At the annual MSMEs Fair held on May 6 at NECA House in Alausa, Lagos, the Nigeria Employers’ Consultative Association (NECA) called for stronger structural support to drive the growth and sustainability of micro, small, and medium enterprises in Nigeria. Speaking at the event, NECA Treasurer emphasized the importance of infrastructure development, access to finance, and capacity-building workshops to create a more enabling environment for business success.
The fair, which is designed to empower startups and small business owners with practical growth strategies, provided a platform for dialogue on the future of MSMEs in Nigeria. During the discussions, NECA stressed that ideas generated at the event, if effectively implemented, could contribute meaningfully to national economic stability and growth. Stakeholders were urged to treat MSME support as a strategic and long-term investment rather than a short-term profit-driven initiative.
On the theme “Galvanising MSMEs for Economic Growth and Stability,” NECA encouraged entrepreneurs to demonstrate their potential and called for innovative and inclusive development strategies. Emphasis was placed on the need for non-commercial support mechanisms, including grants and policy-driven initiatives that prioritize long-term development over immediate financial returns.
Delivering the keynote address, the Managing Director of Fate Foundation highlighted the need for a strong policy framework that guarantees MSMEs access to basic infrastructure, expert financial guidance, and consistent government backing. She reiterated that meaningful national development cannot be achieved without fully integrating MSMEs into the economic framework and encouraged stakeholders to prioritize capacity building as a foundation for business growth.
Echoing the call for sustainable practices, the Country Director of the International Labour Organisation, Ms. Vanessa Phala-Moyo, urged MSMEs to uphold human rights standards, particularly in eliminating child labour. She noted that a business model rooted in ethics and inclusivity is vital for sustainable development and long-term economic transformation.
The event concluded with a consensus that while access to finance is critical, the success of MSMEs also hinges on regulatory support, ethical practices, human capacity development, and a collective shift in mindset across both public and private sectors.
