Vice President Kashim Shettima has urged financial institutions, government bodies, and private sector partners to strengthen their support for Micro, Small and Medium Enterprises (MSMEs), pointing out their vital role in fostering economic development, generating employment, and alleviating poverty.
During a stakeholders’ meeting on Tuesday at the State House, Abuja, where he received the MSME Report for 2025-2026, Shettima stressed the importance of utilizing technology and innovation to enhance the MSME sector, particularly for the youth engaged in the digital economy.
"We have our jobs cut out for us. SMEDAN is performing excellently, and so are the ITF and other stakeholders like NAFDAC, CAC, NITDA, the Nigerian Export Promotion Council, and NIPC. We are incredibly proud of your contributions," the Vice President stated.
He further encouraged participants to leverage Nigeria's potential within digital services, agriculture, and emerging growth sectors to foster MSME development, citing India’s success in business process outsourcing as a model to emulate.
"India generated $130 billion from business process outsourcing in 2025. The potential in this sector is enormous. We need to tap into our capabilities in the digital arena and agriculture," he remarked.
Shettima assured attendees that the administration of President Bola Tinubu will prioritize initiatives that support the flourishing of small businesses.
In his earlier remarks, Minister of Information and National Orientation, Mohammed Idris, referred to the meeting as a chance to evaluate progress made in the MSME sector, revealing that over 250,000 jobs had already been created with more anticipated in the future.
Idris praised the Special Adviser to the President on MSMEs and Job Creation, Mr. Temitola Adekunle-Johnson, for bringing together stakeholders from across Africa in Abuja to highlight Nigeria's achievements and explore future pathways for the sector.
While presenting the report, Adekunle-Johnson highlighted how the Renewed Hope Agenda has repositioned MSMEs as a fundamental component of economic transformation and job creation. He explained that the past year’s efforts have centered on improving access to affordable financing, minimizing operational hurdles through shared amenities, enhancing market connections, and establishing recognition frameworks to promote excellence.
He noted that access to funding has been bolstered through MSME Clinics, which link small enterprises with federal and state agencies, providing visibility in the market, opportunities for business formalization, and on-the-spot grants for outstanding ventures.
According to him, over 11 shared hubs have been set up across the country within the last year, leading to the creation of more than 250,000 jobs.
Looking ahead to 2026, he stated that the office will focus on improved coordination with partner agencies and state governments, reducing risks associated with funding, expanding the National MSME Awards, implementing sustainable job creation initiatives, offering capacity building, and enhancing financing access.
The Director-General of the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Charles Odii, shared his goodwill message, commending the President and Vice President for establishing a definitive growth strategy for MSMEs.
He highlighted that shared facilities developed under this initiative have increased productivity and employment opportunities, even extending the business operations into late hours.
Managing Directors from the Corporate Affairs Commission (CAC), the National Agency for Food and Drug Administration and Control (NAFDAC), and the Nigerian Export Promotion Council (NEPC) also emphasized how their organizations have supported thousands of MSMEs in the previous year.
Representatives from Access Bank, Zenith Bank, and Wema Bank reiterated their commitment to collaborating with the Vice President's office to bolster financing and provide technical support for small enterprises.
The meeting underscored the administration's focus on enhancing coordination among various institutions to place MSMEs at the forefront of inclusive economic growth.
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