Nigeria’s industrial future depends on the productivity of its many small businesses.
Consequently, experts emphasised this at the FATE Foundation’s 11th Policy Dialogue Series in Lagos.
Moreover, the event focused on helping MSMEs drive the country’s long-term industrial growth.
Nigeria’s Industrial Growth Depends On Small Businesses
Chairperson, 2025 PDS technical committee, and chairperson at The Sanitation and Hygiene Fund, Cecilia Akintomide, said Nigeria faces a critical moment for economic transformation.
Therefore, entrepreneurship and industrialisation must work together for real progress.
Additionally, she urged policymakers to give small firms the space to grow and scale.
Akintomide noted that SMEs provide most jobs but struggle with low productivity levels.
However, rising entrepreneurship is not yet creating strong industrial growth.
Thus, Nigeria’s future depends on millions of small producers improving skills and tools together.
Overcoming Daily Challenges
She announced that FATE Foundation will launch two new reports next Wednesday at the Metropolitan Club.
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Specifically, one report studies entrepreneurship nationwide, while the second examines Nigeria’s industrial journey.
Vice-chair, 2025 PDS technical-committee and president, Association of Small Business Owners (ASBON), Femi Egbesola highlighted daily challenges that small businesses face, including power, finance, and logistics.
Consequently, these problems determine whether a business survives or shuts down operations.
Therefore, removing these barriers remains essential for sustainable industrial growth.
He argued that policymakers must support entrepreneurs from the ground up.
Furthermore, true industrialisation requires production, decent jobs, and strong local value chains.
In addition, thriving small businesses create industries that eventually transform the economy.
Shaping Policy And Transformation
Egbesola described Nigeria’s industrial path as “top-heavy and bottom-fragile.”
Director at The FATE Institute, Amaka Nwaokolo said the Policy Dialogue Series began as a platform for national engagement.
Over time, it now shapes major discussions on MSME development across Nigeria.
Finally, she explained that this year’s theme marks a shift toward deeper economic transformation.
