Nigeria’s industry ministry has praised the National Association of Small and Medium Enterprises for its continued commitment to strengthening the growth and resilience of micro, small, and medium enterprises, describing the sector as the backbone of the nation’s economy.
The commendation came on Friday in Abuja during the opening of the 20th MSMEs International Summit and Exhibition organised by the association under the theme Revolutionizing job creation, income generation and poverty reduction through MSME development and growth. The ministry noted through its representative that the summit serves as a strategic platform for strengthening the MSME ecosystem, addressing industrial gaps, and promoting innovation-driven clusters and incubation systems.
The ministry emphasised that Nigeria’s entrepreneurial population remains one of its greatest assets, adding that MSMEs dominate the country’s business landscape, create millions of jobs in both formal and informal sectors, stimulate innovation, support value addition, and drive export potential. Despite this influence, the ministry pointed out that MSMEs continue to struggle with inadequate infrastructure, limited access to financ,e and weak institutional support.
The government assured participants that ongoing reforms are targeted at ensuring MSMEs can thrive in an increasingly competitive global environment. The ministry reiterated that its focus is on creating an enabling environment where small businesses can generate employment, boost incomes, and contribute meaningfully to poverty reduction. It also disclosed that work is underway to expand incubation centres and industrial clusters that will provide shared facilities, reduce costs, enhance productivit,y and accelerate the ability of small businesses to innovate and scale.
At the summit, the standards agency reaffirmed its commitment to quality enhancement and competitiveness, noting that MSME growth depends not only on innovation and entrepreneurship but also on the assurance of product quality. The agency expressed satisfaction in joining the celebration of the association’s twentieth summit and highlighted that the gathering reflects the creativity and resilience that MSMEs continue to demonstrate across Nigeria.
The association’s president, in his keynote remarks, described the summit as a national call to rethink how prosperity is built. He said the theme challenges the country to redesign its job creation and income generation approaches by placing MSMEs at the centre of economic transformation. He explained that MSMEs represent more than an economic segment; they embody a philosophy that every citizen has the capacity to innovate, build and thrive. According to him, national development grows from the courage and persistence of everyday people turning ideas into enterprise.
He stressed that meaningful progress requires modernising MSME operations, improving financing opportunities, strengthening quality standards and certifications, eliminating policy barriers and multiple taxation, empowering young people and women, and integrating MSMEs into regional and global value chains. He added that job creation will come from enabling more citizens to become job creators, while poverty reduction will depend on expanding opportunities for sustainable enterprise rather than relying solely on temporary relief measures.
He reaffirmed the association’s commitment to championing policies that support MSMEs, deepening partnerships and building the capacity of small businesses to compete within and beyond Nigeria. He urged that the summit serve as a renewed pledge to create a country where small businesses are empowered, innovation is encouraged and prosperity becomes widely shared.
Development institutions and organisations central to MSME growth also delivered goodwill messages, including financial institutions, international development partners, and agencies involved in credit guarantees, industrial suppor,t and enterprise development.
