Experts are calling for enhanced support for micro, small, and medium enterprises (MSMEs) to easily navigate challenges and drive economic growth and development.
During the MBA Business Shower Cohort 2 graduation in Lagos, experts urged ministries and agencies to join forces with the private sector to accelerate sustainable SME growth nationwide.
Desola Jimmy-Eboma, founder and convener of the Small-Scale Enterprises Lab (SSE Lab), underscored the pivotal role of the private sector, particularly SMEs, which constitute 80 percent of all active businesses in the country.
According to her, SMEs are the backbone of the nation’s economy, providing millions of jobs. To unlock this potential, she outlined a comprehensive plan designed to facilitate the development of SMEs, especially innovative startups.
The plan focuses on enhancing competitiveness in value chains, advancing digital transformation, and championing transition.
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She explained that “Nigeria has enormous potential locked within her people. If every state intentionally develops its local resources into finished goods by turning cassava into packaged flour, hibiscus into export tea, and shea butter into global beauty products, we can transform our economic narrative.”
Speaking on the MBA Business Showers, she said it has rapidly become a leading platform spotlighting innovation and entrepreneurial excellence in Nigeria’s small-scale manufacturing sector.
Powered by SSE Lab, she noted that the initiative bridges the gap between vision and venture by equipping founders with practical structure, market-ready knowledge, and strategic support to thrive in today’s dynamic economy.
“The Manufacturing Business Accelerator (MBA) is a 90-day intensive transformation program tailored for product-based founders and micro-manufacturers. “
“Over three months, participants progress through a disciplined pathway of conceptualisation, product validation, branding, packaging, regulatory compliance, and market launch, transforming raw ideas into proudly made-in-Nigeria brands capable of competing globally.”
“Through the MBA Business Shower, we have built entrepreneurs who can make vision real because we have seen ordinary individuals like traders, artisans, and dreamers become structured, compliant, export-ready businesses within 90 days. This is a statement of possibility.”
Charles Odii, director-general of the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), hailed the MBA initiative and its success, saying the economy needs more ideas like this that will drive MSME growth.
The DG, who was represented by Olukayode Shode, SMEDAN Southwest Coordinator, said collective effort from the government, individuals and corporate bodies is needed to support MSME.
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“We must go beyond mere words and move to action to develop the MSME Ecosystem. The more we put hands on deck, the more we can achieve for MSMEs in Nigeria,” he said.
In her keynote note address, Esther Obiekwe, head of retail and SME banking, Nova Bank, said that SMEs operators in the country face numerous challenges despite their potential, noting that they need to be supported to navigate these hurdles.
She stated that SMEs need to be supported to help them matter more to the economy through innovation, inclusion and impact.
“Innovation is no longer about technology alone. It is about thinking differently – reimagining how we solve local problems with local resources,” she said, noting that inclusion is the bridge between potential and participation.
She stressed that impact must be measured and must go beyond the bottom lines, saying “every MSME we empower represents jobs created, families sustained and communities transformed.”
