MSMEs Analysis Report
Policy Recommendations
Main policy recommendations proposed are a review of the system of
classification of business-particularly from the MSME National
Policy; and targeted policy implementation for each classification to
address strengths and challenges of each business type.
Re-classification:
Micro enterprises are the majority of businesses in Nigeria, however this
large sub-sector can still be further broken down based on pro-
establishment behaviour (registration, turnover, etc.)
Introduction of "one-man business"/freelancers whose main objective is
self-sustenance.
Introduction of additional criterion in classification: employment, assets,
and formal registration.
Targeted policies by business type:
•
Micro businesses face challenges related to day-to-day running costs -
fuel, electricity, working capital
SMEs face a more complex set of challenges related to access to capital
and industrial utilities.
Policies aimed at both business types should not be generic or lumped
together.
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NATIONAL BUREAU OF STATISTICSView entire presentation