MSMEs Account for 90% of Nigerian Businesses, Employ Over 60 Million People – Shettima

Vice President Kashim Shettima has said Micro, Small and Medium Enterprises (MSMEs) account for 90 per cent of all businesses in Nigeria and provide employment for more than 60 million people, describing the sector as the backbone of the nation's economy.

Shettima made the disclosure on Saturday at the 8th National MSME Awards in Abuja, where he was represented by the Deputy Chief of Staff to the President, Ibrahim Hadejia.

According to the Vice President, MSMEs remain the country's largest employers of labour, driving economic growth, creating jobs and improving livelihoods across communities.

"Ninety per cent of all Nigerian businesses are MSMEs. They are the largest employers of labour in this country, providing jobs for over 60 million of our people.

"Through bold and innovative ideas, and through sweat and courage, our MSMEs are improving the livelihoods of Nigerians and transforming our communities through the prosperity they create," he said.

Shettima said the administration of President Bola Ahmed Tinubu is committed to building a sustainable, enterprise-driven economy where opportunities are more widely distributed.

He explained that the government's vision extends beyond providing grants and loans, focusing instead on creating an enabling environment that supports innovation, removes barriers to business growth and expands economic opportunities.

According to him, the Expanded National MSME Clinics, introduced in 2023, have partnered with state governments to provide direct engagement between entrepreneurs, regulatory agencies, financial institutions and business support organisations across Nigeria's six geopolitical zones.

He said the initiative has helped business owners resolve regulatory and operational challenges while improving access to essential services.

The Vice President disclosed that the Federal Government has established 21 Shared Infrastructure Facilities across the country, providing affordable access to high-speed internet, modern production equipment and collaborative workspaces.

He said the facilities, which include digital innovation hubs and shared production centres for sectors such as fashion and manufacturing, have contributed to the creation of 650,000 jobs.

On access to finance, Shettima highlighted several government intervention programmes aimed at supporting entrepreneurs.

According to him, the government has provided:

N75 billion MSME Intervention Fund

N50 billion Presidential Conditional Grant Scheme

N874 billion disbursed through the Development Bank of Nigeria to approximately 751,000 women- and youth-led MSMEs

More than N394.88 billion in financing through the Nigerian Export-Import Bank (NEXIM) for export-oriented businesses.

He also said over 165,000 artisans have received training and support under the Skill-Up Artisans Programme.

The event also featured the launch of a new publication titled "Building Nigeria, Empowering MSMEs: A Compendium of the Federal Government's Initiatives and Interventions for Nigerian MSME Growth," authored by the President's Special Adviser on Job Creation and MSMEs, Temitola Adekunle-Johnson.

Shettima described the publication as a comprehensive record of the Federal Government's interventions designed to strengthen Nigeria's small business sector.

Earlier, Adekunle-Johnson said this year's awards placed special emphasis on recognising entrepreneurs living with disabilities while celebrating innovation and creativity across different sectors of the economy.

Director-General of the Standards Organisation of Nigeria (SON), Dr Ifeanyi Okeke, disclosed that 13,859 entries were received nationwide, with winners emerging from sectors including agriculture, information technology, manufacturing, furniture and the creative industry after a rigorous selection process.

Speaking after the ceremony, Minister of Information and National Orientation, Mohammed Idris, said the awards demonstrate the Federal Government's commitment to positioning MSMEs as the foundation of Nigeria's economic growth under the Renewed Hope Agenda.

He said the recognition of outstanding entrepreneurs reflects the administration's determination to create an environment where businesses can flourish, generate employment and contribute meaningfully to national development.

The ceremony ended with the presentation of awards and prizes to winners of the 2026 National MSME Awards, alongside the official unveiling of the government's MSME intervention compendium.