Sunday Ehigiator
Stakeholders have called for stronger collaboration among government agencies, financial institutions and the private sector to unlock the growth potential of Nigeria’s Micro, Small and Medium Enterprises (MSMEs), stressing that access to finance alone is insufficient to drive sustainable business growth.
The call was made at the maiden edition of LAPO SME Connect 1.0, organised by LAPO Microfinance Bank in collaboration with the Association of Small Business Owners of Nigeria (ASBON) and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) to commemorate the 2026 World MSME Day.
Speaking at the event, the Managing Director and Chief Executive Officer of LAPO Microfinance Bank, Cynthia Ikponmwosa, said entrepreneurs require much more than funding to build resilient businesses.
“At LAPO Microfinance Bank, we recognise that access to finance alone is not enough. Entrepreneurs need the right knowledge, skills, networks and opportunities to build resilient businesses. Through initiatives like SME Connect, we are creating platforms that empower MSMEs to thrive, create jobs and contribute meaningfully to Nigeria’s economic development,” she said.
In his keynote address, National President of ASBON, Dr. Olufemi Egbesola, called for stronger partnerships among government, financial institutions and the private sector to create an enabling environment for small businesses through supportive policies, improved access to finance and enterprise development programmes.
Representing SMEDAN, Tosin Abajo emphasised that collaboration remains critical to enterprise growth, noting that entrepreneurs need business development support, formalisation, digital skills, market access and continuous capacity building alongside access to finance.
He said: “At SMEDAN, we remain committed to working with stakeholders to create an enabling environment where MSMEs can grow, innovate and contribute meaningfully to national development.”
