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SMEs: What Importance To Nigerian Economy?

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The Small and Medium Enterprises (SMEs) sector, in recent times, has suffered many setbacks due to the COVID-19 pandemic and the #EndSARS protests that are currently rocking the country.
This week, The Tide’s Business Unit takes a look at the importance of the SMEs to the Nigerian economy and why the sector should be given proper attention by the government.
Our senior correspondent, Lilian Peters, went to town to have a chat with some entrepreneurs in Port Harcourt and here is what she came back with.
Chief Executive Officer of BenFather Enterprises, Rev. John Benneth, believes that without the SMEs, the demand and supply of the masses in any society cannot be met.
“The SMEs are the economic hub of the country and play a very important role in revenue generation.
“It is unfortunate that the same sector has not been given the required attention to thrive which will in turn benefit the society.
“Government should provide conducive environment for the SMEs and checkmate the excesses of touts and police who take undue advantage of the sector”, he said.
Rev. Bennett noted that many investors had left the country due to insecurity and lack of conducive business environment.
According to him, the harsh economic reality in the country has negatively affected the SMEs. He said the sector required urgent attention of the government to bounce back.
On the ongoing #EndSARS protests in the country, he said, “the youths are fighting a just cause, but unpatriotic Nigerians have hijacked the protests which resulted in the destruction of lives, property and even the business of SMEs”.
Chief Executive Officer/Managing Director of GEEPICS International Limited, Mr Gideon Emeh, says SMEs play a major role in the nation’s economy.
“The only way a nation can boast of a sustainable economic growth is by having a stabilised SME which is the backbone of any economy.
“Growth of SMEs is a sign of a good economy because they pay taxes, provide jobs for others and are also responsible for currency flow”, he said.
Emeh who deals on system softwares, security and engineering programming said the Federal Government has not done enough to help the growth of SMEs in the area of stable power supply, good infrastructure and harmonised taxation.
He urged small and medium entrepreneurs to always invest in self development and acquisition of current skills.
“When you do trial and error in business, chances are that you may succeed out of perseverance or fail out of frustration”, he said.

Managing Director of Ogbom Welding & Fabrication Works, Mr Christopher Ogbonna Nduka, says the importance of SMEs cannot be over-emphasised in the society.
SMEs, he noted, play an important role in reducing crime rate, providing services to the masses and also maintaining the systems put in place by the government.
According to him, “just as welding works provide security to properties, so do SMEs secure economic growth for the country”.
Nduka noted in strong terms that any country that wants a sustainable economy does not play with the entrepreneurs who drive its economy.
“Nigeria should make more moves to help the SMEs in the country to develop like other countries.
“Here, government is only interested in collecting one revenue or the other. Nobody cares for our welfare. Whether we make gain or not, we must generate revenue to all the three tiers of government in addition to contending with the touts who are ready to fight and destroy our working tools.
“This is the reason why we have many businesses closed down after the COVID-19 pandemic and now EndSARS”, he said.

Managing Director of DIDI Concepts, Mrs Lilian Ndidi Onuoha, says the SMEs play a very important role in the development of any nation.
Mrs Onuoha who deals on wares said, “the SMEs do not depend on government for employment, but rather create jobs for themselves and even employ people to reduce the level of unemployment that increases the crime rate in the society”.
She however, observed that the SMEs in Nigeria today “are below average compared to those of other countries.
“Government needs to do more in terms of financial support, encouragement and infrastructural development,”
She added that “the #EndSARS protests have also impacted negatively on the SMEs. The initial motive of the protesters was good but hoodlums hijacked it and damaged, looted and burnt businesses that SMEs built, nurtured and grew for many years”.

