Nigeria’s micro, small and medium enterprises (MSMEs) are set for a significant lift as the United Nations, World Bank, and the Federal Government unveiled fresh initiatives targeting women and young people in high-growth sectors.
Speaking at the Afro-EU Garment Innovations and Sustainability Summit in Lagos, UN Women Representative to Nigeria and ECOWAS, Beatrice Eyong, urged Nigerian women to tap into the nation’s $2.5 billion fashion industry, describing it as a gateway for enterprise growth, exports, and job creation.
Meanwhile, in Abuja, the World Bank and the Federal Government announced a $70 million investment under the second phase of the Innovation Development and Effectiveness in the Acquisition of Skills (IDEAS) project, designed to close Nigeria’s widening skills gap.
World Bank Co-Task Team Leader, Dr Mistura Rufai, said the scheme will train 30,000 Nigerian youths in technical and vocational skills from 25 August, building on the 1,000 beneficiaries from its pilot phase. Participants will also gain National Skills Certification Framework recognition to improve employability and business readiness.
National Project Coordinator, Mrs Blessing Ogwu, explained that the IDEAS project is anchored on the Technical and Vocational Education and Training (TVET) framework to equip young Nigerians with skills to drive employment and stimulate MSME growth. Consultant Ndem Ndiyo added that training providers will be mandated to prioritise skills with strong commercial value.
With the UN pushing for women’s participation in fashion and the World Bank committing to youth empowerment through skills training, the twin interventions signal renewed momentum to scale up Nigeria’s MSMEs and unlock opportunities for the country’s young entrepreneurs.
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