By Alex Enebeli
The Nigeria Employers’ Consultative Association (NECA) has identified funding and inconsistent policies as challenges affecting the growth of Micro, Small and Medium Enterprises (MSMEs) in Nigeria.
The President, NECA, Dr Ifeanyi Okoye, said this on Tuesday during NECA MSMEs Fair ’25 South-East Editions in Enugu.
The theme of the fair was: “Galvanising MSMEs For Economic Growth and Stability. ”
Okoye said that most small business owners in Nigeria were faced with various challenges including power, access to needed infrastructure and credit facilities to grow and survive their businesses.
“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 up and say collect one Naira and another person will come tomorrow and say, collect three Naira, all these are affecting businesses, ” Okoye said.
He said the fair was organised as confirmation of the collective commitment by stakeholders in strengthening MSMEs which were the backbone of the Nigerian economy.
He explained that NECA-MSME fair was launched as a platform to spotlight the immense contributions of MSMEs to national development and provoking discussions on how to support the sector.
According to him, with the southeast fair, the association seeks to deepen collaboration, empower entrepreneurs and provide opportunities for growth.
Okoye noted that the role of MSMEs could not be over-emphasised, adding that it represented over 90 per cent of businesses in Nigeria, employing millions and contributing significantly to the GDP.
The president added that MSMEs remained the true drivers of resilience and innovation in the economy.
‘This fair, therefore, is more than an exhibition, it is a call to action, ” he said.
Okoye called on policymakers, financiers, innovators, and entrepreneurs to join forces in unlocking the full potential of “this vital sector.”
“Through networking investments, linkage, policy engagement, and knowledge sharing, NECA is committed to building an enabling environment where businesses can thrive, compete, and sell,” Okoye said.
Mr Adewale-Smatt Oyerinde, the Director General of NECA, represented by the Director of Legal, Mr Thompson Akpabio, said that for businesses to grow, it must be linked to line of changes.
He urged business owners to think out of the box to grow their businesses.
“So, you can’t stand on your own. You need vendors, other entrepreneurs and several other people to thrive,” he said.
The keynote Speaker, Dr Emerie Agunwah, urged business owners to design their businesses in such a way that they understood the industry for proper management and growth of their businesses.
Speaking also, a Consultant, Sales and Automated Strategist, Dr Jay Ugwu, stressed that many MSMEs failed in Nigeria due to their inability to adapt to economic changes.
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