article 32:
Oppong, M., Owiredu, A., & Churchill, R. Q. (2014). Micro and small scale enterprises
development in Ghana. European Journal of Accounting Auditing and Finance
Research, 2(6), 84-97.
This paper looks at the micro and small – scale enterprises and their development in
Ghana. It states that these organizations of small and medium – scale enterprises have proved
to be the major instruments to boost economic growth and development. This is accepted
worldwide and the governments across many of the nations have made enough efforts in
trying to explore the capacity of these micro – finance banking organizations. However, the
situation of these micro – finance organizations have let down the government and fallen
short on the expectations of the people to aid to the development of a wide scale of
businesses in the major developing nations. The financial constraints and lack of managerial
expertise to handle the situations of investment have led to a hazardous situation for the
SMEs as getting back their loan amounts has appeared to be difficult. With less timeliness for
the loan repayment, a huge amount of interest is levied that requires regular payments like
weekly payments or so. This, however small, becomes burdensome for the infant stages of an
industry. The paper, further, suggests the use of workshops and seminars by the government
and the non – government organizations to plan, conceptualize, direct as well as control the

27IMPACT OF UNCONVENTIONAL FINANCING ON NIGERIAN SMEs
financing by making efficient strategies in the managerial and marketing perspective for the
survival of these businesses.
Article 33:
Raimi, L., Shokunbi, M. O., Suara, I. B., & Fadipe, A. O. (2013). Embedding Islamic
Financial System (IFS) in the curricula of schools in Nigeria. Journal of Business
Administration and Education, 2(2).
This paper attempts to discuss the stretches of Islamic Financial System (IFS) and the
essential requirement of having knowledge in the curriculum of the schools in Nigeria. This
curriculum is being increasingly welcomed in the regions of Nigeria to promote education
and develop an informative section of youth who add to the economy. This will also enhance
the economy to use better tools to adapt itself by investing into businesses that will help it to
boost the growth of the nation, as a whole. The emphasis is laid on the theoretical foundation
and principles of IFS and the thirteen modes of investing one’s money in the IFS. The
important features of Islamic banking and financing are its consumer – friendly approaches,
policy controllability, credits and channels of investment besides entrepreneurial – driven
policies. The authors also mention that the IFS is a method that enhances and complements
the established Conventional Financial System. The study uses the secondary sources of data
like the magazines, newspapers and journal articles to support its argument and promote the
SMEs. Further, the paper is significant as majority of the population in Nigeria practice Islam
and abide by such doctrines and teachings when it comes to innovation in business.
Article 34:
Sanusi, L. S. (2013). Banks in Nigeria and national economic development: A critical
review.

28IMPACT OF UNCONVENTIONAL FINANCING ON NIGERIAN SMEs
This paper looks into the various protocols undertaken by the banks in Nigeria to
enforce development in the region. It enhances the use of economic policies efficiently to
reach its optimum productivity and attain a state of national economic development. This
paper was prepared by the Research Department of the Central Bank of Nigeria, organized by
the Canadian High Commission in Joint Collaboration with the Chartered Institute of Bankers
of Nigeria. It used the tools of economics to gain a productive optimal in the economy by
using all the resources available. It aims to transform the nature of banking by encouraging
the development of small and medium – scale enterprises (SMEs) and micro, small and
medium – scale enterprises (MSMEs) through reforms and government policies. The article
supports the idea of endogenous growth by supporting the argument of financial
development. Savings and retained savings are encouraged by investments and measures to
safeguard banking practices through the various modes of reforms. In addition, it also fosters
surveillance and healthy competition in the process of a comprehensive, sustainable
development through flexible interest rates and payment options. Further, it aims to establish
a financial stability in the economy of Nigeria through the thirty protocols, included in this
article.
Article 35:
Sraha, G. (2015). Public policy makers: improving export promotion programmes and
entrepreneurial development in a lower emerging economy. African Journal of
Economic and Management Studies, 6(1), 55-71.
This chapter looks at the government structures and the various promotional programs
and policies undertaken by the government to encourage the business transactions across the
borders. It aims to focuss on creating export programs as the prime opportunities for earning
profit to support the national economy in the foreign market of trade. It brings out the

