Financial experts have renewed calls for inclusive financing and stronger partnerships among government, banks, and the private sector to strengthen Nigeria’s micro, small and medium enterprises (MSMEs).
The experts spoke at the Manufacturing Business Accelerator (MBA) Cohort 2 Graduation and Business Showers in Lagos, themed ‘Innovation, Inclusion, Impact: Redefining MSMEs in Nigeria’s Economy.’
Group Head, Retail and SME Banking at NOVA Bank, Mrs. Esther Obiekwe, described MSMEs as the “heartbeat” of Nigeria’s economy; a sector driving innovation and job creation nationwide.
“Nigeria’s micro, small and medium enterprises represent over 90% of businesses, 80% of employment, and nearly half of our gross domestic product (GDP),” she said. “From roadside tailors to small manufacturers, from tech start-ups in Yaba to agro-processors in Kano, MSMEs are the lifeblood of our economy.”
She highlighted limited access to finance, weak infrastructure, and policy constraints as major barriers. According to her, NOVA Bank is addressing these gaps through digital platforms, simplified onboarding, and tailored advisory services designed to help entrepreneurs grow “smarter, not just bigger.”
ALSO READ How BOI ESG Report Exposes MSMEs Funding Skils Gaps: https://stakebridgeirpr.com/media/2025/11/03/boi-esg-report-exposes-msme-funding-skills-gaps/
“Inclusion is the bridge between potential and participation,” she stated. “Women, youth, and informal-sector entrepreneurs represent untapped energy. When we include them, we expand national productivity.”
Convener of the MBA programme, Mrs. Desola Jimmy-Eboma, said the initiative – through the Small-Scale Enterprise Lab (SSE Lab) – helps entrepreneurs’ transition “from hustle to structure” by offering mentorship and practical business frameworks.
Director-General of the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Mr. Charles Odi, represented by Mr. Bunmi Kola-Dawodu, lauded the effort. He emphasized that sustained collaboration and capacity-building programmes are critical to driving MSME growth and job creation across Nigeria.
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