Financing small business in ogun state, nigeria: the critical role of the small and medium Enterprises development agency of nigeria (smedan)

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According to the International Labour Organization (ILO), nearly 75 million young people are unemployed around the world, an increase of nearly around 4 million since 2007 (Hannon, 2013). Out of this figure, these researchers perceive that there are at least 200,000 Nigerian university and polytechnic graduates in various disciplines released into the job market every year.

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After completing their one-year mandatory National Youth Service Corps (NYSC) programme, it is unlikely that more than 5% of these fresh graduates would be retained by their employers on permanent jobs. The remaining 95% along with other 500,000 secondary school leavers as well as numerous able-bodied men and women who never went beyond primary school, out of a need to survive and stay away from crime, most likely will either learn a trade/skill or establish a small scale business.

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