Mastercard and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) convened entrepreneurs, financial institutions, policymakers and ecosystem partners at the SMEDAN MSME Growth Forum to explore the practical tools, collaborations and capabilities Nigerian small businesses need to grow in the digital age.
The collaboration builds on the Federal Ministry of Industry, Trade and Investment’s support for the design and piloting of a national MSME Digitization Programme, which aligns with the Government’s priorities for advancing Nigeria’s digital economy and supporting SME development.
Through the MoU, Mastercard and SMEDAN will explore opportunities to collaborate on initiatives that support MSME digitization and growth. Together, the organizations aim to support Nigerian SMEs adopt digital tools, improve operational efficiency and participate more fully in the formal economy.
Tara Nathan, executive vice president, Growth Segments, Mastercard, said: “Small businesses are the engine of economic growth, job creation and innovation, but many entrepreneurs continue to face barriers to digitization, skills development and access to finance.
“Through the framework established by this MoU, Mastercard and SMEDAN will explore opportunities to support Nigerian entrepreneurs as they build stronger and more resilient businesses. By equipping SMEs with the tools, capabilities and connections they need to participate in the digital economy, we are unlocking new opportunities for growth, productivity and long-term success.”
Charles Odii, director general, SMEDAN, said: “Nigerian entrepreneurs need more than encouragement to digitize. They need practical tools, skills and support that fit the realities of running a small business. Our collaboration with Mastercard creates a framework for bringing these capabilities closer to the businesses that need them, while coordinating engagement with government and ecosystem partners.”
Kari Tukur, country manager, West Africa, Mastercard, said: “SMEs are central to Nigeria’s economic future, and supporting their growth requires more than access to funding alone. Business owners increasingly need digital payment capabilities, practical skills, market access and trusted partners to help them grow sustainably.
“The MSME Growth Forum was designed to bring these conversations and solutions together, while our collaboration with SMEDAN reinforces our long-term commitment to helping Nigerian entrepreneurs participate and succeed in an increasingly digital economy.”
The forum featured a keynote address from Nathan, who also joined Aisha Rimi, Executive Secretary and Chief Executive Officer of the Nigerian Investment Promotion Commission (NIPC), for a fireside discussion titled “Informal to Inclusive: Payments, Policy and the Path for Nigeria’s Small Businesses.”
This was followed by a panel discussion titled “Beyond Credit: The Solutions Nigerian SMEs Need to Grow and Scale” featuring representatives from Access Bank, Wema Bank, AFEX and SMEDAN, moderated by Kari Tukur, country manager, West Africa, Mastercard.
The two engagements explored how public-private collaboration, digital payments and enabling policy frameworks can help informal businesses transition into the formal economy, improve resilience and access new growth opportunities; while also examining the practical barriers facing Nigerian entrepreneurs, highlighting the need for a broader support ecosystem that extends beyond access to credit.
Small business attendees also took part in practical masterclasses designed to build business and digital capabilities. Sessions covered digital marketing strategies to help SMEs attract and retain customers online, as well as solutions supporting entrepreneurs across key sectors, including agriculture, enabling them to improve productivity, expand market access and build more sustainable businesses.
The collaboration comes as Nigerian entrepreneurs increasingly identify digital capabilities, skills and finance as essential to growth. According to Mastercard’s 2026 SME Confidence Index, 100% of Nigerian SMEs surveyed consider digital and online payments vital to growing their businesses, while 78% identify digitizing their business as a key priority, 79% prioritize training and upskilling staff, and 69% are seeking credit to expand.
The forum reflects Mastercard and SMEDAN’s shared interest in exploring opportunities to support the competitiveness of Nigerian SMEs through innovation, capability building and collaboration. By aiming to bring together policymakers, financial institutions, business leaders and entrepreneurs, the initiative seeks to create practical pathways for small businesses to participate more fully in Nigeria’s digital economy.
