By Musa Ibrahim
The Nigerian Export-Import Bank (NEXIM), Nigeria’s trade policy bank, has restated its commitment to strengthening micro, small, and medium enterprises (MSMEs) as critical drivers of inclusive growth and national economic transformation.
At the sixth edition of the Development Bank of Nigeria (DBN) Annual Lecture themed ‘Positioning Nigerian Micro, Small, and Medium Enterprises (MSMEs) for Growth in a Dynamic Policy Environment’, held recently in Abuja, NEXIM joined development partners, policymakers, and entrepreneurs to chart new pathways for MSMEs amid Nigeria’s evolving policy climate.
Speaking at the event, Mr. Abba Bello, Managing Director and Chief Executive of NEXIM Bank, emphasized the Bank’s role as a strategic partner in building resilience and expanding opportunities for Nigerian businesses.
“At NEXIM, our mission is clear – strengthening MSMEs through inclusive trade finance, promoting intra-African trade, supporting women and youth entrepreneurs, and driving economic transformation through strategic partnerships. Together, we can unlock the full potential of Nigerian MSMEs and build a resilient, self-reliant economy,” Mr. Bello said.
The lecture came at a time when Nigerian MSMEs are adjusting to far-reaching policy reforms, including the removal of fuel subsidies and the unification of exchange rates. While these measures aim to foster transparency and attract investment, they have also presented new challenges to business operations.
Stakeholders agreed that navigating this environment requires deliberate support. The DBN Annual Lecture has therefore become a critical platform for MSMEs to acquire the knowledge and tools needed to adapt and thrive.
NEXIM Bank highlighted its interventions designed to expand access to trade finance and integrate MSMEs into regional and global value chains. These initiatives align with broader government objectives, including the newly inaugurated National Council on MSMEs, which is expected to harmonise policies and foster partnerships for small business growth.
The sessions featured practical insights from business leaders, including keynote speaker Flora Mutahi, a seasoned entrepreneur with over 27 years of C-suite experience. Breakout discussions explored opportunities in technology, the creative economy, and manufacturing – sectors where NEXIM has continued to support export-ready enterprises.
The DBN disclosed that it has disbursed over N1.1 trillion to MSMEs across the country through 79 participating financial institutions, benefiting more than 700,000 businesses by December 2024.
Dr. Tony Okpanachi, Managing Director (MD) of DBN, explained that these interventions reflect “jobs sustained, dreams realised, and enterprises positioned for growth.” He described the present policy climate as a “new dawn” for MSMEs and emphasized the need for stronger collaboration among stakeholders.
Vice President Kashim Shettima, represented by his Special Adviser on Economic Matters, Dr. Tope Fasua, reaffirmed the administration’s commitment to creating an enabling environment for MSMEs. He noted that reforms such as fuel subsidy removal and exchange rate unification were designed to restore investor confidence and expand opportunities.
“We inaugurated the National Council on MSMEs to harmonise government policies and foster partnerships that will ease access to finance and expand opportunities for small businesses,” the Vice President said, urging stakeholders to align innovation, financing, and policy to ensure prosperity is widely shared.
For NEXIM Bank, the DBN Annual Lecture reinforced the urgency of providing tailored financial solutions that empower MSMEs to scale their operations, access new markets, and withstand policy shifts.
As Mr. Bello noted, “The destiny of Nigeria’s economy is intertwined with the success of its small businesses. When MSMEs thrive, we all thrive.”
