BANJO, Kudirat Adeola
Department of Insurance and Actuarial Science
College of Applied Social Science
Lagos State University of Science and Technology, Ikorodu, Lagos
peaceadeolabanjo@gmail.com
OLUFAWO, Henry Siji
Department of Insurance and Actuarial Science
College of Applied Social Science
Lagos State University of Science and Technology, Ikorodu, Lagos
OGUNLAMI, Kayode Olayiwola
Department of Insurance and Actuarial Science
College of Applied Social Science
Lagos State University of Science and Technology, Ikorodu, Lagos
LAWAL, Sakiru Abiola
Department of Banking and Finance
Lagos State University of Science and Technology, Ikorodu, Lagos
ABSTRACT
This study’s main objective is to determine how risk exposures and risk mitigation techniques
impact the ability of SMEs to survive in Nigeria. The study adopted an explanatory research
design strategy. The population for the study comprises 152 registered SMEs in Ikorodu and
Ikeja areas of Lagos Nigeria, out of which 110 were surveyed as the samples size. The study
collected primary data using a structured questionnaire. The Kendall’s statistic and Ordinary
Least Square (OLS) regression model were used for data analyses. The study found that SMEs’
operators’ crises management capacity is relatively low; and that SMEs’ method of risk
mitigation cannot significantly grasp risk exposures. This study recommends that SMEs’
operators should have a solid grasp of their operations and engage specialists to them risk
exposure evaluation and assessment techniques.
Keywords: Risk exposures, risk mitigation strategies, risk evaluation, risk management