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Tag: SMEs

MoMo set to activate inbound/outbound transfer capabilities across Africa
Business

MoMo PSB partners SMEDAN to empower Nigerian SMEs digitally

MoMo PSB, the fintech arm of MTN Nigeria, has entered a strategic partnership with the Small and Medium Enterprises Development Agency of Nigeria to provide digital and financial tools aimed at helping small and medium-sized enterprises run operations more efficiently and scale sustainably. The deal was formalised in Lagos on Wednesday. It will allow registered […]

Economy

2026: SMEs will blossom, hunger will reduce, says Pastor Adeboye

The General Overseer of the Redeemed Christian Church of God, Pastor Enoch Adejare Adeboye, has unveiled his prophetic outlook for the year 2026, that hunger across the country would reduce significantly, while small and medium-scale enterprises would begin to thrive and blossom. Pastor Adeboye made the declaration during the church’s annual Crossover Service held at […]

Business

Crowdfunding, leasing cheaper than bank loans for SMEs — Experts

Experts have highlighted a widening range of non-bank financing options designed to help small businesses overcome long-standing barriers to obtaining traditional bank loans. Speaking at the 2025 BusinessDay SME Conference and Awards in Lagos, themed ‘Driving Nigeria’s Economy, Empowering SMEs for Global Competitiveness,’ the experts noted that the future of SME funding in Nigeria will […]

Business

Delayed social media responses cost SMEs significant revenue

Small and medium-sized enterprises across Nigeria are losing significant sales due to slow and inconsistent responses to customer inquiries on WhatsApp and Instagram, platforms that have effectively become major marketplaces in the country. Techstars-backed cloud communications firm PressOne Africa disclosed this in a statement on Tuesday, warning that unmanaged customer service via social media DMs […]

Business

Experts urge SMEs to boost tax compliance, financial reporting

Finance and business experts have strongly urged Nigerian Small and Medium Enterprises to enhance their understanding of financial reporting and tax compliance in light of the recently enacted tax reforms, emphasising that effective collaboration and stringent financial discipline are now absolutely critical for business survival. These discussions took place at the 2025 Business Financial Conference, […]

Business

Reps to boost SMEs finance access, protect customers from fraud

The House of Representatives Committee on Banking Regulations held a public hearing on Thursday in Abuja on two critical bills aimed at strengthening Nigeria’s financial system, expanding access to finance for small and medium enterprises, and protecting bank customers from fraudulent activities. According to BusinessDay, the hearing, chaired by Hon. Mohammed Bello El-Rufai, focused on […]

Reps summon six MDAs over sale of FG properties
News

Reps demand ₦350m for revival of SMEs

The House of Representatives has called on the Federal Government to allocate ₦350 million in the upcoming 2026 budget specifically to revive moribund industries and provide essential support for Small and Medium-sized Enterprises across Nigeria. This resolution was adopted following a motion moved by Hon. Akarachi Amadi, who represents the Mbaitoli/Ikeduru Federal Constituency of Imo […]

Peter Obi
featured Opinion

Obi resumes public engagements, urges investment in SMEs

Former Anambra State Governor and 2023 Labour Party presidential candidate, Mr. Peter Obi, has resumed public engagements after a brief health-related break, reiterating his call for greater investment in Small and Medium Enterprises as a pathway to Nigeria’s economic growth, job creation, and poverty reduction. Obi had earlier announced the medical break in a statement […]

News

Expert urges SMEs embrace innovation for growth 

The CEO and Lead Innovator at Lalaa Consulting, Demola Aderibigbe, has urged small and medium-sized enterprises in Nigeria to embrace creativity and innovation in order to thrive and stay competitive with larger industry players. Speaking at the inaugural Academy of Creativity, Innovation & Disruption event in Lagos, he highlighted that SMEs must leverage these qualities […]

News

Experts offer guidance to SMEs on effective tax documentation

Experts have emphasized the importance for small and medium-scale enterprises to carefully manage their documentation and agreements in order to avoid unnecessary tax liabilities. This advice was shared during the first edition of the United Bank for Africa Knowledge Series webinar, titled “2024 Withholding Tax Regulations: Specific Emphasis on How They Affect SMEs,” held in […]

featured

SMEs can’t afford N70,000 minimum wage – Business owners 

Associations and operators of small businesses in Nigeria have stated that SMEs in Nigeria can’t afford to pay the N70,000 minimum wage that the federal government has approved. President Bola Tinubu recently approved a new minimum wage of N70,000 for Nigerian workers and pledged to review the national minimum wage law every three years, according […]

NACC reaffirms commitment to promoting SMEs growth
News

NACC reaffirms commitment to promoting SMEs growth

Onwubuke Melvin The President of the Nigerian American Chamber of Commerce, Mrs Adebola Williams, has affirmed the chamber’s commitment to promoting the growth of Small and Medium Enterprises, to ensure their sustainability and compliance with international standards. This disclosure was made during her press briefing on Monday for the forthcoming 2024 edition of the Africa […]

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