The Federal Government on Tuesday forecasted up to 300,000 additional jobs in 2026 as it intensifies efforts to strengthen the Micro, Small and Medium Enterprises (MSME) sector through stronger agency collaboration, improved funding channels and technology-driven incubation programmes.
The projection followed a high-level meeting chaired by Vice President Kashim Shettima at the Presidential Villa, Abuja. Briefing journalists after the meeting, Minister of Information and National Orientation Mohammed Idris said recent progress in MSMEs shows that reforms are beginning to deliver results.
He described the developments as “clear evidence that broad-based economic reforms are gaining traction.”
According to Idris, the meeting brought together government officials, development partners and business stakeholders to review ongoing programmes and improve coordination among agencies focused on economic growth. He commended the Office of the Special Adviser on MSMEs for what he called its “renewed coordination and visible enthusiasm among participants.”
The minister revealed that the MSME sector created about 250,000 jobs last year. He said maintaining the current pace could result in another 300,000 jobs in 2026, helping to address employment challenges while promoting financial inclusion and wider economic participation.
Idris also pointed to increasing international recognition of Nigeria’s reforms. He said engagements with global lenders and improved credit ratings reflect growing investor confidence. He added that Nigeria’s stronger presence at African business forums demonstrates its commitment to sustainable growth across the continent.
Special Adviser to the President on MSMEs, Tola Adekunle-Johnson, said President Bola Tinubu has directed federal agencies to align under a unified framework to speed up job creation and make small-business loans more accessible.
He disclosed that agencies such as the Industrial Training Fund (ITF), Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Nigerian Export Promotion Council (NEPC) and Nigerian Investment Promotion Commission (NIPC) are now working “as a single team” to deliver better outcomes.
Adekunle-Johnson said the coordinated approach is expected to lower MSME loan rates, expand access to new markets and simplify support systems for entrepreneurs. He noted that state partnerships last year introduced de-risking funds offering loans at 9 to 10 per cent interest rates.
He added that the Vice President has directed SMEDAN to deepen its engagement with state governments to expand funding access, while NEPC has been tasked with widening export opportunities for small businesses.
SMEDAN Director-General Charles Odii stressed the importance of collaboration across sectors, stating that “job creation cannot be achieved in isolation.” He said the agency is strengthening government–private sector partnerships and recently held strategy sessions with the National Assembly ahead of updates to MSME policies.
Odii disclosed that Nigeria has about 39.6 million nano, micro, small and medium enterprises. He said a new census is underway to improve data accuracy and guide planning.
Looking ahead to 2026, he announced that SMEDAN will roll out ITF-backed support for textile and fashion professionals, equipping selected designers and tailors with N5 million business setups each.
He also revealed plans to commission West Africa’s first meta and digital fabrication centre in Lagos in April, with similar centres to be established nationwide. According to him, the hubs will leverage local strengths such as timber in Edo and Ondo, ceramics in mineral-rich areas and leather in Kano, using digital tools to improve productivity and competitiveness.
Odii said the programmes align with the government’s private sector-led growth agenda and noted that beneficiaries will be required to mentor others to expand job creation and business growth within their communities.
