Navigating Naira devaluation on the performance of small and medium-scale enterprise in Nigeria

Using annual time series data gathered from the Central Bank of Nigeria Statistical Bulletin (CBN), National Bureau of Statistics (NBS), World Bank data, and Nigeria Meteorological Agency (NIMET) for the years January 1980 to October 2024, this study investigated the impact of Naira devaluation on the performance of small and medium-sized enterprises in Nigeria.The Auto Regressive Distributed Lag (ARDL) method, descriptive statistics, and the Augmented Dickey-Fuller and Phillips-Peron pre-test were all used in the study.The study used the following independent variables: inflation, real interest, gross domestic product, commercial bank total credit, exchange rate, and small and medium-sized enterprises as dependent variables.The result shows that the study's conclusions showed that the exchange rate had a detrimental impact on the SMSE, although this effect was not statistically significant.