The Nigeria Employers’ Consultative Association (NECA) has highlighted inconsistent government policies and poor access to finance as persistent obstacles hindering the growth of Micro, Small, and Medium Enterprises (MSMEs) in Nigeria.
This was made known during the NECA MSMEs Fair ’25 South-East Edition, held in Enugu, with the theme: “Galvanising MSMEs for Economic Growth and Stability.”
Addressing participants, NECA President, Dr. Ifeanyi Okoye, explained that while MSMEs are the backbone of Nigeria’s economy, many entrepreneurs struggle to stay afloat due to unpredictable policy changes, unreliable electricity, and limited infrastructure.
“Somebody will come today and say these people will not pay tax, tomorrow, another person will come and say they should start paying tax. Another will come up and say collect one Naira, and another person will come tomorrow and say collect three Naira. All these are affecting businesses,” he said.
Dr. Okoye stressed that these shifts create uncertainty that makes it difficult for small businesses to plan, scale, or attract long-term investment. He noted that limited access to affordable credit facilities remains another pressing challenge for MSMEs, as many cannot meet collateral requirements set by traditional banks.
Despite these constraints, NECA reaffirmed its commitment to supporting small businesses. Dr. Okoye said the fair was designed as more than just an exhibition, but a “call to action” for stakeholders across finance, policy, and innovation to rally behind the sector.
“MSMEs represent over 90 per cent of businesses in Nigeria, employing millions of people and contributing significantly to GDP. They remain the true drivers of resilience and innovation in our economy,” he noted.
He urged policymakers, financiers, innovators, and entrepreneurs to collaborate more closely in unlocking the full potential of the sector. “Through networking, investments, linkages, policy engagement, and knowledge sharing, NECA is committed to building an enabling environment where businesses can thrive, compete, and scale,” he added.
The South-East edition of the NECA-MSME Fair brought together entrepreneurs, business leaders, government representatives, and financial institutions to discuss practical solutions for strengthening Nigeria’s MSME ecosystem. Exhibitors showcased products and services ranging from agro-processing and fashion to digital solutions and renewable energy, underscoring the creativity and resilience of Nigerian entrepreneurs.
