Vice President Kashim Shettima has urged financial institutions, government agencies and private sector stakeholders to expand their support for Micro, Small and Medium Enterprises (MSMEs), stressing their central role in economic growth, job creation and poverty reduction.

Speaking on Tuesday at the State House, Abuja, while receiving the 2025–2026 MSME Report during a Nigerian MSME stakeholders’ meeting, Shettima emphasised the need to harness technology and innovation to strengthen the sector, particularly for young Nigerians operating in the digital economy.

“We have our jobs cut out for us. SMEDAN is doing an awesome job, so also is ITF. Every stakeholder here, from NAFDAC, to CAC, NITDA, Nigerian Export Promotion Council, and NIPC, is putting in their best, and we are mightily proud of all of you,” the Vice President said.

He encouraged stakeholders to tap into Nigeria’s potential in digital services, agriculture and other growth sectors that can drive MSME development, drawing lessons from India’s performance in business process outsourcing.

“India generated $130 billion in 2025 from business process outsourcing alone. The potential in that outsourcing space is tremendous. So, we need to really harness our potential in the digital space, in agriculture,” he added.

Shettima assured participants that the administration of President Bola Tinubu would continue to prioritise policies and programmes that enable small businesses to thrive.

Earlier, Minister of Information and National Orientation, Mohammed Idris, described the meeting as an opportunity to review achievements recorded in the MSME space, noting that over 250,000 jobs had been created, with more expected.

He commended the Special Adviser to the President on MSMEs and Job Creation (Office of the Vice President), Mr. Temitola Adekunle-Johnson, for convening stakeholders across Africa in Abuja to showcase Nigeria’s progress and chart the way forward for the sector.

Presenting the report, Adekunle-Johnson outlined how the Renewed Hope Agenda has repositioned MSMEs as a key pillar of economic transformation and employment generation. He said efforts over the past year focused on expanding access to affordable finance, reducing operational challenges through shared infrastructure, strengthening market linkages and institutionalising recognition frameworks to promote excellence.

He disclosed that funding access had been expanded through MSME Clinics, which connect small businesses with federal and state agencies, providing market visibility, business formalisation opportunities and on-the-spot grants for outstanding enterprises.

According to him, more than 11 shared hubs have been deployed nationwide in the past year, contributing to the creation of over 250,000 jobs.

Looking ahead to 2026, he said the office would prioritise deeper coordination with partner agencies and state governments, de-risking of funds, expansion of the National MSME Awards, sustainable job creation initiatives, capacity development and improved financing access.

In his goodwill message, Director-General of the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Charles Odii, praised the President and Vice President for providing what he described as a clear blueprint for MSME growth.

He noted that shared facilities created under the initiative have increased productivity and employment, even extending business activity into late hours.

Managing Directors of the Corporate Affairs Commission (CAC), National Agency for Food and Drug Administration and Control (NAFDAC), and Nigerian Export Promotion Council (NEPC) also highlighted how their agencies supported thousands of MSMEs over the past year.

Representatives of Access Bank, Zenith Bank and Wema Bank reaffirmed their commitment to collaborating with the Office of the Vice President to strengthen financing and technical support for small businesses.

The meeting underscored the administration’s push to deepen coordination across institutions and position MSMEs as drivers of inclusive economic growth. (Arise News)

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