Small business advocates have renewed calls for stronger support systems to help Nigerian Micro, Small and Medium Enterprises scale, stay competitive and access global opportunities. The appeal was made at the Manufacturing Business Accelerator Business Shower Cohort graduation and showcase in Lagos, where participants highlighted the urgent need for improved financing, infrastructure and sustainable business frameworks to strengthen the MSME sector.
The organizers explained that the accelerator program was designed to equip small business owners with practical tools, mentorship and business models that help transform early-stage ventures into structured, bankable and scalable enterprises. They noted that more than one hundred entrepreneurs have passed through the programme since inception, while over four thousand MSMEs have received various forms of support to enhance productivity and growth.
Speakers at the event observed that many MSMEs continue to struggle under the weight of limited access to credit, inflationary pressure, weak consumer demand, multiple taxation and persistent infrastructure gaps. They stressed that these challenges limit competitiveness and stall the capacity of small businesses to innovate and expand beyond their immediate markets.
They added that many MSMEs operate informally because founders began their ventures as survival strategies, especially during the rise of online commerce after the pandemic, but failed to regularise operations or build strong business structures.
The program organizers said the initiative provides a pathway for MSMEs to restructure their businesses properly by offering guidance on bankable documentation, sustainable business frameworks and market expansion.
They emphasised that what many small businesses lack is not ideas but access to the right support systems that can help them build resilience, reduce operational pressure and position them for long-term success.
Financial sector representatives at the event noted that although funding is available within the system, many small businesses cannot access it because they do not have the documentation, governance structures or financial records required by lenders.
They added that MSMEs play a central role in employment and economic growth across the continent but remain constrained by poor infrastructure, regulatory complexities and a fragmented business environment.
Officials from the national MSME development agency praised the accelerator for contributing to grassroots enterprise growth, noting that the country needs more targeted interventions to drive MSME development.
They said a collective effort involving government, private institutions and development partners is essential to strengthen the small business ecosystem and move from policy declarations to concrete action that supports enterprise success.
