In a significant move to further strengthen the position of Nigeria as a leading force in Africa’s economic development, President Bola Ahmed Tinubu has set up a high-level committee ahead of the African Union (AU) Micro, Small, and Medium Enterprises (MSME) Forum, which is scheduled to take place in Nigeria in June 2025. The establishment of this committee marks a key milestone in the country’s efforts to support small businesses and foster regional economic integration.
The committee, which will be chaired by the Minister of Industry, Trade, and Investment, is tasked with ensuring the smooth execution of the forum, coordinating logistics, managing partnerships, and facilitating meaningful discussions and partnerships between governments, businesses, and stakeholders from across Africa. This forum, an important initiative of the African Union, aims to empower MSMEs by providing a platform for dialogue, knowledge sharing, and collaboration.
The Importance of the MSME Forum
The AU MSME Forum is a vital event that brings together policymakers, industry leaders, entrepreneurs, and international partners to discuss the challenges and opportunities facing small businesses across Africa. With MSMEs representing a critical component of the continent’s economy, accounting for a large share of employment and GDP in most African nations, the forum is expected to be a significant catalyst for economic transformation.
Nigeria, with its robust entrepreneurial spirit and thriving MSME sector, has long been a leader in advocating for policies that promote small and medium-sized enterprises. The country’s choice as the host for this year’s forum highlights its commitment to advancing the growth and sustainability of African MSMEs.
The Role of the Committee
The newly established committee will work tirelessly to ensure the success of the forum by handling various aspects of the event, including planning and coordination, organizing seminars and workshops, and facilitating partnerships with international development organizations. The committee’s responsibilities are extensive and will require close collaboration with various government agencies, private sector partners, and African business associations.
Members of the committee include prominent figures from Nigeria’s trade, industry, and investment sectors, as well as representatives from the Nigerian Chamber of Commerce and Industry (NCCI) and other business advocacy groups. The committee will also engage with international partners, ensuring that the forum benefits from global expertise while remaining focused on addressing the unique challenges faced by African MSMEs.
Key Objectives of the Forum
The primary objective of the AU MSME Forum is to create an enabling environment for the growth of MSMEs across the continent. During the event, attendees will have the opportunity to explore strategies for addressing key issues such as access to finance, market linkages, regulatory challenges, and capacity building. Experts will also focus on enhancing digital literacy and encouraging innovation, which are critical for MSMEs to thrive in an increasingly globalized and digital economy.
A major theme of the forum will be the role of governments and regional bodies in creating policies and frameworks that promote the growth of MSMEs. Discussions will center on the importance of reducing bureaucratic hurdles, improving access to credit, and fostering a conducive business environment. As part of this, the committee is expected to work closely with African Union institutions to ensure that the outcomes of the forum contribute to the AU’s broader agenda of industrialization and economic integration.
Another critical area of focus will be the promotion of intra-Africa trade. Nigeria, as a key player in the African Continental Free Trade Area (AfCFTA), is expected to leverage the forum to promote cross-border trade and the free movement of goods and services within Africa. The forum will explore how MSMEs can better tap into regional markets and collaborate with businesses in other African nations to create a more integrated and competitive African market.
Expectations for the Forum
Given Nigeria’s status as one of Africa’s largest economies and its vibrant entrepreneurial ecosystem, expectations for the upcoming forum are high. Stakeholders anticipate robust discussions on how to address the financing gaps that many African MSMEs face, particularly in accessing affordable loans and venture capital. Additionally, the forum will focus on the importance of innovation and technology in driving the growth of small businesses.
Experts argue that for African MSMEs to remain competitive, they must embrace digital transformation and adopt innovative business models. As part of the preparations, the committee is expected to organize workshops and panel discussions on how MSMEs can harness emerging technologies such as artificial intelligence, blockchain, and e-commerce platforms to scale their operations.
Additionally, the forum will explore how MSMEs can become more resilient in the face of economic shocks and disruptions, as evidenced by the impact of the COVID-19 pandemic. In this regard, a strong emphasis will be placed on the role of government policies in supporting businesses during times of crisis, as well as how MSMEs can build long-term sustainability through strategic partnerships.
Nigeria’s Commitment to MSME Growth
President Tinubu’s commitment to strengthening Nigeria’s MSME sector is evident in the formation of the committee and his active support for the AU MSME Forum. As part of his administration’s broader economic agenda, the president has repeatedly emphasized the need to provide greater support to small businesses, which are essential to job creation and economic diversification in Nigeria.
In recent months, the government has introduced a series of initiatives aimed at improving the ease of doing business, enhancing access to finance for SMEs, and encouraging entrepreneurship across various sectors. The upcoming forum is expected to complement these domestic efforts by offering Nigeria’s MSMEs a platform to connect with other African businesses and explore new opportunities for growth.
The Road Ahead
As the countdown to the AU MSME Forum continues, preparations are well underway to ensure the event is a resounding success. The committee’s work will play a critical role in shaping the discussions and outcomes of the forum, ensuring that it delivers tangible benefits for MSMEs across Africa.
Ultimately, the forum presents an opportunity for African countries, including Nigeria, to come together and chart a collective path toward a more inclusive and sustainable economic future. For President Tinubu and his administration, hosting the AU MSME Forum is not just a diplomatic achievement—it is a vital step in fostering a more resilient and dynamic African economy. The outcomes of the event will likely have far-reaching implications for small businesses, regional integration, and Africa’s position on the global economic stage.
