Assessing Naira Devaluation and Tight Monetary Policy Impact on Small Medium Enterprises in Nigeria
DOI:
https://doi.org/10.38142/jebd.v2i4.254Keywords:
Naira Devaluation, Monetary Policy Rate, Small and Medium Scale Enterprises (SMEs), Exchange Rate Fluctuations, Macroeconomic Shocks, NigeriaAbstract
Purpose:
This study aims to optimize the management of Munggu Tourist Village through the application of the Business Model Canvas (BMC). By utilizing the BMC framework, tourist village development can become more focused, professional, and sustainable, thereby delivering positive impacts for both tourists and local communities.
Methodology:
This research employs a qualitative approach. Data collection is conducted through observation, in-depth interviews, and Focus Group Discussions (FGD). In-depth interviews are conducted with business managers in Desa Munggu. The FGD involves inviting the Village Head (Perbekel), the Traditional Village Head (Bendesa Adat Munggu), the Village Supervisory Board, the Chairperson of the Desa Munggu Tourism Awareness Group (Kelompok Sadar Wisata), the Chairperson of the Desa Munggu Tourism Business Management, and the Village Environmental Chairperson.
Findings:
This finding confirms that the Business Model Canvas (BMC) can serve as a flexible and relevant strategic tool to support the sustainable development of tourism villages based on local wisdom.
Implication:
This study confirms that the Business Model Canvas (BMC) is a strategic tool that effectively supports the sustainable development of tourism villages based on local wisdom. The findings provide practical guidance for tourism village managers and government authorities in designing effective business strategies, empowering local communities, and maintaining the attractions of the destination. Furthermore, this research encourages responsible tourism management to preserve culture and the environment while opening opportunities for further studies in other tourism destinations.
Downloads
References
Abang, S.O., Ayodele, O., Okey, O.J., Nwanne, D.C. & Arasomwan, K.O. (2025). The Nigeria Currency Devaluation and its Consequences on the Growth of Small and Medium Scale Enterprise. Mustard Journal De Ecobusin. Volume 1, issue 4
Abang S.O, Arasomwan K.O. & Ayodele O. (2024). Fuel Subsidy Removal, Insecurity, The Impact on Rising Food Inflation in Nigeria: A Comparative of Time Series Analysis and Machine Learning Techniques. Discovery; 60: https://doi.org/10.54905/disssi.v60i336.e27d1483
Abang, S.O. (2023). Economic Policies, Income Distribution and Inflation in Nigeria. A Ph.D. Dissertation Submitted to the Graduate School, University of Calabar, Calabar
Adeniyi, O., Oyinlola, A., & Adenuga, A. (2017). Impact of Naira Devaluation on Small and Medium Scale Enterprises in Nigeria. Journal of Economic and Financial Studies, 6(2), 1-12.
Adewale, A., Olowe, O., & Adeyemi, O. (2022). Assessing the Impact of Monetary Policy Rate Hikes on Financial Vulnerability of Small and Medium Scale Enterprises in Nigeria. Journal of Economic and Financial Studies, 11(2), 1-15.
Afolabi, O., Olowe, O., & Adegbite, E. (2015). Impact of Monetary Policy Rate on Small and Medium Scale Enterprises (SMEs) in Nigeria. Journal of Economics and Finance, 6(2), 1-12.
Akingunola, R. O (2011). Small and Medium scale Enterprises and Economic growth in Nigeria: An Assessment of Financing Options. Pakistan journal of business and economic review Vol. 2, No 1.
Ankara., (2015). Devaluation and its impact on the Ethiopian Economy. Hacettepe University Graduate School of Social Sciences Faculty of Economics and Administrative Science Department of Economics Master's Thesis.
Barney, J. B. (1991). Firm Resources and Sustained Competitive Advantage. Journal of Management, 17(1), 99-120. https://doi.org/10.1177/014920639101700108
Central Bank of Nigeria. (CBN) (2024). Statistical Bulletin
Central Bank of Nigeria. (CBN) (2020). Annual report
Chang C. & Hsu H. (2013), ―Modeling Volatility Size Effects for Firm’s Performance: The Impact to Taiwan‖, Munich Personal RePEc Archive, MPRA Paper No. 45691.
Fauzi, A. A., & Sheng, M. L. (2020). The Digitalization of Micro, Small, and Medium-Sized Enterprises (MSMEs): An Institutional Theory Perspective. Journal of Small Business Management, 1-26. https://doi.org/10.1080/00472778.2020.1745536
Grant, R. M. (1991). The Resource-Based Theory of Competitive Advantage: Implications for Strategy Formulation. California management review, 33(3), 114-135, https://doi.org/10.2307/41166664
Grewal, D., Iyer, G. R., Javalgi, R. R. G., & Radulovich, L. (2011). Franchise Partnership and International Expansion: A Conceptual Framework and Research Propositions. Entrepreneurship Theory and Practice, 35(3), 533-557, https://doi.org/10.1111/j.1540-6520.2011.00444.x
Iyoha, F. O., Adeyemi, O. A., & Oyinlola, M. A. (2020). Assessing the Combined Impact of Exchange Rate Volatility and Monetary Policy on Small and Medium Scale Enterprises in Nigeria. Journal of African Business, 21(2), 157-175.
Mustafa C. and Rebecca I.M. (2008), ―The Effect of the Exchange Rates on Investment in Mexican Manufacturing Industry‖, Warwick Economic Research Papers No. 846.
Mustafa C. and Firat D. (2011), ―Firm productivity, Exchange rate Movement, Sources of Finance and Export Orientation‖, Sheffield Economic Research Paper Series, SERP Number 2011004
Ogundipe., Ojeaga., & Ogundipe., (2013). Estimating the Long Run Effects of Exchange Rate Devaluation on the Trade Balance of Nigeria. European Scientific Journal vol.9, No.25 ISSN: 1857 – 7881 (Print) e - ISSN 1857- 7431.
Okpala & Eze, (2015). Quantitative Analysis on the Impact of Small and Medium-Scale Enterprises on the Growth of Nigeria's Economy
Olowe, O., Adenuga, A. O., & Osinubi, T. S. (2017). Monetary Policy Rate and Small and Medium Scale Enterprises (SMEs) Performance in Nigeria. Journal of Economic and Financial Studies, 6(2), 1-12.
OPEC (2023) Organization of Petroleum Exporting Countries
Oyinlola, M. A., Adeniyi, O., & Oyinlola, A. O. (2018). Impact of Exchange Rate Volatility on Small and Medium Scale Enterprises (SMEs) in Nigeria. Journal of Economic and Financial Studies, 7(2), 1-14.
Varela G. (2007). Real Exchange Rate Volatility and Output: A Sectoral Analysis, Accessed http://www.eclac.cl/redima
Downloads
Published
Issue
Section
License
Copyright (c) 2025 Samuel Oweh ABANG, Daniella Chinyere NWANNE, Chinenye Blessing AMAONYE, Loveth Ifeoma Abang SAMUEL
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
Creative Commons Attribution-NonCommercial 4.0 International License.
