Over 115,000 MSMEs access $200m funding support – FG

The Federal Government has intensified plans to scale up the development of Micro, Small, and Medium Enterprises in 2026, following the disbursement of $200m to small businesses and exporters in 2025.

Through the Federal Ministry of Industry, Trade and Investment, the government said it would launch a National MSME Census to strengthen its database of operators, improve targeting of incentives, and deepen access to finance, after more than 115,000 MSMEs benefited from grants, loans, and trade finance interventions in the past year.

The MSME Census in 2026 is part of efforts to boost small business financing, strengthen data integrity, and accelerate industrial planning.

In the Federal Ministry of Industry, Trade and Investment Outlook 2026, the government noted that the country disbursed $200m in funding to MSMEs and exporters and expanded access to finance for over 115,000 small businesses.

“In 2025, $200m was disbursed to MSMEs and exporters through the Bank of Industry and the Nigerian Export-Import Bank. In addition, more than 115,000 MSMEs received grants, loans, and trade finance through initiatives of BOI, NEXIM, and the Nigerian Export Promotion Council,” it read.

The ministry said the National MSME Census would replace estimates with verifiable data and provide a reliable backbone for industrial planning, targeted incentives, and measurable impact.

It identified the census as Priority 1 for 2026, under a broader reform agenda anchored on disciplined implementation, sub-national delivery, and closer integration of trade, investment, and industrial policy.

The Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, said 2025 marked a turning point in Nigeria’s trade and industrial trajectory. She said, “As we reflect on 2025, we recognise it as an inflection point in Nigeria’s trade, investment, and industrial journey, marked by deliberate execution, renewed confidence, and a Nigeria First approach to building a credible export economy.”

She added, “Guided by the Renewed Hope Agenda of His Excellency President Bola Tinubu, the ministry focused on delivery by strengthening facilitation, coordination, and outcomes.”

She noted that total capital importation reached approximately $21bn in the first 10 months of 2025, up from $12.3bn in 2024 and $3.9bn in 2023. “Investment outcomes reflected this execution focus. Total capital importation reached approximately $21bn in the first ten months of 2025,” the trade minister stated.

She explained that the ministry curated a pipeline of over $5bn in bankable projects, conducted more than 150 bilateral and investor engagements, convened five deal rooms and sector roundtables, and tracked over $50bn in signed commitments from presidential engagements, with about 25 per cent progressing towards implementation.

Oduwole said the ministry resolved around 50 investor bottlenecks to accelerate project execution timelines.

On trade, she disclosed that Nigeria recorded total trade of N113.03tn in Q1–Q3 2025, with exports valued at N66.16tn, up by over 11 per cent year-on-year, sustaining a positive trade balance. “In Q1–Q3 2025, Nigeria recorded total trade of N113.03tn, with exports of N66.16tn, up by over 11 per cent year on year, sustaining a positive trade balance,” Oduwole said.

She attributed the gains to the gazetting of Nigeria’s AfCFTA tariff schedule, the launch of an air cargo corridor to East and Southern Africa, and targeted support to over 100 MSMEs for export certification and market readiness.

Oduwole said non-oil exports exceeded $6bn, representing an 11 per cent year-on-year increase, while freight costs dropped by about 50 per cent and export processing times reduced to under 24 hours.

She noted that economic diversification accelerated under Priority 7 of the President’s Eight-Point Agenda, with the repositioning of the Nigeria Commodity Exchange delivering over 500 per cent growth in traded volumes and a 111 per cent increase in traded value in 2025.

The minister added that Nigeria ratified the AfCFTA Digital Trade Protocol, secured appointment as AfCFTA Digital Trade Co-Champion, launched the National Intellectual Property Policy, and won hosting rights for CANEX 2026 and the Intra-African Trade Fair 2027.

Looking ahead, she said the ministry would anchor its 2026 strategy on four reinforcing pillars: unlocking global and regional demand through trade facilitation; strengthening the domestic supply of exports; mobilising investment through policy coherence and execution; and leveraging data, digital infrastructure, and strategic communications.

Beyond the MSME census, the trade ministry listed women-led businesses and long-term finance as Priority 4 for 2026. The plan proposes dedicated financing frameworks for women-led industrial and MSME enterprises to address access to patient capital and integrate them into priority value chains.

The Minister of State for Industry, Mr John Enoh, said lessons from 2025 reinforced the urgency of strengthening MSME data and execution frameworks.

“Data gaps undermine good intentions. The absence of reliable MSME data constrained planning, targeting, and evaluation, reinforcing the urgency of a national MSME census,” Enoh said.

He observed that policy without execution architecture fails, stating, “Sector plans without ownership, sequencing, and monitoring do not translate into outcomes.”

Enoh stressed that engagement with industry players shaped the ministry’s direction, stating, “Industry trust is built through listening, not announcements. Engagements with manufacturers, MSMEs, and investors confirmed that credibility is built when policy reflects real constraints, not theoretical models.”

He warned against fragmentation across agencies and stakeholders, stating, “Fragmentation is the enemy of scale. Industrial progress is slowed when MDAs, states, financiers, and private actors operate in silos. Coordinated platforms like the Industrial Revolution Working Group proved essential.”

On inclusion, he said, “Inclusion is an economic imperative. Women-led enterprises show strong resilience and impact but face disproportionate barriers to long-term finance, a gap that must be addressed deliberately.”

Other priorities outlined in the 2026 agenda include the Made-in-Nigeria National Campaign, industrial cluster development, cotton, textile, and garment value chain transformation, AI and digital industrial governance, review of privatised industries, and the Industrial Revolution Working Group Ministerial Roundtable.(Punch)