UN Pushes for Stronger Financial Backing of Nigeria’s MSME Sector
The UN agencies in Nigeria have emphasised the need for greater investment in the development of Micro, Small and Medium-sized Enterprises to drive inclusive economic growth in the country.
The call was made during the commemoration of the 2025 International MSMEs Day on Monday in Abuja.
The event was jointly organised by the UN Industrial Development Organisation, International Labour Organisation, UN Development Programme, UN Information Centre, and the World Intellectual Property Organisation.
Mr Philbert Johnson, Director, UNIDO Sub-regional Office, Abuja, represented by Mr Reuben Bamidele, National Programme Officer at UNIDO, said MSMEs play an important role in nation-building and must be supported to grow sustainably.
“We are gathered today to explore ways of promoting innovation and strengthening growth within the MSME sector.
“In Nigeria, no fewer than 40 million MSMEs contribute significantly to the country’s economic development by providing employment and sustaining livelihoods. MSMEs also play a vital role in boosting GDP across sectors,” he said.
Dr Vanessa Phala, ILO Country Director, represented by Mr Stephen Agugua, National Project Coordinator for the Social Dimension of Ecological Transition, said the ILO remains committed to supporting job creation through MSMEs.
“MSMEs are at the centre of economic development. Through this platform, the ILO is engaging with stakeholders to identify challenges facing MSMEs and develop practical, sustainable solutions,” she said.
Ms Varsha Redkar-Palepu, UNDP Deputy Director, represented by Ms Claire Henshaw, National Programme Specialist and Trade Focal Point at UNDP, outlined MSMEs as crucial to Nigeria’s development.
“MSMEs are engines of job creation, innovation, and social inclusion, especially for women and young people.
“They must be placed at the heart of our development agenda to transform opportunities into tangible outcomes,” she said.
Dr Chinedu Nnabuihe, Managing Director of ProHealth, who spoke on behalf of the Nigeria Employers’ Consultative Association (NECA), commended the UN agencies for convening the dialogue.
He said the event recognised the vital role of MSMEs in fostering innovation, creating employment, and sustaining economic growth.
“In spite of challenges such as limited access to finance, infrastructure, and economic constraints, Nigeria’s MSMEs have continued to show resilience, creativity, and determination,” Nnabuihe said.
He reaffirmed NECA’s commitment to supporting policies and programmes that promote the growth of MSMEs in Nigeria.
The event attracted stakeholders from the Small and Medium Enterprises Development Agency of Nigeria, Nigerian Association of Small Scale Industrialists, Nigerian Association of Small and Medium Enterprises, and the Corporate Affairs Commission.
Also present were representatives of the National Insurance Commission, the Nigeria Social Insurance Trust Fund, and the Abuja Chamber of Commerce and Industry.
Highlights of the event included a visit to the MSME exhibition stands, overview presentations of UNDP and government engagements with MSMEs, and discussions on intellectual property support for small businesses by WIPO.
NAN
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