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Environment

Ministry of Environment Launched Ikosi Market Anaerobic Digester

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February 16, 2026

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The Lagos State Ministry of Environment and Water Resources (MOE&WR) has officially launched the Ikosi Market Anaerobic Digester powered by C40 Cities Urban Climate Action Programme to turn waste-to-energy.
  The project is facilitated by C40 Cities Urban Climate Action Programme – Climate Action Implementation (UCAP CAI), financed by the UK government’s Foreign, Commonwealth and Development Office (FCDO).
It is also supported by the British High Commission in Nigeria.
This facility will systematically collect the market’s organic waste and feed it into an anaerobic digester.
The natural bacteria will break down the waste without oxygen to produce biogas.
Also,  in doing so, it will carry out a remarkable process of biological transformation that yields two invaluable products, biogas and bio-fertiliser.
Speaking at the event, Mr Tokunbo Wahab, Commissioner for the Environment and Water Resources, described the launch of the Biogas as a milestone achievement in addressing waste management issues in the state.
“Today is a proud moment for Ikosi, and indeed for Lagos State, as we mark another important milestone on our journey towards a cleaner, greener and more resilient city.
“We are not merely commissioning a facility; we are unveiling a vision on how Lagos can turn our everyday challenges into powerful opportunities.
“The Ikosi Fruit Market Biogas Plant represents a bold step in reimagining waste, not as a burden, but as a valuable resource that can drive sustainability, resilience and inclusive growth.
“This project transforms a long-standing problem into a practical solution. Instead of rotting in dumps, organic waste from this market will now be converted into clean, sustainable biogas for cooking and electricity.
“At the same time, it will produce nutrient-rich organic fertilizer that can be used on our farms. This is the circular economy in action—closing the loop, reducing emissions, creating value and improving livelihoods,” Wahab said.
He said the project reflects a much bigger ambition for Lagos State.
“The initiative is being implemented in partnership with C40 Cities and UK International Development under the Climate Action Implementation programme.
“Through this collaboration, Lagos continues to show leadership by translating international climate commitments into practical, community-level action.
“Today’s launch affirms a simple but powerful truth: the future of sustainable cities will be built not only in boardrooms and policy documents, but right here in our markets, our communities and our daily activities,” he said.
On his part, Dr Muyiwa Gbadegesin, the Managing Director of the Lagos State Waste Agency, said the project launch was a testament of the state’s drive to tackle waste.
“Lagos State Government takes very seriously the issue of environment, the issue of waste management, and in particular, the issue of circular economy, which you can only achieve by converting our waste to wealth.
“It’s beginning of many more projects, because we in Lagos State have recognised that waste is a resource.
“By managing our waste in this manner, we are strengthening public health and sanitation in our markets, and we are advancing our shift to climate smart and accountable Waste Management System.
“This project takes organic market waste that would otherwise end up in the drains or illegal dumps or on culverts.
“We want this place to work so that we can get more C40 cities to see what we’re doing and maybe the next market may be the Mile 12 market,” Gbadegesin said.
Also, Mr Gaji Tajudeen, the Permanent Secretary MOE &WR, lauded the partners and all the stakeholders that made the launch a reality.
“I welcome you all to the launch of the Ikosi Fruit Market Biogas Plant. This achievement represents a major step forward in our collective pursuit of environmental sustainability, renewable energy and the conversion of waste into wealth.
“Today is a powerful testament to your commitment to innovation, sustainable development and the importance of collaborative efforts in addressing the environmental challenges facing our state.
“This project represents the power of innovation, collaboration and technology. For a long time, we have grappled with the challenge of waste management.
“The Ikosi Fruit Market Biogas Plant provides an ingenious solution, transforming what we once considered “waste” into valuable resources.
“It will convert organic waste into clean cooking gas and electricity for our homes, and organic fertilizer for our farms.
“We owe our sincere appreciation to C40 Cities and UK International Development under the Climate Action Implementation programme for their continued support,” Tajudeen said.
The C40 Cities Regional Director -Africa, Mr Anthony Okoth, said the “C40 is a global entity that actually focuses on bringing together 100 mega cities across the globe.
“It basically controls a population of about 925 million people in terms of cities, and basically takes care of about 20% of the global economy.
“And basically our main mandate is actually to look to ensure that as we engage the cities, we actually are able to drive the Paris Declaration of ensuring that we don’t go beyond the 1.5 degrees centigrade in terms of heat increase.
“As we stand here today, I’m very proud, because it’s truly simple by saying that we can actually turn waste into wealth.
“And for us, that’s our mantra, working with African grown solutions to actually transform and address the African agenda.
“It is not us who have done it alone, but under the leadership of the state government.
“And so we truly appreciate the leadership and the direction that we have gotten and received for us, this project actually is a symbol of local, grown solutions, where we are actually excited,” Okoth said.
Also, Mrs Temitope Okunnu, the Chief Executive Officer of FABE Foundation and implementer of the project, said the launch “is a reality come true”.
“We have had different engagements in this market since a year plus, it has been an amazing. It has been a beautiful work done here.
“Imagine food waste from the regular Ikosi Market that you and I come on a regular basis, now converting their own food waste that was meant to be at the dump site into electricity, gas, cooking gas.
“And the most important of all, is that we can secure our food in Lagos with the digester, which we call the Eco-fertiliser.
“So, let us appreciate the Lagos State Government through the Ministry of Environment for championing this beautiful cause and C40 Cities for supporting this project in Lagos, Nigeria.
“The replication has started already across the other 35 markets, we are ensuring that we would start something and make it work,” Okunnu said.
NAN reports that the Ministry of Agriculture and Food Systems as partners of the project will be distributing the biodigester to the farmers the project was implemented by FABE Foundation and MEYANA.
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Environment

