Exchange Rates Volatility- Performance Overview of Small-Scale Businesses in Ogun, Nigeria Case Study of Food Vendors

Author: Mercy Itohan Asemota-Momodu, Murtadho M. Alao

Abstract

This study investigates the impact of Exchange rate Volatility EXRV on small-scale businesses in Ogun, Nigeria, focusing specifically on food vendors. The Nigerian economy, characterized by a volatile exchange rate regime, poses significant challenges to small businesses, particularly those in the food industry. This research employs a qualitative approach, utilizing the administration of questionnaires on 220 respondents to gather data from a sample of food vendors in Ogun State. The study aims to identify the effects of exchange rate fluctuations on the operations, profitability, and sustainability of small-scale food businesses, as well as the coping mechanisms employed by these entrepreneurs. Findings from this study contribute to the existing literature on EXRV and small business management, providing insights for policymakers, business owners, and other stakeholders. The study recommends that the government should regulate the exchange rate to make it stable for the growth and sustainability of businesses.