Federal Government MSMEs push reaffirmed as Shettima says small businesses are central to Nigeria’s economic transformation under Tinubu’s agenda

Speaking at the 6th Annual Lecture of the Development Bank of Nigeria in Abuja, Shettima, represented by presidential adviser Dr Tope Fasua, stressed that micro, small, and medium enterprises contribute over 80 percent of employment and are pivotal to GDP growth.

Also read: Vice President Kashim Shettima outlines Nigeria’s bold growth

“MSMEs are not peripheral actors; they are the lifeblood of our economy. As government provides policy clarity and enabling infrastructure, institutions such as DBN are vital in turning vision into action,” he said.

The Vice President pointed to the removal of fuel subsidies, foreign exchange unification, infrastructure renewal, and human capital investment as part of reforms designed to strengthen enterprise and attract investment.

DBN Managing Director Tony Okpanachi highlighted the bank’s role beyond financing, describing it as a builder of capacity and a convener of ideas. He said Nigerian entrepreneurs could rise stronger with access to finance, knowledge, and enabling policies.

SMEDAN Director-General Charles Odii announced new strategies to enhance SME competitiveness, including shared infrastructure such as garment hubs, regulatory reforms to ease exports, and support for expansion through innovative logistics partnerships.

“These small but significant steps are designed to make our SMEs not only visible globally but also competitive,” Odii said, noting Nigeria’s recent recognition at the International Africa Trade Fair as evidence of rising potential.

Keynote speaker, Kenyan entrepreneur Flora Mutahi, urged African businesses to scale deliberately to address youth unemployment, stressing resilience and determination as critical.

Also read: Shettima Heads to UN Food Systems Summit to Tackle Food Insecurity

Stakeholders concluded that Nigeria’s economic revival cannot be achieved without the growth and sustainability of MSMEs, which they agreed are central to President Tinubu’s Renewed Hope Agenda.