By Bayo Wahab
Dr. Femi Egbesola, President of the Association of Small Business Owners of Nigeria (ASBON), has criticised the federal government for insufficient engagement with private sector stakeholders, particularly small and medium enterprises (SMEs).
Speaking at the Vanguard Economic Discourse on Thursday, Egbesola emphasised that policies fail because they are not co-created with those directly affected.
He revealed that 85.5% of Nigeria’s SME sector consists of nano enterprises — the smallest businesses often overlooked in policymaking. Despite their economic significance, most regulations target larger enterprises, leaving nano businesses unsupported. “Government must focus on this critical sector to drive real growth,” he stated.
He lamented that intervention programs have had little impact, with few SMEs growing into medium or large-scale enterprises. “How many small businesses have become the next Dangote in 10 years? Almost none,” he said.
The ASBON president called for a structured collaboration where stakeholders are involved in policy design, implementation, and evaluation. “We don’t need pity; we need partnership. Policies should not be imposed but developed jointly,” he insisted.
Egbesola urged the government to build support systems and institutions to strengthen SMEs, noting that resilience alone is unsustainable without strategic backing. “Without inclusive policymaking, we’ll keep going in circles,” he warned.
Highlighting the frustrations among Nigeria’s SME operators, the ASBON president maintained that the Nigerian economic environment makes it difficult for small businesses to grow.
“How many small business owner has been able to migrate to medium sized and big size enterprises over the years? How many small business owners in the last 10 years have come to become a Dangotes of today, you can hardly find one,” he said.
According to him, this is a big mismatch the government needs to pay attention to. He, however, added that the government cannot understand every sector without actually sitting down with the key stakeholders.
The post Vanguard Economic Discourse: Government policies not working for businesses — ASBON president appeared first on Vanguard News.