NiMet predicts longer-than-normal rainy season in 13 states

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February 16, 2026

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The Nigerian Meteorological Agency (NiMet) has predicted a longer-than-normal length of rainy season in Lagos, Benue, Enugu, Ebonyi, Ogun, Oyo, Nasarawa, Anambra, Kwara, Kebbi, Kaduna, Gombe and Taraba States in 2026.
The Minister of Aviation and Aerospace Development, Mr Festus Keyamo, disclosed this during the Public Presentation of the 2026 Seasonal Climate Prediction (SCP) in Abuja on Tuesday.
Keyamo said NiMet revealed that early onset was expected in Bayelsa, Rivers, Akwa Ibom, Cross River, Benue, Kogi, Nasarawa, Oyo, and parts of Kebbi, Niger, Jigawa, Katsina, Kano, Adamawa, and Taraba.
“While a late onset is expected over Borno State. Rainfall cessation is anticipated to be earlier than normal in parts of Ogun, Osun, Ondo, Imo, Rivers, Akwa Ibom, Kogi and Niger States.
“However, a delayed end of season is expected in Lagos, Ogun, Anambra, Enugu, Cross River, Benue, Nasarawa and Kaduna States.
“Whereas, parts of Borno, Yobe and Niger States are expected to have a shorter-than-normal length of rainy season. A normal annual rainfall amount is anticipated in most parts of Nigeria compared to long-term average,” the agency said.
It forecast above-normal rainfall in Borno, Sokoto, Kebbi, Kaduna, Enugu, Cross River, Abia, Ebonyi, Akwa Ibom States, and the Federal Capital Territory; while in parts of Katsina, Zamfara, Kwara, Oyo, and Ogun States, below-normal rainfall would be expected.
The agency anticipated severe dry spells exceeding 15 days in parts of Oyo and Ogun States during the season of March to May.
NiMet also predicted moderate dry spells over Ekiti, Kogi, Osun, Ondo, Ogun, Edo, Ebonyi, Abia, Cross River, and Delta states, parts of Kogi and Kwara States.
‘’Furthermore, during the June-July-August season, a severe dry spell that may last up to 21 days is predicted for parts of Bauchi, Borno, Gombe, Jigawa, Katsina, Kano, Kebbi, Kwara, Nasarawa, Niger, Oyo, Plateau, Sokoto, Yobe, and Zamfara States.
‘’ The Little Dry Season (LDS), also known as ‘August Break,’ is predicted to begin by late July and will be severe and prolonged over Lagos, Ogun, Ekiti and parts of Oyo States.
‘’The number of days with little or no rainfall will range between 28 and 40 days. A moderate LDS effect is expected over Ondo, parts of Kwara and Edo States,’’ it noted.
According to the agency, both daytime and nighttime temperatures are predicted to be warmer than the long-term average over most parts of the country in January, February, March, and May.
“Some significant rains across the southern parts of the country this year should not be taken to mean that the rainy season has started in these places.
‘’Those engaged in rained agriculture and other rainfall-dependent activities in Nigeria are therefore advised to refer to the predicted onset dates in the publication or consult NiMet for proper guidance, ‘’
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Oxfam, partners celebrate 5 years of climate governance programmes in Nigeria