29IMPACT OF UNCONVENTIONAL FINANCING ON NIGERIAN SMEs
significance of Export Promotions Programs (EPP) as a significant strategy to export growth
in Africa. This chapter explores the different export promotion programs that are offered in
the sub – Saharan Africa to expand export capacity of the nation. It looks at globalization as a
multifaceted set that operates in a contradictory fashion. The chapter elaborates on the ideas
of EPPs to elaborate on the practical implications of export in the foreign market for public
policymakers and necessitates on the expansion of the development programs that aid in
export performance. It brings out the fact that an economy needs to establish itself in the
situation of globalization as a developing nation by investing on business opportunities,
funded by SMEs and MSMEs, to invest and expand the trade situations. This is so because an
international market remains unaffected by the challenges and changes within a nation to
produce a product.
Article 36:
Taiwo, J. N., Agwu, E., & Benson, K. N. (2016). The role of microfinance institutions in
financing small businesses. JIBC, 21(1).
This article talks about the important role played by the small and medium sized
enterprises in the context of national development. These small and medium sized enterprises
are able to provide huge employment opportunities to all the citizen of a nation state which
aids to solve their problem of unemployment and decreased rate of economic growth and
development. The author tries to scrutinize the financing which is done of such small and
medium sized enterprises. As a result of this, the government of Nigeria has been successful
in establishing several micro finance banks by 2007 whose main objective is to provide the
needed financial resources to such different kinds of enterprises. The article collected data
from primary sources whereby 15 businesses were chosen to be interviewed. The article

30IMPACT OF UNCONVENTIONAL FINANCING ON NIGERIAN SMEs
concluded with the finding that the recapitulation of such micro finance banks are required to
provide support to such small firms.
The strength of this article is that the information provided by the author has been
structured in a logical and comprehensive manner. However, a limitation of this article is that
it has based its survey only within the state of Lagos. As a result, a comprehensive
understanding of micro finance has not been undertaken.
Article 37:
Thom-Otuya, V. C., & Chukuigwe, N. (2014). Emerging issues in micro finance banks
in Nigeria. European Journal of Business and management, 6(18), 227-231.
This article discusses about the importance of micro finance. It has been stated in the
article that microfinance is considered to be an economic developmental strategy which tries
to provide support to the small firms and poor clients of the society. In this context, it can be
analyzed that the services which are provided are by the way of saving opportunity, micro
leasing, micro insurance, credit facilities and payment services. All of them are aimed at
providing the much needed financial help to the people of the society. This paper focuses on
the micro financing banks of Nigeria. The author enunciates on the present number of such
micro financing banks in the country, their operational functions, the different kinds of
lending services and the various challenges faced by the micro financing sector of the region.
The paper concludes by providing certain recommendations which would help to improve
this sector of Nigeria.
The strength of this article lies in the fact that it has been able to understand the
importance of micro financing. To this regard, it has recognized the various threats to this

31IMPACT OF UNCONVENTIONAL FINANCING ON NIGERIAN SMEs
sector. However, a major limitation of this article is that it has failed to provide any policy
measures to help resolve this issue.
Article 38:
Volz, U. (2017). On the role of central banks in enhancing green finance.
The author of this paper tries to understand the central function of the central bank of
a country in trying to provide financial help to the individuals of the society and also to the
other financial sectors. The allocation of the resources is depended on the need for
establishing a more sustainable economy. In this context, the central bank plays a vital role as
they are usually charged with the responsibility of providing such resources to the people. In
this context, the paper investigates on the various ways by which the central bank undertake
important investment decisions and how they are able to create credit within the society. The
paper concludes with the potential risk on the part of the central bank to over stretch its
mandate, thereby vesting too much power and influence on those organizations those who do
not have significant level of accountability.
The strength of this article lies in the fact that it has followed a logical course of
structure whereby all the various issues can been taken in to account. However, a limitation
of this article is that only the role of the central bank has been considered by overlooking the
responsibility of other banks in the society.
Article 39:
Zander, R. (2015). New trends in financing agricultural value chains–promising
practices and emerging recommendations for policy development. GPFI SME

