From Okwe Obi, Abuja
Minister of State for Industry, Senator John Enoh, has declared that 39 million micro and small-scale enterprises in the country contribute about 84 per cent of jobs.
He noted that the MSMEs have emerged as a veritable engine of economic development.
He stated this at the Global Entrepreneurship Congress (GEC) in Indianapolis, United States, where he said that Nigeria had secured strategic bilateral agreements.
He reaffirmed Nigeria’s commitment to entrepreneurship-led industrial transformation.
Conveying President Bola Ahmed Tinubu’s goodwill in an address to global ministers and innovation leaders at the ministerial plenary, the Minister highlighted Nigeria’s strategic push to reposition Micro, Small, and Medium Enterprises (MSMEs) as the engine of economic diversification, job creation, and inclusive growth.
He added: “With over 39 million MSMEs contributing 84 percent 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.”
Enoh showcased Nigeria’s robust reforms under the ‘Nigeria Startup Act’, the development of Industrial Hubs across states, and the roll-out of strategic interventions such as the Syndicated De-risked Loan Scheme, ₦1.3 trillion in MSME disbursements through the BOI, and SMEDAN’s ecosystem-building efforts including solarized innovation centres and digital enterprise programmes.
He also spotlighted Nigeria’s digital ascendancy, referencing the global success of Nigerian startups like Flutterwave which is now valued at over US$3 billion dollars as a compelling example of what is possible when entrepreneurship, regulation, and innovation intersect.
Beyond the plenary, Senator Enoh led Nigeria’s delegation in a series of productive bilateral meetings with key global institutions and counterparts.
He sealed MSME competitiveness and innovation partnerships with the United Nations Conference on Trade and Development (UNCTAD) and metrics and policy benchmarking for Nigeria’s industrial ecosystem with the Organization for Economic Cooperation and Development (OECD).
Beyond the United States of America, the Minister is also seeking partnerships with Algeria, Brazil, and Indonesia to deepen South-South cooperation and explore joint SME development frameworks.
Enoh explained that the engagements underscore Nigeria’s leadership in shaping Africa’s voice on global entrepreneurship while forging alliances to access technical support, capacity-building programmes, and cross-border investment opportunities.
The Minister submitted that Nigeria stands ready in its commitment to partnering with global allies to empower MSMEs, unlock digital trade opportunities, and catalyze industrial advancement.
He disclosed that under the leadership of President Tinubu, Nigeria is ready to scale new heights in positioning entrepreneurship as a cornerstone of its economic renaissance.