The 21st century have seen the rise in the use of information and communication technology. This technology had overtime facilitated the growth of social media for ease of socializing and networking. Companies like Amazon, Alibaba among others leverage on e-commerce, integrating social media to provide product and services all over the world. In Nigeria, the likes of Jumia, Konga among others leverage on the social media space to market their product and services along with their website and mobile applications enabled by technology. With the huge number of people adopting the use of social media, it is critical to investigate how social media have impacted financial performance of Small and Medium Enterprises (SMEs) in Nigeria. With the use of ANOVA, Chi-square, the study analyzes responses from 566 respondents based on cleaned data obtained from Research ICT Africa Survey (RIAS) survey data published in 2019. Theoretically, the study is anchored on the social network theory. Evidence suggested that social media have contributed immensely to the growth of SMEs in Nigeria, helped in customer engagement and retention and also facilitate advertisement of goods and services. Evidence also suggested a significant relationship between social media advertisement and financial performance among SMEs in Nigeria.
This paper examines the relationship between public debt and exports of Nigeria, ranging from the period 1981 to 2017. It analyses the trend of public debt and its measure of sustainability and how it relates to the export earnings of Nigeria. Granger causality was used to test the causality effect of public debts on Nigeria's exports (oil and non-oil exports). Also, threshold regression analysis was used to investigate the relationship between public debt and exports of Nigeria. Granger causality results show that the export of goods and services of Nigeria granger causes external debt while external debt does not granger cause the export of goods and services. Domestic debt has a statistically significant influence on exports of Nigeria, but a threshold exists for this to avoid the crowding-out effect and higher interest rate, which will influence exports negatively. Hence, for Nigeria as a nation to maintain the sustainability of its domestic debt in relation to exports, there is an existence of a maximum threshold limit of ₦6,538 billion, while external debt should be below ₦3,178 billion.
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