Stakeholders Push for MSME Growth Collaboration in Nigeria

Stakeholders in Nigeria are urging for enhanced collaboration among government agencies, financial institutions, and the private sector to unlock the growth potential of micro, small, and medium enterprises (MSMEs). This call was made during the inaugural Lapo SME Connect event, organized by Lapo Microfinance Bank in collaboration with the Association of Small Business Owners Nigeria (ASBON) and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN).

Cynthia Ikponmwosa, Managing Director and Chief Executive Officer of Lapo Microfinance Bank, emphasized that access to finance alone is insufficient for entrepreneurs, who also require the right knowledge, skills, and networking opportunities to build resilient businesses. Dr. Olufemi Egbesola, President of ASBON, echoed the need for stronger partnerships to create an enabling environment for small businesses, advocating for improved access to finance and enterprise development programs.

Tosin Abajo from SMEDAN reiterated the importance of collaboration for enterprise growth, highlighting the necessity of business development support and capacity building alongside financial access.