The Role of Deposit Money Banks in Financing Small Scale Industries in Nigeria (a Study of Fidelity Bank Jos Road, Ahmadu Bello Way, Kaduna

ABSTRACT This study explores the role of deposit money banks, specifically Fidelity Bank located on Jos Road, Ahmadu Bello Way, Kaduna, in financing small scale industries (SSIs) in Nigeria. The research examines how banking facilities and credit offerings influence the growth and sustainability of SSIs in the region. Utilizing a descriptive survey method, the study gathered data from a sample of 392 small scale enterprises, analyzing the impact of financial assistance on their performance and profitability. Questionnaires were employed to collect responses, and statistical methods, including chi-square analyses, were utilized to test the proposed hypotheses. Findings indicate a significant positive relationship between access to bank credits and the performance of SSIs, highlighting the importance of financial support in fostering business growth. The study also identifies challenges faced by small scale industries, such as limited access to affordable credit and underrepresentation of women in entrepreneurship. The study concludes that robust financial planning and tailored banking support are essential for enhancing the productivity of SSIs. Recommendations include that banks should prioritize financing for small scale enterprises and government interventions should focus on improving credit access and reducing interest rates to support SSI development and contribute to overall economic growth in Nigeria.