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5 days ago

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February 16, 2026

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Oxfam in Nigeria has marked the close-out of its five-year Power of Voices, Fair for All (F4A) and African Activists for Climate Justice (AACJ) programmes in Nigeria.
Oxfam Country Director, John Makina, at the occasion on Thursday in Abuja, described the programmes as “a journey of courage, partnership and transformation.”
Makina said that the initiatives demonstrated the power of communities, when equipped, to “speak, act and lead” in governance, climate justice and economic accountability.
He said that the journey had been more than a development intervention.
“It has been a collective effort to shift power, amplify voices and place citizens where they rightfully belong—at the centre of governance, climate justice and economic accountability in Nigeria,” he said.
Makina highlighted key achievements of the programmes to include: cultivation of 15,500 seedlings through community nurseries and distribution of 3,500 clean cooking stoves in Bauchi State to reduce emissions and improve health.
He stated that 256 community volunteers, including persons with disabilities (PWDs) were also trained in briquette production and other nature-based solutions.
“Oxfam also supported the development of new climate laws, unlocked ?15.5 billion in local climate financing and expanded climate-smart livelihoods, such as beekeeping, briquette production and tree planting.
“Women beneficiaries reportedly earned between ?150,000 and ?300,000 through climate-friendly enterprises.
“The programmes reached more than 10 million Nigerians through the “Follow the Money” media platforms, while civic participation was strengthened through Freedom of Information coalitions, youth civic clubs and improved security commitments from the police,” he said.
Makina added that the initiative also trained 500 journalists in climate reporting, mobilised 664 citizens through the Africa Climate Caravan and empowered PWDs to participate independently in agriculture and community governance.
He expressed appreciation to some implementing partners, such as Civil Society Legislative Advocacy Centre (CISLAC), Connected Development (CODE) and BudgIT Foundation, among others, saying that their support and dedication contributed to the success of the initiatives.
The country director also commended the Government of The Netherlands for funding the project.
Speaking on behalf of the partners, CISLAC’s Executive Director, Auwal Rafsanjani, said the programmes delivered ‘transformative reforms, bold advocacy and unprecedented community-led impact’ across Nigeria.
Rafsanjani noted that the projects strengthened tax justice campaigns, boosted transparency in the extractive sector, improved compliance with beneficial ownership rules and expanded state-level advocacy platforms.
He said that sustained civil advocacy also helped in shaping the passage of four new tax laws and contributing to government’s approval of over 1 billion dollar for the upgrade of major ports.
Rafsanjani stressed that although donor funding had ended, the responsibility to sustain the gains now rests with Nigerians.
“The work must continue because inequalities, corruption and climate challenges remain,” he said.
While giving an overview of the project, the Programme Manager of Oxfam, Henry Ushie, said it built regulatory frameworks that mobilised communities to be proactive in demanding for the three per cent meant for them by companies.
“They were also empowered to access the money and demand for accountability and transparency on how the money was deployed, ensuring that it was ploughed back into the communities,” Ushie said.
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