The National Bureau of Statistics (NBS), in partnership with the Small and Medium Enterprise Development Agency of Nigeria (SMEDAN) has launched a Research Report based on its survey of Micro, Small and Medium Enterprises (MSMEs) in Nigeria. This report is an update on its 2013 Research Report on MSMEs.
The findings from the research are quite vital to understanding the current economic realities regarding establishing a business in Nigeria. Furthermore, establishing a contrast between this SMEDAN report and the 2013 version helps to provide an idea of the level of progress that has been achieved regarding ensuring that the Nigerian environment is more conducive for businesses.
The 167-page report can be found here
The findings of the report are presented through six (6) sections, starting off with an overview of the Nigerian MSME sub sector and concluding with key findings and recommendations provided by the Research team.
This section introduces the research report by establishing how the research study was conceived, the objectives of the study and the relevance of MSMEs to the development of the Nigerian economy.
2. Overview of the Micro, Small and Medium Enterprises Sub-Sector
This section establishes a foundation for the research. Through the presentation of different figures and previous findings, it establishes the importance of MSMEs to the Nigerian economy. It also presents a background regarding the issues that have affected MSME growth in Nigeria through the years. This section also shows the journey of SMEDAN from its establishment as a response to tackling the problems of MSMEs in a coordinated fashion through its efforts over time to tackle these problems. Other initiatives setup by the government to assist MSME development over the years as well as its current efforts such as developing the National Collateral Registry for MSMEs and the establishment and progress of the Development Bank of Nigeria which was created to address financing challenges amongst MSMEs are discussed in depth in this section.
3. MSMEs Survey Design
This section establishes the coverage, scope and other intricate details about the different considerations explored while undergoing this research project. It is important to note that this research covered the 36 states of Nigeria and the Federal Capital Territory, Abuja. This section also establishes the types of sectors and sub-sectors covered, the households sampled, the classification of enterprises surveyed into Micro, Small and Medium, and finally, those involved in conducting and writing the survey.
4. Data Analyse â Formal Sector/ Small and Medium Enterprises SMEs
This section analyses the data found and explains what they mean. It presents several key figures discovered such as the amount of MSMEs owned by the different genders, the ownership structures of MSMEs found in Nigeria, the age distribution of entrepreneurs, the status of Business registration of MSMEs in Nigeria, the level of employment opportunities generated by different MSMEs in the country and other important findings.
5. Informal Sector/ Micro Enterprises: Year 2017 Results and Trend Analysis â
This section focuses on establishing the changes in circumstance in the MSME sector through distinguishing the findings of the 2017 research from those of the 2013 research. Some of these key findings include the increased number of MSMEs present in the space as well as the large drop in the number of Medium Enterprises within the period of 2013 and 2017.
6. Key Findings/ Recommendations â
This section shows the key findings from the survey in a simple table and provides recommendations for how policies can be effected to positively change the space to make the Nigerian MSME environment more conducive for MSMEs.
This research report is key to understanding the Nigerian MSME space and is a must read for anyone interested in developing an understanding of the state of MSMEs in Nigeria. Read the report here