A Review of the 2021-2025 National Policy on Micro, Small and Medium Scale Enterprises (MSMEs) in Nigeria

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April 17, 2023 - Bolarin Titus Omonona, Grace Amadi<grcraji@gmail.com> and Lenis Saweda O. Liverpool-Tasie

In order to address challenges facing nano, micro, small, and medium-sized enterprises (NMSMEs) and to encourage economic growth and entrepreneurship, the Nigerian government has employed various measures — including the development of a MSME policy in 2007 — to develop the MSME subsector. Stakeholders in the private sector have also implemented programs to complement government’s effort. To improve the synergy between government and private sector efforts, the 2007 National Policy on MSMEs was reviewed to maximize its employment generation, wealth creation, poverty reduction and general contribution to economic growth in Nigeria. This resulted in the 2021-2025 National MSME policy launched in 2021.

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