The Federal Government, through the Federal Ministry of Industry, Trade and Investment, has announced plans to launch a National MSME Census in 2026 to strengthen its database of operators, improve targeting of incentives, and deepen access to finance. This follows the disbursement of $200m in funding and support to more than 115,000 Micro, Small, and Medium Enterprises (MSMEs) and exporters in 2025.
According to the Federal Ministry of Industry, Trade and Investment Outlook 2026, the MSME Census is part of efforts to boost small business financing, strengthen data integrity, and accelerate industrial planning. The government said the census would replace estimates with verifiable data and provide a reliable backbone for industrial planning, targeted incentives, and measurable impact.
The ministry disclosed that in 2025, $200m was disbursed to MSMEs and exporters through the Bank of Industry and the Nigerian Export-Import Bank. “In 2025, $200m was disbursed to MSMEs and exporters through the Bank of Industry and the Nigerian Export-Import Bank. In addition, more than 115,000 MSMEs received grants, loans, and trade finance through initiatives of BOI, NEXIM, and the Nigerian Export Promotion Council,” it read.
The National MSME Census has been identified as Priority 1 for 2026 under a broader reform agenda anchored on disciplined implementation, sub-national delivery, and closer integration of trade, investment, and industrial policy.
The Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, said 2025 marked a turning point in Nigeria’s trade and industrial trajectory. She said, “As we reflect on 2025, we recognise it as an inflection point in Nigeria’s trade, investment, and industrial journey, marked by deliberate execution, renewed confidence, and a Nigeria First approach to building a credible export economy.”
She added, “Guided by the Renewed Hope Agenda of His Excellency President Bola Tinubu, the ministry focused on delivery by strengthening facilitation, coordination, and outcomes.”
Oduwole revealed that total capital importation reached approximately $21bn in the first 10 months of 2025, up from $12.3bn in 2024 and $3.9bn in 2023. “Investment outcomes reflected this execution focus. Total capital importation reached approximately $21bn in the first ten months of 2025,” she stated.
She explained that the ministry curated a pipeline of over $5bn in bankable projects, conducted more than 150 bilateral and investor engagements, convened five deal rooms and sector roundtables, and tracked over $50bn in signed commitments from presidential engagements, with about 25 per cent progressing towards implementation. She also said the ministry resolved around 50 investor bottlenecks to accelerate project execution timelines.
On trade performance, Oduwole disclosed that Nigeria recorded total trade of N113.03tn in Q1–Q3 2025, with exports valued at N66.16tn, up by over 11 per cent year-on-year, sustaining a positive trade balance. “In Q1–Q3 2025, Nigeria recorded total trade of N113.03tn, with exports of N66.16tn, up by over 11 per cent year on year, sustaining a positive trade balance,” she said.
She attributed the gains to the gazetting of Nigeria’s AfCFTA tariff schedule, the launch of an air cargo corridor to East and Southern Africa, and targeted support to over 100 MSMEs for export certification and market readiness.
According to her, non-oil exports exceeded $6bn, representing an 11 per cent year-on-year increase. She added that freight costs dropped by about 50 per cent, while export processing times were reduced to under 24 hours.
Oduwole noted that economic diversification accelerated under Priority 7 of the President’s Eight-Point Agenda, with the repositioning of the Nigeria Commodity Exchange delivering over 500 per cent growth in traded volumes and a 111 per cent increase in traded value in 2025.
She further stated that Nigeria ratified the AfCFTA Digital Trade Protocol, secured appointment as AfCFTA Digital Trade Co-Champion, launched the National Intellectual Property Policy, and won hosting rights for CANEX 2026 and the Intra-African Trade Fair 2027.
Looking ahead, the minister said the ministry would anchor its 2026 strategy on four reinforcing pillars: unlocking global and regional demand through trade facilitation; strengthening the domestic supply of exports; mobilising investment through policy coherence and execution; and leveraging data, digital infrastructure, and strategic communications.
Beyond the MSME census, the ministry listed women-led businesses and long-term finance as Priority 4 for 2026. The plan proposes dedicated financing frameworks for women-led industrial and MSME enterprises to address access to patient capital and integrate them into priority value chains.
The Minister of State for Industry, Mr John Enoh, said lessons from 2025 reinforced the urgency of strengthening MSME data and execution frameworks. “Data gaps undermine good intentions. The absence of reliable MSME data constrained planning, targeting, and evaluation, reinforcing the urgency of a national MSME census,” Enoh said.
He added that policy without proper execution architecture would not deliver results. “Sector plans without ownership, sequencing, and monitoring do not translate into outcomes,” he stated.
Enoh stressed the importance of engagement with industry players. “Industry trust is built through listening, not announcements. Engagements with manufacturers, MSMEs, and investors confirmed that credibility is built when policy reflects real constraints, not theoretical models,” he said.
He warned against fragmentation across agencies and stakeholders. “Fragmentation is the enemy of scale. Industrial progress is slowed when MDAs, states, financiers, and private actors operate in silos. Coordinated platforms like the Industrial Revolution Working Group proved essential,” he noted.
On inclusion, he said women-led enterprises must be deliberately supported. “Inclusion is an economic imperative. Women-led enterprises show strong resilience and impact but face disproportionate barriers to long-term finance, a gap that must be addressed deliberately,” Enoh said.
Other priorities outlined in the 2026 agenda include the Made-in-Nigeria National Campaign, industrial cluster development, cotton, textile, and garment value chain transformation, AI and digital industrial governance, review of privatised industries, and the Industrial Revolution Working Group Ministerial Roundtable.
