The Nigeria Employers’ Consultative Association (NECA) has identified inadequate funding and inconsistent government policies as major constraints to the growth of Micro, Small and Medium Enterprises (MSMEs) in the country.
Speaking at the NECA MSMEs Fair ’25 South-East Edition in Enugu on Tuesday, the President of NECA, Dr. Ifeanyi Okoye, said small business owners continue to face structural challenges including poor access to infrastructure, unreliable power supply, and limited credit facilities.
According to him, unstable policy directives remain a critical setback for entrepreneurs.
“Somebody will come today and say these people will not pay tax, tomorrow, another person will come and say they should start paying tax. Another will come and say collect one naira, and another tomorrow will say collect three naira. All these are affecting businesses,” Okoye said.
He explained that the fair was designed as part of NECA’s collective commitment to strengthening MSMEs, which he described as the “backbone of the Nigerian economy.”
MSMEs, he noted, account for over 90 per cent of businesses in Nigeria, employ millions, and contribute significantly to the country’s GDP.
“This fair is more than an exhibition. It is a call to action. The role of MSMEs cannot be overemphasised—they are the true drivers of resilience and innovation in the economy,” he added.
Okoye urged policymakers, financiers, innovators, and entrepreneurs to work together to unlock the full potential of the sector.
“Through networking, investment linkages, policy engagement and knowledge sharing, NECA is committed to building an enabling environment where businesses can thrive, compete and sell,” he said.
Also speaking, NECA’s Director-General, Mr. Adewale-Smatt Oyerinde—represented by the association’s Director of Legal, Mr. Thompson Akpabio—stressed the need for entrepreneurs to embrace collaboration to scale their businesses.
“So, you can’t stand on your own. You need vendors, other entrepreneurs and several other people to thrive,” he said.
Delivering the keynote, Dr. Emerie Agunwah, emphasised that MSMEs must design business models aligned with their industries for growth and sustainability.
Similarly, sales and automation strategist, Dr. Jay Ugwu, said many MSMEs fail due to poor adaptability to economic changes, urging entrepreneurs to remain agile and innovative.
