UN urges greater investment in Nigeria’s MSMEs

The UN agencies in Nigeria have emphasised the need for greater investment in the development of Micro, Small and Medium-sized Enterprises to drive inclusive economic growth in the country.

The call was made during the commemoration of the 2025 International MSMEs Day on Monday in Abuja.

The event was jointly organised by the UN Industrial Development Organisation, International Labour Organisation, UN Development Programme, UN Information Centre, and the World Intellectual Property Organisation.

Mr Philbert Johnson, Director, UNIDO Sub-regional Office, Abuja, represented by Mr Reuben Bamidele, National Programme Officer at UNIDO, said MSMEs play an important role in nation-building and must be supported to grow sustainably.

We are gathered today to explore ways of promoting innovation and strengthening growth within the MSME sector.

“In Nigeria, no fewer than 40 million MSMEs contribute significantly to the country’s economic development by providing employment and sustaining livelihoods. MSMEs also play a vital role in boosting GDP across sectors,” he said.

Dr Vanessa Phala, ILO Country Director, represented by Mr Stephen Agugua, National Project Coordinator for the Social Dimension of Ecological Transition, said the ILO remains committed to supporting job creation through MSMEs.

MSMEs are at the centre of economic development. Through this platform, the ILO is engaging with stakeholders to identify challenges facing MSMEs and develop practical, sustainable solutions,” she said.

Ms Varsha Redkar-Palepu, UNDP Deputy Director, represented by Ms Claire Henshaw, National Programme Specialist and Trade Focal Point at UNDP, outlined MSMEs as crucial to Nigeria’s development.

“MSMEs are engines of job creation, innovation, and social inclusion, especially for women and young people.