KARU, NIGERIA — Nigeria’s 40 million small and medium-sized enterprises ($\text{SMEs}$) face severe survival threats from an increasingly difficult operating environment, sparking urgent calls for policy changes, security interventions, and a complete overhaul of credit access frameworks.
The warning was issued by business leaders, financial experts, and researchers at the inaugural International Conference on Entrepreneurial and Managerial Innovation for Sustainable Socio-Economic Development ($\text{ICEMISD 2026}$), hosted by Bingham University.
The panel focused heavily on the deep structural flaws within the domestic credit market. Dr. Esther Williams, Managing Director of Dabo Group, speaking alongside the group’s founder, Williams Dabo, argued that current policies are actively hurting local commerce. She pointed out that while the government frequently announces single-digit loan packages, the strict collateral conditions attached to them make the funds virtually impossible for small businesses to access.
Security Deficits and the Cost of Capital
Dr. Edinen Usoroh, Managing Director of Executive Guards Limited, connected financial constraints directly to regional security issues. He explained that threats ranging from physical insecurity and kidnapping to cybercrime and political instability act as an informal tax on business operations.
These security challenges drive up operational costs, wipe out profit margins, and discourage long-term investment.
“Security is not just a condition for peace; it is a fundamental determinant of business success,” Usoroh stated. He urged the government to establish policy stability and stronger institutional security frameworks, while noting that targeted digital innovations in fintech, agritech, and renewable energy could help counter these issues by engaging youth and reducing crime rates.
The conference also addressed structural operational weaknesses. Professor Helen Afang Andow of Kaduna State University observed that entrepreneurial drive without proper managerial discipline cannot sustain a business over time. She called for coordinated policies that directly link financial services, educational platforms, and regulatory institutions to support resilient economic growth.
Rethinking Innovation and Higher Education
Delivering the keynote address, Prof. Edward Perekebina Agbai, Dean of the Department of Management and Entrepreneurship at Emmanuel University (USA), called for a fundamental rethink of how businesses operate.
He introduced a four-pillar framework designed to move companies past simple profit-seeking toward measurable social and environmental impact. Agbai warned that managing technological disruption, climate change, and rising inequality requires comprehensive systemic updates rather than minor adjustments.
On the role of academic institutions, Dr. Uduak Bassey Mbang of Arthur Jarvis University urged universities to change their approach to help lower graduate unemployment. Mbang proposed a new teaching model that combines technical finance, corporate leadership, and soft skills with active corporate apprenticeships and hands-on training.
