Trade Minister Hails MSMEs As Driver Of Nigeria’s Economic Growth

Nigeria’s Minister of Industry, Trade, and Investment, Dr. Jumoke Oduwole, has emphasised the critical role of Micro, Small, And Medium Enterprises (MSMEs) in driving Nigeria’s economic growth.

Oduwole made this known while speaking at the opening of the Benue Inventors and Entrepreneurs Exhibition 2025 in Makurdi on Wednesday, Dr. Oduwole highlighted the sector’s significant contributions, noting that MSMEs account for over 48% of Nigeria’s Gross Domestic Product (GDP), 96% of businesses, and 84% of employment.

The minister underscored entrepreneurship as a key pillar of a thriving economy and encouraged Nigerians to remain committed to innovation and enterprise development. She reaffirmed the government’s commitment to creating a conducive environment for MSMEs to thrive, acknowledging their crucial role in job creation and economic stability.

The Benue Inventors and Entrepreneurs Exhibition 2025, a two-day event, brings together innovators, business owners, and stakeholders to showcase local enterprises and explore strategies to enhance the MSME ecosystem in Nigeria.

Oduwole said the Federal Government was committed to implementing policies and initiatives that would strengthen the MSMEs.

The minister promised that the government would continue to work on the ease of doing business.

“This is just a call to action to continue to support your ingenuity, and we commend your resilience and your determination to build businesses that not only meet your needs in this community but also contribute to the broader economic landscape.

“So, the products on display today are a testament to your hard work and creative vision, and I have no doubt that these products are poised to compete both locally and on the global stage.

“To the esteemed consumers and visitors here today, this exhibition offers you an opportunity to experience firsthand the quality and innovation of locally made products.

“By supporting these businesses, you’re contributing to the growth of our national economy, creating jobs and promoting sustainable development.

“Let us make a conscious effort to prioritise made-in-Nigeria products,” she said.