Vice President Kashim Shettima has reaffirmed the Federal Government’s unwavering commitment to empowering Micro, Small, and Medium Enterprises (MSMEs), stating that deliberate efforts are underway to position Nigerian businesses for competitiveness across the African continent.
Speaking at a recent high-level engagement on economic cooperation, the Vice President declared that Nigeria is not only nurturing local enterprises but actively building strategic “bridges” to connect them with wider opportunities under the African Continental Free Trade Area (AfCFTA).
“Our mission is clear — to create a robust support framework that helps Nigerian MSMEs expand beyond domestic limits and tap into the vast African market,” Shettima said. “We are building the infrastructure, removing the barriers, and fostering partnerships that will make our small businesses global players on the African stage.”
According to the Vice President, MSMEs account for over 90% of businesses and employ about 60 million people in Nigeria. He noted that harnessing their potential is pivotal to achieving inclusive economic growth, reducing poverty, and enhancing regional integration.
He highlighted ongoing reforms aimed at improving access to finance, digitizing regulatory processes, expanding power and logistics infrastructure, and encouraging innovation through skills development and startup incubation. “We are aligning our policies with the realities of a borderless African economy, so our entrepreneurs can compete and thrive wherever the opportunity exists,” he added.
The administration’s MSME-focused initiatives, Shettima said, also draw support from collaborations with development finance institutions, the Bank of Industry (BOI), and regional trade facilitation bodies, ensuring that Nigerian businesses are not just prepared, but empowered to scale.
As Africa’s largest economy and most populous nation, Nigeria’s leadership in cross-border MSME growth is seen as essential to the broader success of the AfCFTA — a single market expected to unlock over $3.4 trillion in economic activity.
“We are not just talking trade — we are activating a new era of economic diplomacy led by Nigerian entrepreneurs,” VP Shettima concluded.
