By Jennete Ugo Anya
In a significant move to catalyze the growth of Nigeria’s small and medium-sized enterprises (MSMEs), the Nigerian Export-Import Bank (NEXIM) and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) have signed a landmark Memorandum of Understanding (MoU) in Abuja. The partnership is poised to transform the fortunes of Nigerian small businesses by enhancing access to export financing, targeted training, and international market integration.
The MoU establishes a robust collaboration framework between the two institutions aimed at boosting the competitiveness of Nigerian MSMEs, particularly in the non-oil export space. It focuses on delivering customized financial solutions, building capacity through advisory services, showcasing Nigerian MSME products globally, and removing barriers to entry in export trade — all with the ultimate goal of positioning Nigeria’s SMEs as key players in regional and global value chains.
Speaking at the MoU signing, the Managing Director/CEO of NEXIM Bank, Mr. Abba Bello, described the partnership as “a critical step” in Nigeria’s mission to empower SMEs for global trade. “By combining NEXIM’s financial tools with SMEDAN’s development reach, we are creating a supportive ecosystem for SMEs to thrive — especially within the AfCFTA framework,” he said.
SMEDAN’s Director-General, Mr. Charles Odii, reinforced this vision, stating: “This partnership is about building an export-ready SME class. Beyond skills, our entrepreneurs need accessible funding. This MoU will help bridge that gap and bring more Nigerian businesses into the international marketplace.”
The agreement aligns with the federal government’s broader economic diversification and inclusion strategy, providing the backbone for interventions that will strengthen Nigeria’s non-oil sector, expand job creation, and scale MSMEs into globally competitive entities.
MSME Forum and Awards Night Amplify Sector Vision
Separately, Mr. Bello and Mr. Odii joined a gathering of top policymakers, entrepreneurs, and development leaders at the 4th MSME Forum and 7th National MSME Awards Night, held between June 24th and 26th, 2025 in Abuja. The forum attracted delegates from over 50 African countries to engage in high-level discussions on digital transformation, financing access, and the structural reforms needed to accelerate MSME growth across Africa.
The event featured exhibitions, panel sessions, and policy dialogues aimed at strengthening intra-African trade, developing regional value chains, and elevating MSMEs into agents of economic integration.
Culminating the weeklong forum was the National MSME Awards Night, which celebrated innovation and resilience among Nigeria’s small business owners. Winners received cash prizes, houses, and business support tools — a public acknowledgment of the vital role MSMEs play in Nigeria’s economy.
Among the dignitaries present were Vice President Senator Kashim Shettima, Deputy Chief of Staff and Chair of the National MSME Council Senator Ibrahim Hadejia, and ministers including Dr. Bosun Tijani, Dr. Doris Uzoka-Anite, and Hon. Hannatu Musawa. Also in attendance were agency heads such as Zacch Adedeji (FIRS), Dr. Olasupo Olusi (BOI), Aisha Rimi (NIPC), Nonye Ayeni (NEPC), and Charles Odii (SMEDAN).
Repositioning Nigerian MSMEs for Global Impact
With the NEXIM-SMEDAN pact now in motion and the momentum from the MSME Forum still resonating, Nigeria is clearly sending a message: the era of sidelined small businesses is over. Through strategic financing, institutional collaboration, and active policy engagement, MSMEs are being repositioned to drive inclusive growth, non-oil exports, and economic resilience in the years ahead.
This alignment of action and policy could very well mark a turning point in Nigeria’s export journey — placing its small businesses at the forefront of continental trade and global commerce.
