NECA Advocates for Supportive Environment to Propel MSMEs, Accelerate Nigeria’s Economic Growth
The Nigeria Employers’ Consultative Association (NECA) has emphasized the importance of creating a conducive environment—comprising improved infrastructure, accessible financing, and capacity-building initiatives—to stimulate the growth of Micro, Small, and Medium Enterprises (MSMEs). This position was articulated by NECA Treasurer Richard Ayibiowu during the annual MSMEs Fair held on May 6, 2025, at NECA House in Alausa, Lagos.
The MSMEs Fair, a flagship event aimed at empowering startups and small businesses with practical strategies for sustainable growth, seeks to help entrepreneurs scale their operations and contribute meaningfully to the economy. Ayibiowu highlighted that implementing ideas generated from industry dialogue could stabilize the economy and foster growth, especially if supported by sustained policy actions.
Under the theme “Galvanising MSMEs for Economic Growth and Stability,” Ayibiowu urged stakeholders to recognize and harness the potential of MSMEs, emphasizing that their capacity to innovate and expand must be nurtured through long-term investments by both public and private sectors. He called for a shift in mindset—viewing support measures such as grants and non-commercial assistance as vital components of sustainable development rather than mere financial transactions.
In her keynote address, Adenike Adeyemi, Managing Director of Fate Foundation, underscored the necessity of a favorable operating environment for MSMEs. She noted that Nigeria’s economic progress hinges on the active participation of MSMEs, which can only be achieved through strong policy frameworks that ensure access to infrastructure, financial guidance, and ongoing government support.
Adeyemi stressed that capacity building is integral for MSMEs aiming to scale and foster inclusive growth. She called on stakeholders to adopt innovative and diverse schemes that genuinely support MSMEs over the long term, viewing their development as a strategic investment rather than solely a commercial opportunity.
Additionally, Ms. Vanessa Phala-Moyo, Country Director of the International Labour Organisation (ILO), emphasized the importance of upholding human rights within MSMEs. She called for diligent efforts to eliminate child labor and other human rights violations, asserting that respecting workers’ rights is essential for sustainable economic transformation and inclusive development.