NECA Urges MSMEs to Adopt ESG for Sustainable Growth

Mr. Adewale Smatt Oyerind, Director General of the Nigeria Employers' Consultative Association (NECA), spoke at the official launch of the Environmental, Social, and Governance (ESG) implementation guidelines for micro, small, and medium enterprises (MSMEs) in Nigeria on a Friday in Lagos. He advised that embracing ESG principles is crucial for businesses, particularly MSMEs, to improve competitiveness and attract investment, especially during challenging economic times.

Oyerind acknowledged the regulatory challenges faced by MSMEs and stressed that ESG is no longer optional but a necessary requirement for sustainable business success. He noted that large corporations have more resources to navigate ESG requirements, while MSMEs often struggle to understand and implement these principles cost-effectively.

The guidelines were developed in collaboration with the International Labour Organisation to provide clear guidance for MSMEs to identify relevant ESG risks and opportunities, ultimately improving their access to financial markets. Oyerind reiterated that integrating ESG into operations can unlock value and enhance investment attractiveness.