Lagos State Governor Babajide Sanwo-Olu has called for closer cooperation among federal agencies, state leaders, financial institutions, and the private sector to expand funding, infrastructure, and commercial channels for local businesses. He delivered the call to action on Monday, 9 November, at the 2026 GROW Nigerian Conference, hosted by the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) at the Ecobank Pan-African Centre in Victoria Island, Lagos.
Sanwo-Olu noted that the gathering offered a timely platform to connect everyday entrepreneurs with the institutions and decision-makers capable of solving real-world business constraints for small business owners. He reminded delegates that micro, small, and medium enterprises serve as the bedrock of the economy, keeping households afloat, creating jobs, and energising local communities.
“Small and medium-sized enterprises are the real engines of growth. They are the businesses creating jobs, sustaining families and keeping the Nigerian economy moving. What we need are institutions that support their hard work through government policies, infrastructure, financing and market opportunities that enable them to succeed,” he said.
Stressing that passion alone cannot sustain Nigeria’s estimated 39.6 million MSMEs, Sanwo-Olu underscored the urgent need for accessible credit, reliable infrastructure, sensible regulation, and broader market access. He challenged stakeholders to ensure relief and support measures reach grassroots business owners where help is needed most.
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Highlighting local progress, he shared that the Lagos State Employment Trust Fund has supported nearly 39,000 businesses with low-interest loans, grants, and operational vouchers. He added that the state has also rolled out targeted funding and grant programs for tech startups and creative enterprises.
Earlier, SMEDAN Director-General Charles Odii detailed federal initiatives designed to simplify formalisation, improve capital flow, and supply machinery for emerging enterprises. He explained how SMEDAN is helping informal businesses move into the formal economy while expanding access to shared industrial development centres, shared equipment facilities, and tailored business advice.
“Under President Bola Ahmed Tinubu, the Federal Government has given particular attention to enterprise development through financing, tax reforms, formalisation and investment in production facilities. At SMEDAN, we are working closely with stakeholders to ensure these interventions reach small businesses and provide lasting solutions that enable them to grow and expand,” he said.
Odii also revealed that SMEDAN has delivered skills training to over 1.76 million business owners over the past year. This year’s conference features product showcases from 230 local entrepreneurs, alongside practical masterclasses and a live pitch session connecting promising businesses with funding partners.
Complementing these efforts, MTN Nigeria is extending support to entrepreneurs through its mySMEville platform, which connects small businesses with expert business advice, funding opportunities, market access and workforce development. Launched by Lynda Saint-Nwafor at the event, the platform offers structured mentorship, practical training and connections to investors and corporate partners, to strengthen business capacity and equip entrepreneurs to scale sustainably.
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