MSMEs account for 96% of businesses, contribute 48% to Nigeria’s GDP – Minister
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Verified Synthesis~34s readMicro, Small and Medium Enterprises (MSMEs) account for 96% of businesses in Nigeria, contribute 48% to the country’s Gross Domestic Product (GDP) and provide 87% of employment, according to the Minister of State for Industry, Sen. John Owan-Enoh. MSMEs drive economic activity Owan-Enoh said the scale of MSME participation in the economy underscored the importance of supporting small businesses and improving their operating environment.
Context & Background
- ✦Owan-Enoh disclosed this on Sunday night in Calabar during a town hall meeting with business operators organised by the Directorate of Manufacturing and MSME of the All Progressives Congress (APC) Presidential Campaign Council.
Key Figures & Named Entities
96%:Micro, Small and Medium Enterprises (MSMEs) account for 96% of businesses in Nigeria, contribute 48% to the country’s Gross Domestic Product (GDP) and provide 87% of employment, according to the Minister of State for Industry, Sen. John Owan-Enoh.Sunday:Owan-Enoh disclosed this on Sunday night in Calabar during a town hall meeting with business operators organised by the Directorate of Manufacturing and MSME of the All Progressives Congress (APC) Presidential Campaign Council.2026:Nairametrics reported that the Federal Government introduced the Nigerian Industrialisation Policy in January 2026, with six pillars, including MSME-to-industry transition, value-chain development and import substitution.
Outlook & Next Steps
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Key Takeaways
Verified Extract- Micro, Small and Medium Enterprises (MSMEs) account for 96% of businesses in Nigeria, contribute 48% to the country’s Gross Domestic Product (GDP) and provide 87% of employment, according to the Minister of State for Industry, Sen. John Owan-Enoh.
- MSMEs drive economic activity Owan-Enoh said the scale of MSME participation in the economy underscored the importance of supporting small businesses and improving their operating environment.
- Owan-Enoh disclosed this on Sunday night in Calabar during a town hall meeting with business operators organised by the Directorate of Manufacturing and MSME of the All Progressives Congress (APC) Presidential Campaign Council.
Key Facts:96%: Micro, Small and Medium Enterprises (MSMEs) account for 96% of businesses in Nigeria, contribute 48% to the country’s Gross Domestic Product (GDP) and provide 87% of employment, according to the Minister of State for Industry, Sen. John Owan-Enoh.Sunday: Owan-Enoh disclosed this on Sunday night in Calabar during a town hall meeting with business operators organised by the Directorate of Manufacturing and MSME of the All Progressives Congress (APC) Presidential Campaign Council.2026: Nairametrics reported that the Federal Government introduced the Nigerian Industrialisation Policy in January 2026, with six pillars, including MSME-to-industry transition, value-chain development and import substitution.20%: The policy targets increasing manufacturing’s contribution to GDP to between 20% and 25% by 2030.
Editorial Excerpt
Micro, Small and Medium Enterprises (MSMEs) account for 96% of businesses in Nigeria, contribute 48% to the country’s Gross Domestic Product (GDP) and provide 87% of employment, according to the Minister of State for Industry, Sen. John Owan-Enoh.
Frequently Asked Questions About This Story
What is the latest development regarding Cross River State?
Micro, Small and Medium Enterprises (MSMEs) account for 96% of businesses in Nigeria, contribute 48% to the country’s Gross Domestic Product (GDP) and provide 87% of employment, according to the Minister of State for Industry, Sen. John Owan-Enoh.
Who are the key organizations or public figures mentioned?
The primary parties identified in this coverage include Cross River State, All Progressives Congress, Calabar.
What timeline or key figures were confirmed?
Micro, Small and Medium Enterprises (MSMEs) account for 96% of businesses in Nigeria, contribute 48% to the country’s Gross Domestic Product (GDP) and provide 87% of employment, according to the Minister of State for Industry, Sen. John Owan-Enoh.
