By: Goodluck E. Adubazi, Abuja.

At the 20th International MSME Summit held in Abuja on Friday, NASME President, Dr. Abdulrashid I. U. Yerima, delivered a powerful address calling for a national rethink of how Nigeria creates jobs, builds wealth and tackles poverty.

Speaking before an audience of policymakers, business leaders and entrepreneurs at the RMRDC Hall, Yerima declared that the country stands at a defining moment, one where the growth of Micro, Small and Medium Enterprises (MSMEs) must become the backbone of inclusive prosperity.

Framing MSMEs as “a powerful philosophy” rather than just an economic segment, Yerima emphasized that the enterprises run by everyday Nigerians reflect the nation’s capacity to innovate, compete and uplift communities. “Prosperity is created when more people participate in the economy,” he said, affirming that thriving small businesses directly translate into rising incomes, expanding job opportunities and declining poverty rates.

The summit’s theme Revolutionising Job Creation, Income Generation and Poverty Reduction Through MSME Development and Growth, set the tone for Yerima’s call to action.

He outlined a national agenda centered on modernizing and expanding the MSME ecosystem, stressing the need for:

Digitization and technology adoption across small enterprises
Broader and easier access to financing
Higher product standards and stronger certification frameworks
Reduction of multiple taxation and bureaucratic hurdles
Empowerment of youth and women entrepreneurs
Integration of Nigeria’s MSMEs into regional and global value chains

Yerima argued that real job creation will come not from waiting for opportunities but from enabling people to build them. Likewise, he said poverty cannot be addressed through temporary relief alone but through “expanding opportunities for enterprise and sustainable income.”

Reaffirming NASME’s commitment, he pledged stronger partnerships, advocacy for enabling policies and capacity-building programs that will help Nigerian MSMEs compete both locally and internationally.

As the summit opened, Yerima left attendees with a decisive message: “MSMEs are not waiting for the future, they are creating it. Our duty is to support them.”

The two-day summit continues in Abuja with panel sessions, workshops and stakeholder engagements aimed at charting a new path for Nigeria’s MSME-driven economic transformation.