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Tag: MSMEs

Business

FG unveils Tinubu Light Initiative for one million MSMEs

The Federal Government has unveiled the Tinubu Light Initiative, a programme designed to provide affordable renewable energy solutions to one million micro, small, and medium enterprises. Projections also indicate the initiative could stimulate more than N172 billion in economic activity annually and create over 50,000 direct jobs. Minister of Innovation, Science and Technology Dr. Kingsley […]

Investment

Yobe gov approves ₦460m to empower ‘akara’ sellers, other MSME traders

The Yobe State Government has approved N460.83 million to empower female small business owners, including akara sellers, across the state. The approval was part of resolutions reached at the State Executive Council meeting presided over by Governor Mai Mala Buni at the Government House, Damaturu, on Thursday. Briefing journalists after the meeting, the Commissioner for […]

Investment

Stanbic IBTC, Abia govt partner to boost MSME growth

Stanbic IBTC Bank has affirmed its commitment to accelerating the growth of Micro, Small and Medium Enterprises across Nigeria through strategic partnerships with state governments and institutions committed to creating enabling environments for businesses to thrive. The bank made this commitment during its Nigeria Business Summit Regional Tour held in Aba, in partnership with the […]

Economy

MSMEs are the engine room of Nigerian economy — Shettima

The Bola Tinubu’s administration is building a sustainable, enterprise-led Nigeria, where Micro Small and Medium-scaled Enterprises are improving livelihoods through the prosperity that is created in targeted infrastructure projects, business-support grants, and economic reforms, the Vice President, Senator Kashim Shettima, has said. The core vision, according to him, is to decentralize economic opportunities so that […]

Banking

Kenya banks smash MSME lending target in 2025

Kenya’s banking sector more than doubled its MSME lending target in 2025, disbursing KES326.5 billion ($2.53 billion) in new loans to small and medium-sized businesses, far exceeding the annual target of KES150 billion ($1.16 billion). The performance signals a growing shift by lenders to position the MSME segment as a core growth frontier. Data published […]

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MSMEs lose ₦5–₦10tn yearly to employee fraud – CPPE

Nigeria’s micro, small, and medium enterprises are losing between N5 trillion and N10 trillion annually due to employee fraud and workplace corruption. The Centre for the Promotion of Private Enterprise disclosed this in a statement shared with Nairametrics on Sunday. The policy think-tank described the trend as one of the most serious hidden threats to […]

Policy and Regulations

CBN reforms create opportunities for MSMEs to thrive – ACCI

The Abuja Chamber of Commerce and Industry has stated that the Central Bank of Nigeria has created opportunities for micro, small and medium enterprises to thrive in a competitive environment by providing access to credit facilities, intervention funds, forex management, and financial inclusion strategies. The Director General of the ACCI, Agabaidu Jideani, made this statement […]

Economy

FG reiterates commitment to MSMEs as economic backbone

The federal government has reiterated its commitment to repositioning Nigeria’s micro, small, and medium enterprises as the bedrock of economic transformation. Vice President Kashim Shettima disclosed this at the 6th Annual Lecture of the Development Bank of Nigeria held in Abuja on Thursday. The vice president, who was represented by the Special Adviser to the […]

Business

SMEDAN seeks partnership to address MSMEs’ power issues

The Director General of the Small and Medium Enterprises Development Agency of Nigeria, Charles Odii, stated that the agency is addressing the power challenges faced by MSMEs in Nigeria. The Punch reported that over thirty percent of businesses in Nigeria are affected by energy costs, according to the Manufacturers Association of Nigeria. The challenges faced […]

US academy to train 120 women in entrepreneurship
News

Women own 40% of MSMEs in Nigeria – NBS

A recent study by Small Firm Diaries that was released by the National Bureau of Statistics has revealed that women hold 40% of Micro, Small, and Medium-Sized Enterprises in Nigeria. Only 12% of MSMEs are co-owned by men and women, according to the “Country Data Overview” study, while 48% are owned only by men. According […]

Development Bank reinstates support for MSME growth
Banking

Development Bank reinstates support for MSME growth

The Development Bank of Nigeria has reaffirmed its dedication to helping Nigeria’s Micro, Small, and Medium-Sized Enterprises. According to ThisDay, the bank claimed that the action is a clear signal to MSMEs of their importance in generating wealth and opening up opportunities for employment for the plethora of young people who are unemployed in the […]

Support, don't attack Dangote, Peter Obi tells critics
Opinion

Why govt must prioritise MSMEs – Peter Obi

Kazeem Owoseni     As the World Micro, Small and Medium Sized Enterprises Day is being marked all over the world on Tuesday, the 2023 Presidential candidate of the Labour Party, Peter Obi, had called on the Government of all levels in Nigeria, to fund MSMEs in the country, to boost the economy of Nigeria. […]

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