JUST IN: NECA flags policy Inconsistency, funding gaps as barriers to MSME growth

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The Nigeria Employers’ Consultative Association (NECA) has highlighted inadequate funding and unstable government policies as major obstacles confronting Micro, Small and Medium Enterprises (MSMEs) in the country.

Speaking at the NECA MSMEs Fair ’25 South-East Edition in Enugu on Tuesday, the association’s president, Dr. Ifeanyi Okoye, said small business operators continue to grapple with poor infrastructure, irregular power supply, and limited access to credit. The event was themed “Galvanising MSMEs for Economic Growth and Stability”.

Okoye lamented the shifting policy environment that undermines business confidence. “Somebody will come today and say these people will not pay tax; tomorrow, another person will come and say they should start paying tax. Another will come up and say, ‘Collect one Naira,’ and another person will come tomorrow and say, ‘Collect three Naira.’ All these are affecting businesses,” he said.

He explained that the fair was organised to reaffirm the collective resolve of stakeholders to support MSMEs, which he described as the backbone of Nigeria’s economy. According to him, the NECA-MSME fair was created as a platform to showcase the sector’s immense contributions to national development and to spark discussions on ways to strengthen it.

With the South-East edition, Okoye said the association aims to deepen collaboration, empower entrepreneurs, and create avenues for growth. He underscored the vital role MSMEs play, noting that they represent more than 90% of Nigerian businesses, employ millions of people, and contribute significantly to GDP.

“This fair, therefore, is more than an exhibition, it is a call to action,” he stressed, while urging stakeholders to rally around the sector.

Okoye appealed to policymakers, financiers, innovators, and entrepreneurs to work together in unlocking opportunities for MSMEs. “Through networking, investments, linkage, policy engagement, and knowledge sharing, NECA is committed to building an enabling environment where businesses can thrive, compete, and sell,” he said.

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