UN Agencies Drum Support for Adequate Investment in MSMEs

UN Agencies Drum Support for Adequate Investment in MSMEs

By: Michael Mike

The United Nations (UN) agencies in Nigeria have hammered on the need for adequate investment in the development of Micro, Small and Medium sized Enterprises (MSMEs) to advance economic growth in the country.

The agencies disclosed this during the commemoration ceremony of the 2025 MSMEs Day on Monday in Abuja.

The event was jointly organised by the United Nations Industrial Development Organisation (UNIDO), International Labour Organisation (ILO), United Nations Development Programme (UNDP), United Nations Information Centre (UNIC) and World Intellectual Property Organisation (WIPO).

Director, UNIDO Sub-regional Office, Abuja, Mr. Philbert Johnson, who was represented by National Programme Officer at UNIDO, Mr. Reuben Bamidele,, said that MSMEs role in nation building cannot be underestimated, therefore the need for adequate investment to ensure their sustainable growth is of uppermost importance.

Johnson said: “We are gathered together today to discuss proper ways to promote innovation and growth within the MSMEs sector.

“In Nigeria, as we know not less than 40million MSMEs are making huge contribution to the economic growth of the country, by providing employment and serving as means of livelihood for people.

“MSMEs, thereby, contribute to the growth of Gross Domestic Products across sectors of the country’s economy. We gathered to dissect the challenges MSMEs face and also, to work closely together towards achieving sustainable growth.”

The ILO Country Representative, Dr Vanessa Phala, stressed the need for strategic measures to be taken to bolster MSMEs impact on the nation’s economy.

Phala, who was represented by ILO’s National Project Coordinator for the Social Dimension of Ecological Transition, Stephen Agugua, said: “We look at how MSMEs can drive the future of the economy through job creation and employment. When you think of job creation and employment that is where ILO comes in.

“MSMEs are key to the growth of every economic sphere: Through this dialogue platform ILO will know the challenges MSMEs are facing and look at pathways for ensuring sustainable solutions collectively.”

The UNDP Deputy-Director, Ms Varsha Redkar-Palepu, represented the National Programme Specialist and Trade Focal Point at UNDP by Claire Henshaw,, described MSMEs as pivotal to nation building.

She noted that MSMEs form the foundation of inclusive and sustainable development in Nigeria, “MSMEs are vital engines for job creation, innovation and social mobilisation, particularly for women and youths. While operating on margins of formal economic systems, we need to put MSMEs at the centre of our development.

“In Nigeria and across Africa, MSMEs holds the key to transforming economic opportunities to meaningful development and the ambition into tangible outcomes,” Phala said.

On his part, Managing-Director of Prohealth, a private organisation, Dr Chinedu Nnabuihe who spoke on behalf of the Nigeria Employers’ Consultative Association (NECA), commended the UN agencies for putting the event together.

According to him, the event is dedicated to the invaluable role MSMEs play in advancing innovation, creating jobs, increasing inclusive and sustainable economic growth across the country.

“In Nigeria, MSMEs are the engine of our economy, driving local production, supporting livelihood and contributing significantly to national GDPs. This is amidst challenges posed by economic situation, limited access to finance and infrastructure.
“Nigeria MSMEs have continued to demonstrate resilience, creativity and determination. At NECA we remain steadfast in our commitment to fostering an enabling environment in supporting MSMEs development,” Nnabuihe said.

The event attracted stakeholders from Small and Medium Enterprises Development (SMEDAN), Nigerian Association of Small Scale Industrialists (NASSI), Nigeria Association of of Small and Medium Enterprises (NASME) and Corporate Affairs Commission (CAC).

Others include, National Insurance Commission (NICOM), Nigeria Social Insurance Trust Fund (NSITF) and Abuja Chambers of Commerce and Industry (ACCI).

Highpoint of the event was visit by the stakeholders to the exhibition stand of MSMEs, overview of UNDP engagement with MSMEs, government agencies’ engagement with MSMEs and WIP-intellectual property for MSMEs.
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