UN agencies urge Nigeria greater investment in MSMEs

The UN agencies in Nigeria have emphasised the need for greater investment in the development of micro, small and medium-sized enterprises to drive inclusive economic growth in the country. The call was made during the commemoration of the 2025 International MSMEs Day on Monday in Abuja. The UN Industrial Development Organisation, the International Labour Organisation, the UN Development Programme, the UN Information Centre, and the World Intellectual Property Organisation jointly organised the event. Philbert Johnson, director at UNIDO Sub-regional Office, Abuja, said MSMEs play an important role in nation-building and must be supported to grow sustainably. “We are gathered today to explore ways of promoting innovation and strengthening growth within the MSME sector.
“In Nigeria, no fewer than 40 million MSMEs contribute significantly to the country’s economic development by providing employment and sustaining livelihoods. MSMEs also play a vital role in boosting GDP across sectors,” he said. Vanessa Phala, ILO country director, said the ILO remains committed to supporting job creation through MSMEs. “MSMEs are at the centre of economic development. Through this platform, the ILO is engaging with stakeholders to identify challenges facing MSMEs and develop practical, sustainable solutions,” she said. UNDP deputy director Varsha Redkar-Palepu outlined MSMEs as crucial to Nigeria’s development.
“MSMEs are engines of job creation, innovation and social inclusion, especially for women and young people. They must be placed at the heart of our development agenda to transform opportunities into tangible outcomes,” Ms Redkar-Palepu said. Chinedu Nnabuihe, ProHealth’s managing director, who spoke on behalf of the Nigeria Employers’ Consultative Association, commended the UN agencies for convening the dialogue. He said the event recognised the vital role of MSMEs in fostering innovation, creating employment, and sustaining economic growth. “In spite of challenges such as limited access to finance, infrastructure, and economic constraints, Nigeria’s MSMEs have continued to show resilience, creativity and determination,” Mr Nnabuihe said. He reaffirmed NECA’s commitment to supporting policies and programmes that promote the growth of MSMEs in Nigeria. (NAN)