SME Power Surge: Digital Skills Fuel Nigeria’s Growth

Lagos, July 2025 – SMEs Drive Economic Surge, Boost Jobs and Inclusion

Key Takeaways:

“According to Moniepoint,” SMEs contribute 48 % of Nigeria’s GDP and 84 % of employment

SMEDAN created over 90,160 jobs in Q1 2025

UpSkill Universe with HP & Google will train 10,000 SMEs by end-2025

Keystone Bank & EDC launched major SME support under 2025 SME Conference

Institutional backing key to sustainable SME growth and inclusive development

🔥 “SMEs na Power” – Insight from the Ground

According to Moniepoint, SMEs make up 96 % of Nigerian businesses and contribute nearly half of GDP, with an 84 % employment footprint . But most earn under ₦250k monthly—and only 1.3 % exceed ₦2.5m profits

Speaking at the SME Conference, the CEO of SMEDAN revealed they created 90,160 jobs in Q1 2025 . “Following the surge in digitalisation, our next step is capacity building,” she added.

Speaking later, representatives from UpSkill Universe said their new “Skills for Business” programme—launched with HP and Google—will train 10,000 Nigerian SME owners in digital tools and AI by year‑end. “This na correct move; no SME go dey left behind,” said Gori Yahaya, CEO of UpSkill.

In a statement released by Keystone Bank and the Enterprise Development Centre (EDC), the bank will sponsor the 2025 SME Conference and support Global Entrepreneurship Week Nigeria, reinforcing institutional SME backing.

At a Lagos market, I met Amina, a cosmetology entrepreneur. In a video filmed by @beautyla_ig, she recounted: “When government programme help me learn digital marketing, traffic don double.” Her eyes sparkled with hope; her story reflects countless others whose lives are shifting from survival to expansion.

Following the report, many business owners took to X (Twitter), celebrating boosted sales and newfound confidence. They spoke of renewed optimism—“e pain don change to gain”—in posts across Facebook and Instagram.

Top Comments

commented @BusinessGuyNG (X): “SMEs no be small thing o! Digital skills dey change lives. #EmpowermentNation”

commented @MamaVendor (Facebook): “My kenyans dey learn social media tori and business don beta for us.”

commented @TechSavvy20 (Instagram): “UpSkill with Google & HP? Big win for grassroots SMEs!”

commented @ABConsult (X): “90k jobs in Q1—solid proof say government + finance + training = impact.”

commented @LagosStylist (Instagram): “I join UpSkill – Na im save my beauty biz. Now I dey teach others.”

Context & Challenges……

• Only 😬 1.3 % of SMEs earn >₦2.5 m monthly; most hustle below ₦250 k profit
• Over 50 % fail within the first year; 95 % collapse by year five .
• Obstacles: financing, infrastructure, taxation, power; still the biggest barriers.

According to research, entrepreneurship development drives job creation and sustainable economic growth, but needs strong institutional and financial infrastructure .

Call for Sustained Support

And speaking at the SME Awards in Lagos (March 2025), convener Adedayo Olalekan urged:

“Despite economic pressures, Nigerians remain resilient. Our task is to back them with resources, policies, and mentorship.”

Following the incident of SMEs struggling with inflation and power drawbacks, the message is clear: talent exists—but scaffolding matters.

Nigeria’s SMEs shine as engines of today’s economic recovery, supported by job creation and digital skill initiatives. Institutional partnerships with SMEDAN, Keystone Bank, HP, and Google are vital. But overcoming financing and infrastructure hurdles remains critical. Continued backing can transform Nigeria’s inclusive growth story—keeping the entrepreneurial spark alive.