FG Backs SMEs for Economic Growth and Job Creation

Taiwo Oyedele, minister of finance and coordinating minister of the economy, stated that the federal government is supporting small businesses to drive economic growth, create jobs, and promote entrepreneurship.

Oyedele made these remarks during a speech at the fourth edition of the Nigeria Sovereign Investment Authority (NSIA) Prize for Innovation (NPI) Demo Day 2026 in Abuja.

He emphasized that small and medium-sized enterprises (SMEs) are vital to the Nigerian economy, sustaining millions of livelihoods, creating jobs, and supporting economic activity across various sectors.

Oyedele highlighted the need for Nigeria to develop an economy where young people can start businesses, develop new industries, and create employment opportunities for others, rather than depend solely on existing job markets.