The British Council, in collaboration with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) and with support from the Investment Climate Reform (ICR) Facility, has launched the Impact Advisory Group (IAG), a multi-stakeholder platform designed to sustain inclusive business environment reforms and improve access to finance for Micro, Small, and Medium Enterprises (MSMEs) across Nigeria.
The initiative was unveiled during the National Roundtable on MSME Financing held at the Lagos Continental Hotel. The event brought together policymakers, financial institutions, development partners, and private sector stakeholders to discuss strategies for unlocking inclusive financing opportunities for MSMEs.
The Country Director of the British Council, Donna McGowan, reaffirmed the Council’s commitment to supporting Nigeria’s reform ecosystem and advancing inclusive economic growth. She noted that the creation of the IAG reflects the Council’s broader mission to empower women and young people with the skills and resources needed to thrive as entrepreneurs.
“Women’s economic empowerment is a critical driver of sustainable growth. The shared vision of a more prosperous and peaceful world can only be achieved when women have access to the right opportunities and financial resources to grow their businesses,” McGowan said.
Representing the Director-General of SMEDAN, Dabureje Onesi-Lawani, Director of the DG’s Office and Monitoring & Evaluation, commended the partnership with the British Council and the ICR Facility. He emphasized that sustaining the gains of previous reform efforts was key and called for stronger collaboration to bridge the estimated N3 trillion funding gap facing Nigeria’s MSME sector.
A major highlight of the event was the signing of a Memorandum of Understanding (MoU) between SMEDAN and the IAG’s implementing partners, which include EFInA, FATE Foundation, Sterling One Foundation, Africa Venture Philanthropy Alliance, Impact Investors Foundation, and Octoville Development Company.
Director of Programmes at the British Council, Chikodi Onyemerela, commended the partners for their collaboration and stressed the importance of sustained, multi-sectoral efforts to advance inclusive MSME financing nationwide.
Stakeholders at the event committed to taking concrete actions to expand MSME access to finance, promote gender-responsive policies, and enhance coordination among government agencies, development institutions, and the private sector.
