Date of Conferral
8-7-2024
Date of Award
August 2024
Degree
Doctor of Business Administration (D.B.A.)
School
Business Administration
Advisor
Dr. Matthew Knight
Abstract
In Nigeria, foreign exchange fluctuations impact most businesses and individuals daily. Small- and medium-sized enterprise (SME) leaders in the southwestern region of Nigeria often lose business profitability as the naira currency continuously depreciates in foreign exchanges. Grounded in the purchasing power parity theory, the purpose of this qualitative multiple case study was to explore successful strategies that SME leaders used to mitigate the impact of naira depreciation on business profitability. The participants were six SME leaders who mitigated naira depreciation impacts. Data were collected using remote semistructured interviews and reviews of publicly available organization documents. Through inductive thematic analysis, three themes emerged: operating costs, support and assistance, and operational effectiveness. A key recommendation is for SME leaders to improve cost control, purchase materials locally, seek advice from their financial institutions, and apply for Central Bank of Nigeria SME loan programs. The implications for positive social change include the potential for SME leaders to manage naira depreciation, boost profitability, and generate new jobs, which may help grow the economies of local communities.
Recommended Citation
Ogunmokun, Olasubomi Adeola, "Strategies for Mitigating the Impact of Naira Depreciation on Nigerian Small- and Medium-Sized Enterprises" (2024). Walden Dissertations and Doctoral Studies. 16037.
https://scholarworks.waldenu.edu/dissertations/16037
