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The Federal Government has reaffirmed its commitment to entrepreneurship-driven industrial transformation to position Micro, Small, and Medium Enterprises (MSMEs) as the foundation for economic diversification, job creation, and inclusive growth.
Nigeria made a commitment at the 2025 Global Entrepreneurship Congress (GEC) and the high-level Startup Nations Ministerial in Indianapolis, United States.
John Owan Enoh, Minister of State for Industry, Trade and Investment, while representing the Federal Government at the event, conveyed the excitement of Nigeria to the international audience of ministers, policymakers, and innovation leaders.
In his address at the Ministerial plenary, the minister emphasised Nigeria’s resolve to position Micro, Small, and Medium Enterprises (MSMEs) as the foundation for economic diversification, job creation, and inclusive growth.
“With over 39 million MSMEs contributing 84 per cent of Nigeria’s total employment, we are not merely supporting small businesses — we are investing in national resilience and the architects of our economic future,” Senator Enoh said.
Senator Enoh highlighted the major reforms and initiatives undertaken by the Nigerian government to support the MSME sector. These include the implementation of the Nigeria Startup Act, the establishment of Industrial Hubs across various states, and strategic financing mechanisms like the Syndicated De-risked Loan Scheme.
He also noted that over ₦1.3 trillion has been disbursed to MSMEs through the Bank of Industry (BOI), while SMEDAN (Small and Medium Enterprises Development Agency of Nigeria) continues to drive ecosystem development through solar-powered innovation centres and digital enterprise programs.
The Minister further cited the international success of Nigerian fintech giant Flutterwave, now valued at over $3 billion, as evidence of the country’s growing global stature in the digital innovation space. “This is what becomes possible when entrepreneurship meets enabling regulation and forward-looking innovation,” he said.
On the sidelines of the congress, Senator Enoh led Nigeria’s delegation in a series of strategic bilateral meetings with global institutions and country counterparts. Discussions focused on enhancing MSME competitiveness, innovation partnerships, and developing measurable benchmarks for Nigeria’s industrial ecosystem.
In a significant development, the Ministers of Industry and Trade from Algeria, Brazil, and Indonesia committed to strengthening South-South cooperation and working with Nigeria on joint SME development frameworks. These engagements, Senator Enoh noted, are vital in accessing technical support, capacity-building opportunities, and cross-border investments.
“Nigeria is not only contributing to global conversations on entrepreneurship — we are helping to shape the narrative from an African perspective,” he said.
The Federal Ministry of Industry, Trade and Investment has reiterated its dedication to advancing President Bola Ahmed Tinubu’s vision of an inclusive and innovation-led economy. With entrepreneurship placed at the heart of national industrial strategy, the Ministry says it remains open to global partnerships that empower small businesses, unlock digital trade, and spur sustainable economic advancement.
“Nigeria is ready to scale new heights,” Senator Enoh declared.
“Our entrepreneurs are ready. Our policies are bold. And our ambition is clear — to make Nigeria a global model for entrepreneurship-led development.”
The 2025 Global Entrepreneurship Congress provided a strategic platform for Nigeria to project its leadership, deepen international cooperation, and attract meaningful collaboration in driving the MSME sector as a pillar of economic renewal
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