FG and Access Bank Promote AI for MSME Growth

The Federal Government and Access Bank Plc underscored the strategic importance of Artificial Intelligence (AI) and digital financial infrastructure in expanding Micro, Small, and Medium Enterprises (MSMEs) during the Access Bank MSME Digital Growth Conference held on Friday at the bank’s head office in Victoria Island, Lagos. The conference, themed “AI for SMEs: Scaling Through Digital Tools,” coincided with the launch of the Access SME Application.

Chalya Shagaya, the Senior Special Assistant to the President on Entrepreneurship Development in Communications, Innovation and Digital Economy, stated that small enterprise operators are vital for achieving Nigeria’s macroeconomic goals under the Renewed Hope Agenda. Shagaya encouraged business owners to adopt digital tools, highlighting AI's role in automating operations and reducing costs.

She revealed that President Bola Tinubu signed an AI Policy to establish capacity-building hubs for young entrepreneurs. Prof Sunday Adebisi from the University of Lagos Business School presented data showing that MSMEs contribute 84% of total employment and 48% of GDP in Nigeria.