32IMPACT OF UNCONVENTIONAL FINANCING ON NIGERIAN SMEs
Finance Sub-group, Roundtable on Innovations in Agricultural Finance, Antalya,
September, 9.
This article looks in to the issue of liberalization and globalization which has brought
about significant changes in the world economy by the way of internationalization the market
structure. The rural world is characterized with the existence of an agricultural market place.
With the introduction of the liberalization of the economic market structure, such rural areas
have also transformed significantly. The author is of the idea that the flow of such
agricultural commodities to the people of the society and within the international market
structure would increase when the different obstacles reduce. In this context, the article has
laid emphasis on the importance of value chain of the society. The paper identifies the
different innovative pathways which have been identified in the course of this paper. To
support its findings, the author has taken in to consideration the case study of ICT solutions
for Coffee in Uganda.
The strength of this article is that it has taken in to consideration the factor of
globalization and how it has revolutionized the field of economic market. However, a
limitation of this article is that it has not recognized the problems of integration of the
economic market faced by the developing nations of the world.
Article 40:
Zidana, R. (2015). Small and Medium Enterprises (SMEs) financing and economic
growth in Malawi: Measuring the impact between 1981 and 2014. Journal of
Statistics Research and Reviews, 1(1), 1-6.
The author of this article tries to understand the importance of commercial banks in
financing the micro and the small and medium sized (MSME) enterprises. The article has
taken in to consideration that economic growth as experienced in the region of Malawi

33IMPACT OF UNCONVENTIONAL FINANCING ON NIGERIAN SMEs
between the years of 1980 and 2014. The article also tries to understand the significance of
the interest rates which had to be given by the micro, small and medium sized enterprises in
Malawi. The author has utilized the Ordinary Least Squares method in trying to understand
the prevailing relationships between such levels of financing and the interest rates provided
with that of the economic growth of Malawi. In this context, the article concluded that the
various other issues and challenges to the sector of micro, small and medium sized
enterprises should be reduced if the different policies and measures are to made effective to
this regard.
The strength of this article is that it has made a logical structural flow of information
with comprehensive primary data derived from various sources. However, a limitation of this
article is that it has only looked in to the interest rates as demining economic growth instead
of looking at the level of inflation.

34IMPACT OF UNCONVENTIONAL FINANCING ON NIGERIAN SMEs
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37IMPACT OF UNCONVENTIONAL FINANCING ON NIGERIAN SMEs
Iyagba, R., & Mafimidiwo, B. (2016). Comparative study of problems facing small building
contractors in Nigeria and South Africa. Journal of Emerging Trends in Economics
and Management Sciences, 7(2), 101-109.
Karray, S. C., & eddine Chichti, J. (2013). Bank size and efficiency in developing countries:
intermediation approach versus value added approach and impact of non-traditional
activities. Asian Economic and Financial Review, 3(5), 593.
Mbaegbu, D. (2016). An industrialization strategy for economic diversification and
sustainable development of Nigeria. International Journal of Advanced Studies in
Business Strategies and Management, 4(2), 25-38.
Michael, O. (2014). Multiple taxation as a bane of business development in Nigeria.
Academic Journal of Interdisciplinary Studies, 3(1), 121.
Moruf, O. L. A. D. E. J. O. (2013). Evaluation of the Nigerian Microfinance banks credit
administration on small and medium scale enterprises operation. International Review
of Management and Buisness Research, 2, 505-517.
Niethammer, C. (2013). Women, entrepreneurship and the opportunity to promote
development and business. The 2013 Brookings Blum Roundtable Policy Briefs.
Odia, J. O., & Odia, A. A. (2013). Developing entrepreneurial skills and transforming
challenges into opportunities in Nigeria. Journal of Educational and Social Research,
3(3), 289.
Oladirin, O. T., Olatunji, S. O., & Hamza, B. T. (2013). Effect of selected procurement
systems on building project performance in Nigeria. International journal of
sustainable construction engineering and technology, 4(1), 48-62.

38IMPACT OF UNCONVENTIONAL FINANCING ON NIGERIAN SMEs
Oppong, M., Owiredu, A., & Churchill, R. Q. (2014). Micro and small scale enterprises
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