MSMEs account for 90% of businesses, 60m jobs in Nigeria – Shettima

by · The Eagle Online

Vice President Kashim Shettima says Micro, Small and Medium Enterprises (MSMEs) account for 90 per cent of all businesses and over 60 million jobs in Nigeria.

Shettima, represented by the Deputy Chief of Staff to the President, Senator Ibrahim Hadejia, stated this on Saturday in Abuja.

This was during the 8th National MSME Awards.

The News Agency of Nigeria (NAN) reports that the event featured the launch of a book, titled: “Building Nigeria, Empowering MSMEs: A Compendium of the Federal Government’s Initiatives and Interventions for Nigerian MSME Growth.”

The book was written by the Special Adviser to the President on Job Creation and MSMEs, Temitola Adekunle-Johnson.

The vice president described small businesses as the engine room of the country, adding that MSMEs improve the livelihoods of the citizens and transform communities.

Shettima said: “Ninety percent of all Nigerian businesses are MSMEs. 

“They are the largest employers of labour in this country, providing jobs for over 60 million of our people.

“Through bold and innovative ideas, and through sweat and courage, our MSMEs are improving the livelihoods of Nigerians and transforming our communities through the prosperity they create.”

The vice president said that the administration of President Bola Ahmed Tinubu was building a sustainable and enterprise-led Nigeria.

The core vision, according to him, is to decentralise economic opportunities so that prosperity is shared equitably among all citizens.

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He noted that the administration was building an entire ecosystem that nurtures innovation, provides essential infrastructure, and removes barriers that have held back small businesses in Nigeria.

Shettima urged winners of the awards and every Nigerian entrepreneur to keep building their businesses, assuring them of government support.

He said: “Nigeria needs your ideas, your jobs, and your leadership. 

“The Federal and State Governments, and private-sector partners, will continue to build an enterprise-led nation.

“Where creativity is rewarded, small businesses grow into conglomerates, and prosperity is shared by all.”

Shettima said one of the central pillars of Tinubu’s Renewed Hope Agenda was creating an enabling environment for MSMEs to thrive and prosper instead of confining them to grants and loans.

According to him, since 2023, the Expanded National MSME Clinics have partnered with state governments to take it to all six geopolitical zones.

He added that the clinics have enabled small business owners to engage directly with regulatory agencies, financial institutions, and business support organisations.

He said: “We have institutionalised 21 state-of-the-art Shared Infrastructure Facilities, providing affordable access to high-speed internet, modern machinery, and collaborative spaces, from digital hubs for our tech innovators to shared production spaces for our fashion designers.”

The vice president said these hubs have supported the creation of 650,000 jobs.

He added: “On the question of financial access, we have moved with deliberate force. 

“Through the provision of the N75 billion MSME Intervention Fund and the N50 billion Presidential Conditional Grant Scheme, we have expanded the pool of capital available to our enterprises.

“Through the Development Bank of Nigeria, we have disbursed N874 billion to approximately 751,000 women and youth led MSMEs.”

Shettima also said that the Tinubu-led administration had provided over N394.88 billion in financing to export-oriented enterprises through the Nigerian Export-Import Bank.

He said: “And under the Skill-Up Artisans programme, we have trained over 165,000 artisans and equipped them with the resources to flourish.”

On the book launched at the event, the vice president explained that many of the administration’s efforts to support MSMEs are carefully documented in it.

According to him, the book stands as a faithful record of Tinubu’s commitment to the prosperity of Nigerian enterprise and a guide for all who wish to understand the work we have undertaken.

He further described the National MSME Awards as a key expression of the broader commitment to the administration’s Renewed Hope Agenda.

He said: “Across the seven editions held so far, more than 50 verified small business owners have been recognised and rewarded for their outstanding contributions to our economy.

“This 8th edition we have deliberately themed the Renewed Hope Edition, and with it we have made a clear policy shift.

“In previous years, excellence was rewarded with cars, shops, or houses alongside cash prizes.

“Those gestures carried meaning, but we came to recognise that in the face of current global economic shifts, what a growing business needs most is liquid capital.”

Earlier, Adekunle-Johnson said the event was special as it recognised the efforts of persons living with disability.

He added that the 2026 MSMEs awards also recognise some of the most creative enterprises across the country.

For his part, the Director-General, Standard Organisation of Nigeria (SON), Dr. Ifeanyi Okeke, said the selection process for the award was rigorous as a total of 13,859 entries came from across the country.

According to Okeke, the awardees were picked from categories comprising agriculture, information and technology, creative industries, furniture, and others.

Speaking with newsmen shortly after the presentation of the awards, the Minister of Information and National Orientation, Mohammed Idris, described the MSME Awards as a clear demonstration of the President’s unwavering commitment to positioning MSMEs as the foundation of Nigeria’s economic prosperity under the Renewed Hope Agenda.

The minister said the recognition given to outstanding entrepreneurs reflects the Federal Government’s determination to create an enabling environment for businesses to thrive, generate employment and stimulate sustainable economic growth.

He said the award recipients themselves acknowledged that the support and policy direction provided by the President had strengthened confidence within the MSME sector and inspired renewed commitment to national development.

Idris said: “The awards are a clear indication of President Bola Ahmed Tinubu’s commitment to repositioning MSMEs as the foundation of Nigeria’s economic prosperity.

“The beneficiaries have dedicated their achievements to Mr. President and the Renewed Hope Agenda, expressing confidence that with the continued support of the administration, Nigeria is firmly on the path to greater prosperity.”

Responding to questions on his own recognition for supporting MSME development and job creation, the minister dedicated the honour to the Federal Ministry of Information and National Orientation, its agencies, and members of staff.

NAN reports that the highpoint of the event was the presentation of the book by Stanley Nkwocha, Senior Special Assistant to the President on Media and Communications.

NAN also reports that awards and prizes were equally presented to the winners of the 2026 MSME awards.

The winners in the 13 categories of the 2026 MSME awards included Zenith Bank Award of Excellence in Wellness, Beauty and Cosmetics won by Myria Gee Limited; WEMA Bank Award of Excellence in Creative Industry, DX Inception Limited; and National Sugar Development Council (NSDC) Award Of Excellence in Agriculture clinched by Fary Business Trade And Supply Company Limited.

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