By Jennete Ugo Anya
Vice President Kashim Shettima has urged financial institutions, government agencies, and private sector actors to broaden support for Micro, Small, and Medium Enterprises (MSMEs), citing their critical role in job creation, economic growth, and poverty reduction.
He made the remarks recently at the State House while receiving the 2025-2026 MSME Report during a stakeholders’ meeting.
Vice President Shettima emphasized the need to harness technology and innovation to strengthen MSMEs, particularly for young Nigerians engaged 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,” he said.
The Vice President highlighted opportunities in digital services and agriculture, drawing lessons from India’s business process outsourcing sector, which generated $130 billion in 2025. He urged Nigerian stakeholders to tap into the country’s potential in these growth areas to expand MSME development.
The Vice President assured participants that the administration of President Bola Tinubu would continue to implement 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 progress in the MSME space. He noted that over 250,000 jobs had been created, with more expected, and commended the Special Adviser to the President on MSMEs and Job Creation, Mr. Temitola Adekunle-Johnson, for convening stakeholders from across Africa to showcase Nigeria’s progress and chart the sector’s future.
Adekunle-Johnson, presenting the report, explained how the Renewed Hope Agenda has repositioned MSMEs as a pillar of economic transformation and employment generation. Efforts over the past year focused on expanding access to affordable finance, reducing operational challenges through shared infrastructure, strengthening market linkages, and institutionalizing recognition frameworks to promote excellence.
Funding access had been enhanced through MSME Clinics, which connect small businesses with federal and state agencies, providing market visibility, business formalization opportunities, and on-the-spot grants for outstanding enterprises. He revealed that 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, Adekunle-Johnson said the office would focus on 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.
Charles Odii, Director-General of the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), praised the President and Vice President for providing a clear blueprint for MSME growth. He highlighted how shared facilities created under the initiative have increased productivity, extended business hours, and boosted employment opportunities.
Representatives from the Corporate Affairs Commission (CAC), National Agency for Food and Drug Administration and Control (NAFDAC), and Nigerian Export Promotion Council (NEPC) also shared insights on supporting thousands of MSMEs over the past year. Managing directors from Access Bank, Zenith Bank, and Wema Bank reaffirmed their commitment to partnering with the Office of the Vice President to strengthen financing and technical support for small businesses.
The meeting highlighted the administration’s emphasis on coordination across institutions and positioned MSMEs as key drivers of inclusive economic growth, with digital innovation and agriculture identified as priority areas for expansion in 2026.
