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).
The maiden edition of the forum brought together entrepreneurs, policymakers, regulators, development partners and business leaders to discuss practical solutions to the challenges confronting MSMEs. Speakers identified access to finance, business formalisation, digital transformation, capacity building and strategic partnerships as critical enablers of sustainable enterprise growth.
The call was made at 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/Chief Executive Officer of LAPO Microfinance Bank, Cynthia Ikponmwosa said sustainable MSME growth requires more than financing, stressing the need for capacity building, business advisory services and strategic partnerships.
She said, “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.
“In his keynote address, Dr. Olufemi Egbesola, National President of ASBON, called for stronger partnerships among government, financial institutions and the private sector to create an enabling environment for small businesses through supportive policies, access to finance and enterprise development programmes.
Representing SMEDAN, Tosin Abajo said collaboration is essential to enterprise growth, noting that entrepreneurs require business development support, formalisation, digital skills, market access and continuous capacity building in addition to finance.
“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,” he said.
The event featured panel discussions on business formalisation, access to finance, digital transformation and business sustainability, alongside an exhibition that enabled entrepreneurs to showcase their products, network and access business advisory support.
LAPO Microfinance Bank said SME Connect is part of its commitment to deepening financial inclusion and supporting Nigeria’s MSMEs through innovative financial solutions, strategic partnerships and enterprise development initiatives.
