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Nigeria has 41 million small businesses

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Nigeria has 41 million small businesses and those employ 59 million people.

The Federal Government has revealed that 59 million Nigerians are currently employed by 41 million Micro, Small and Medium Enterprises (MSEMEs).

This was disclosed by Dr Dikko Radda, Director-General of the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) in Nigeria on Tuesday at the launch of a five-day programme on National Business Skills Development Initiative (NBSDI).

The SMEDAN boss also stated that the most recent national MSMEs survey of 2017 revealed that there are 41.5 million MSMEs employing over 59.6 million Nigerians, representing 76.5% of the nation’s labour force and contributing 49.8 % to nominal Gross Domestic Product and exports.