Elizabeth Christopher, Abuja
Nigeria’s Vice President, Kashim Shettima, has reiterated the Nigerian Government’s commitment to bold economic reforms and the empowerment of Micro, Small, and Medium Enterprises (MSMEs) as central to the country’s renewed economic agenda.
Speaking as Special Guest of Honour at the 6th Annual Lecture of the Development Bank of Nigeria (DBN) in Abuja, the Vice President highlighted President Bola Ahmed Tinubu’s economic reforms, including the removal of fuel subsidy, the unification of the foreign exchange market, support for MSMEs and start-ups, infrastructure renewal, and enhanced global engagement.
“These reforms, though challenging, are crucial to repositioning Nigeria as an attractive investment destination and ensuring inclusive growth,” he said.
Represented by the Special Adviser to the President on Economic Affairs, Dr Tope Fasua, the Vice President emphasised the central role of MSMEs in national development, noting that they account for over 80% of employment and a significant share of Nigeria’s GDP.
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He praised ongoing initiatives such as the National Council on MSMEs, the Presidential Palliatives Programme, and various funding windows through DBN and the Bank of Industry, all designed to cushion economic shocks and strengthen business resilience.
“The theme of this year’s lecture, ‘Positioning Nigerian MSMEs for Growth in a Dynamic Policy Environment’, aligns perfectly with Mr President’s Renewed Hope Agenda,” Shettima noted. “MSMEs are not peripheral actors; they are the lifeblood of our economy.”
He applauded the DBN’s consistency in convening thought leaders, policymakers, and entrepreneurs to shape the future of Nigerian enterprise, and commended the bank for its impressive track record over the past seven years.
Citing its strong corporate governance structure, rigorous monitoring of Participating Financial Institutions (PFIs), and international recognition from development partners including the World Bank, African Development Bank, and European Investment Bank, he said:“Your achievement over the past 7 years of your operation deserves a great deal of commendation.”
VP Shettima stressed that DBN’s achievements align with the administration’s broader economic transformation goals and called on stakeholders to unite public policy, private sector innovation, and development finance towards building a Nigeria where small businesses can thrive.