Risk Management Practices Among Small Traders in Maiduguri, Borno State

This study examines informal and formal risk management practices among small-scale traders in Maiduguri, Borno State, North East Nigeria. Maiduguri's commercial economy has been significantly disrupted by over a decade of armed conflict in the Lake Chad Basin region, exposing traders to unique and compounded risks including physical insecurity, supply chain disruptions, property damage, and market collapse. Against this backdrop, understanding how traders manage economic risks, and to what extent formal insurance instruments play a role, is both academically and practically important. This research employs a descriptive survey design with 300 small traders drawn from three major markets in Maiduguri metropolis. Structured questionnaires assess the types of risks perceived as most severe, coping strategies employed (including savings, community solidarity, informal credit, and formal insurance), and willingness to adopt formal insurance products. Focus group discussions provide qualitative context for quantitative findings. Descriptive statistics and thematic analysis are applied. Preliminary findings are expected to reveal heavy reliance on informal risk-sharing networks and low uptake of formal insurance, constrained by distrust, cost, and limited product availability in conflict-affected environments. The research recommends humanitarian-insurance partnerships to develop conflict-sensitive insurance products for traders in post-emergency recovery contexts. Keywords: Risk Management, Small Traders, Maiduguri, Conflict Risk, Informal Insurance.