Nigeria's MSMEs Create 60 Million Jobs, VP Shettima Says

The single sharpest fact in one or two punchy sentences. Who did what, where, when, and why it matters. Not a summary of everything — the one thing that makes someone stop scrolling. A reader who only reads this paragraph must understand what happened.

Vice President Kashim Shettima on Saturday in Abuja said that 90% of Nigerian businesses are micro, small and medium-sized enterprises (MSMEs). He added that the enterprises are the largest employers of labour in the country, providing jobs for 60 million Nigerians. The Vice President spoke during the 8th National MSME Awards Abuja, which was attended by several winners of the awards and other dignitaries.

So, what exactly are MSMEs? According to the Vice President, MSMEs are the backbone of the country's economy, providing a significant number of jobs and contributing to the country's economic growth. And, as the name suggests, they are small businesses that are owned and operated by individuals or families. These businesses can be found in various sectors, including agriculture, manufacturing, and services.

Senator Shettima, who is a key figure in the Tinubu administration, noted that the government is committed to supporting MSMEs by providing them with access to finance, markets, and technology. He said that the administration is building an entire ecosystem that nurtures innovation, provides essential infrastructure, and removes barriers that have historically held back small businesses in Nigeria.

The Vice President also highlighted some of the successes recorded by the administration in supporting MSMEs. He said that the Expanded National MSME Clinics have partnered with state governments to bring the clinics across all 6 geopolitical zones. The clinics have enabled small business owners to engage directly with regulatory agencies, financial institutions, and business support organisations while receiving on-the-spot solutions to their challenges.

The government has also institutionalised 21 state-of-the-art shared infrastructure facilities, providing affordable access to high-speed internet, modern machinery, and collaborative spaces. These facilities have supported the creation of 650,000 jobs, the Vice President said. On the question of financial access, the administration has moved with deliberate force, providing over ₦874 billion in financing to approximately 751,000 women- and youth-led MSMEs.

The Vice President ended on a positive note, urging winners of the awards and every Nigerian entrepreneur to keep building. He assured them of the government's support, saying that Nigeria needs their ideas, their jobs, and their leadership.

The 8th National MSME Awards Abuja is a key expression of the broader commitment to the administration's Renewed Hope Agenda. The awards have recognised and rewarded over 50 verified small business owners for their outstanding contributions to the economy.

The National MSME Awards is a testament to the government's commitment to supporting MSMEs and creating an enabling environment for them to thrive and prosper. The awards are a key tool in promoting entrepreneurship and innovation in Nigeria, and they provide a platform for small business owners to showcase their products and services.

The Tinubu administration's support for MSMEs is a key driver of the country's economic growth. By providing access to finance, markets, and technology, the government is helping to create a more conducive business environment that is conducive to entrepreneurship and innovation.

In his remarks, the special adviser to the president on job creation and MSME, Mr Temitola Adekunle-Johnson, said the 2026 edition of the awards was special as it recognised the efforts of persons living with disabilities.

The 8th National MSME Awards Abuja was attended by several winners of the awards and other dignitaries. The event was a celebration of the success of small business owners in Nigeria and a testament to the government's commitment to supporting them.

The book 'Building Nigeria, Empowering MSMEs: A Compendium of the Federal Government's Initiatives and Interventions for Nigerian MSME Growth' was launched during the event. The Vice President explained that many of the administration's efforts to support MSMEs are carefully documented in the book.

The book stands as a faithful record of President Tinubu's commitment to the prosperity of Nigerian enterprise and a guide for all who wish to understand the work undertaken by the administration. The book provides a comprehensive overview of the government's initiatives and interventions for MSME growth in Nigeria.