The federal government is making moves to boost the productivity of micro, small and medium enterprises (MSMEs) to power the country’s industrial growth through the establishment of energy corridors.
John Enoh, Minister of State for Industry, Trade &Investment made this known on Wednesday in Lagos at the 11 annual Fate Institute Policy Dialogue Series on Entrepreneurship themed ‘From Enterprise to Industry: Unlocking MSME Potential for Nigeria’s Industrialisation.’
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Enoh affirmed that the country is working towards addressing the power challenge that is hindering growth and productivity for businesses, especially MSEMs while listing key pillars the new industrial policy is looking at.
“Through the National Nigeria Industrial Policy, 2025-2035, we’ve validated it and are waiting for approval, and we’re partnering with the Industrial Revolution Work Group,” he said in his keynote address.
“We’re working towards building dedicated industrial energy corridors, expanding energy generation and reducing energy costs to or for productive use,” the minister said.
He noted that affordable power is not a model but an oxygen that industries requires. ‘Therefore, we’re working towards the concept of indigenous and defined MSME financing windows.”
The minister added that the industrial policy is also going to address issues around finance for entrepreneurs, noting that the country cannot build an industrial economy if entrepreneurs cannot access the capital that requires growth.
He said the country in partnership with the African Development Fund is working towards implementing the Nigeria MSME Industrial Cluster Programme, describing the initiative as a bold and long-term investment in a productive economy.
“Through this programme, we are working towards transforming our existing MSME clusters into modern industrial hubs with power, roads, digital infrastructure, security financing, export, and market linkages,” he said.
In her opening remarks, Cecilia Akintomide, chairperson, 2025 PDS technical committee, and chairperson at The Sanitation and Hygiene Fund, said that as the country strives to diversify and grow, enhancing the efficiency and output of small businesses is crucial.
Akintomide noted that the theme speaks directly to one of the most important questions currently- How do we transform the energy, creativity and the resilience of Nigeria’s MSMEs into industrial capacity that drives jobs, productivity and long-term economic transformation?
“Industrialisation is not the work of one actor alone. It requires coherence across policy, coordination across institutions, and collaboration across sectors.”
“It requires financing that is fit for purpose, technology that drives efficiency, skills that strengthen production, and infrastructure that lowers the cost of doing business.
Most importantly, it requires us to see MSMEs not as small players, which is a mistake we all make. Small players on the margins, but as essential contributors to Nigeria’s industrial future,” she said.
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She appreciated members of the committee for the support and work towards the successful launch of the institute’s reports and dialogue series on entrepreneurship.
This theme speaks directly to one of the most important questions of our time.
How do we transform the energy, creativity, and resilience of Nigeria’s MSMEs into industrial capacity that drives jobs, productivity, and long-term economic transformation?
