The British Council, in partnership with the Small and Medium Enterprises Development Agency of Nigeria and with support from the Investment Climate Reform Facility, has inaugurated the Impact Advisory Group — a multi-stakeholder platform designed to sustain inclusive business environment reforms and enhance access to finance for Micro, Small, and Medium Enterprises across Nigeria.

In a statement on Monday, the Council said the launch, held alongside the National Roundtable on MSME Financing at the Lagos Continental Hotel, convened policymakers, financial institutions, development partners, and private sector leaders to explore strategies for expanding inclusive financing opportunities for MSMEs.

Speaking at the event, the Country Director of the British Council, Donna McGowan, reaffirmed the organisation’s commitment to strengthening Nigeria’s reform ecosystem and promoting inclusive economic growth. She noted that the creation of the Impact Advisory Group aligns with the Council’s mission to empower women and young people with the skills and opportunities needed to succeed as entrepreneurs.

“Women’s economic empowerment is a critical driver of sustainable growth. The shared vision of a more prosperous and peaceful world can only be achieved when women have access to the right opportunities and financial resources to grow their businesses,” McGowan stated.

Representing the Director-General of SMEDAN, Dabureje Onesi-Lawani, Director of the DG’s Office and Monitoring & Evaluation, commended the partnership with the British Council and the ICR Facility, emphasizing the importance of sustaining the impact of previous initiatives. He called on all stakeholders to work together to bridge the estimated ₦3 trillion funding gap in Nigeria’s MSME sector.

A major highlight of the event was the signing of a Memorandum of Understanding between SMEDAN and the IAG’s implementing partners, which include EFInA, FATE Foundation, Sterling One Foundation, Africa Venture Philanthropy Alliance, Impact Investors Foundation, and Octoville Development Company.

The British Council’s Director of Programmes, Chikodi Onyemerela, commended the partners for their collaborative efforts and underscored the importance of sustained multi-sectoral partnerships to drive inclusive MSME financing in Nigeria.

Stakeholders at the event committed to taking concrete actions to enhance MSME access to finance, promote gender-inclusive policies, and strengthen coordination among government agencies, development partners, and financial institutions.