In the heart of Nigeria’s economy lies a paradox: micro, small, and medium enterprises (MSMEs) sustain nearly 88 percent of employment and contribute almost half of national GDP — yet they remain starved of the fuel needed to accelerate growth. The financing gap that holds them back now stands at an estimated ₦13 trillion, a staggering figure that reflects not failure, but potential waiting to be unlocked.
Speaking at the 2025 Annual Directors Conference of the Chartered Institute of Directors in Abuja, Kola Adesina, Managing Director of Sahara Group, challenged Nigeria’s business and policy leaders to look beyond balance sheets and see the broader equation defining the nation’s true economic value. “Our MSMEs are the engine of this economy,” he noted, “but they run on roads filled with potholes — unreliable power, scarce financing, and unpredictable policies.”
Adesina likened Nigeria’s growth challenge to a company’s balance sheet that appears profitable in the boardroom yet runs a deficit of trust, infrastructure, and energy in the real economy. “For the stock price of Nigeria Plc to rise,” he argued, “our national balance sheet must be positive across all sectors — from governance to education, from infrastructure to transparency.”
But Adesina’s message went beyond diagnosis; it was a call to reimagine capitalism with conscience. He urged private businesses to reject the outdated idea that national development is solely government’s responsibility. “A business that detaches itself from public purpose cannot prosper for long,” he said. “Real economies thrive when enterprise and nationhood operate as partners, not strangers.”
To bridge Nigeria’s massive MSME gap, he proposed a framework of smart collaboration — one that aligns private capital with national priorities. This means creating smart regulations, streamlining tax and permit systems, expanding credit guarantee schemes, and designing investment incentives that allow small enterprises to scale sustainably.
He emphasized inclusivity as the foundation of lasting growth. “Enterprise is not sustainable unless it is inclusive,” he said. “Women- and youth-led MSMEs must have fair access to finance and supply chains. Large firms should commit to prompt payments — within 15 to 30 days — and co-invest in reliable energy for their production clusters. Our success is intertwined: their progress drives our prosperity.”
Adesina also championed knowledge-driven growth, urging companies to partner with universities, incubators, and start-ups to nurture innovation. By sharing data, mentoring emerging entrepreneurs, and opening controlled access to infrastructure, he said, the private sector can transform Nigeria from a “continent of hustlers into a continent of producers.”
Ultimately, his vision rests on alignment — not isolation. The organised private sector and government, he argued, must co-create priorities for infrastructure, social impact, and human capital, ensuring that every investment speaks to a shared vision.
“Africa holds one-fifth of the world’s population,” he reminded the audience. “It is time we match that demographic power with innovation power. Only when public purpose and private capability move in tandem can Nigeria achieve the big leaps our people deserve.”
In Adesina’s framing, the ₦13 trillion financing gap isn’t just a statistic — it’s a mirror reflecting untapped potential. The path to closing it lies not merely in lending more but in thinking differently: building trust, creating inclusion, and turning profit into purpose.
