Vice President Kashim Shettima has revealed that Micro, Small and Medium Enterprises (MSMEs) constitute 90 per cent of all businesses in Nigeria and provide employment for over 60 million citizens.
Mr Shettima stated this on Saturday in Abuja during the eighth National MSME Awards, where he was represented by the Deputy Chief of Staff to the President, Ibrahim Hadejia. Describing small businesses as the engine room of the economy, he emphasised their role in improving livelihoods and transforming communities.
“90 per cent 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,” he said. “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 the administration of President Bola Tinubu was committed to building a sustainable, enterprise-led Nigeria, with a core vision to decentralise economic opportunities and ensure equitable distribution of prosperity. He noted that the government was nurturing an ecosystem that fosters innovation, provides essential infrastructure, and removes barriers hindering small businesses.
Mr Shettima urged entrepreneurs to continue building their enterprises, assuring them of government support. “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,” he declared.
He identified one of the central pillars of the Renewed Hope Agenda as creating an enabling environment for MSMEs, rather than confining them to grants and loans. Since 2023, the Expanded National MSME Clinics have partnered with state governments across all six geopolitical zones, enabling small business owners to engage directly with regulatory agencies, financial institutions, and business support organisations.
The government has also institutionalised 21 state-of-the-art Shared Infrastructure Facilities, providing affordable access to high-speed internet, modern machinery, and collaborative spaces, supporting the creation of 650,000 jobs. On financial access, Mr Shettima noted the provision of the N75 billion MSME Intervention Fund and the N50 billion Presidential Conditional Grant Scheme. Through the Development Bank of Nigeria, N874 billion has been disbursed to approximately 751,000 women and youth-led MSMEs.
Additionally, the administration has provided over N394.88 billion in financing to export-oriented enterprises through the Nigerian Export-Import Bank, while the Skill-Up Artisans programme has trained over 165,000 artisans.
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,” written by Temitola Adekunle-Johnson, Special Adviser to the President on Job Creation and MSMEs. Mr Shettima described the book as a faithful record of the administration’s commitment to enterprise prosperity.
The Vice President noted that the National MSME Awards represent a key expression of the Renewed Hope Agenda, with this eighth edition themed the Renewed Hope Edition. He announced a policy shift from rewarding excellence with cars, shops, or houses to providing liquid capital, which growing businesses urgently need in the face of global economic shifts.
Earlier, Mr Adekunle-Johnson said the event recognised the efforts of persons living with disability and some of the most creative enterprises across the country. The Director-General of the Standard Organisation of Nigeria (SON), Dr Ifeanyi Okeke, revealed that 13,859 entries were received nationwide, with awardees selected from categories including agriculture, information technology, creative industries, and furniture.
Speaking to journalists, the Minister of Information and National Orientation, Mohammed Idris, described the awards as a clear demonstration of the President’s unwavering commitment to positioning MSMEs as the foundation of Nigeria’s economic prosperity. He said the recognition reflected the government’s determination to create an enabling environment for businesses to thrive, generate employment, and stimulate sustainable economic growth.
The minister dedicated his own recognition for supporting MSME development to the Federal Ministry of Information and National Orientation, its agencies, and staff. The high point of the event was the presentation of the book by Stanley Nkwocha, Senior Special Assistant to the President on Media and Communications, followed by the presentation of awards and prizes to the winners of the 2026 MSME Awards.
