ABSTRACT
Nigeria Vision 20:2020 Economic Transformation Blueprint is a
long range plan that aims at launching Nigeria in the league of
top twenty developed economies of the world by the year 2020.
However, the SME sub-sector has been identified by
government and development experts as the main engine of
economic transformation. This is because, the SMEs contribution
towards economic growth and development are numerous and
multifaceted. An active SME sub-sector is the principal means
by which a society stimulates indigenous entrepreneurship,
generates employment, wealth creation, poverty reduction, and
promotes material well being of its populace. SMEs in Nigeria
have been constrained by number of factors. Consequently, this
study has its objective to determining the challenges facing the
Small and Medium Enterprises and the effects of these
challenges in achieving Vision 20:2020. The researcher used
the survey research design. Data were collected mainly from
primary source.
Questionnaires were administered to 70
respondents (the management staff of SMEs in manufacturing
sub-sector that are members of MAN). Census was used for the
study since the entire population of the management staff of
SMEs (70) was small. Data were presented using tables. A nonparametric
inferential statistics known as chi-square was used
to test the hypotheses. The study showed that, there is a huge
gap in infrastructures (power supply, roads networks, good
healthcare delivery, ICT), poor access to finance and insufficient
