MSME segment is an important engine of growth, employment and social cohesion in Nigeria. However, similar to MSME experience globally, the sector continues to face harsh business environment. The MSME Study in Nigeria titled: Strengthening Access to Finance for MSMEs in Nigeria, which covered over 3,000 entrepreneurs, 18 banks and government/ multilateral agencies, was geared towards investigating the critical challenges faced by this segment, the factors limiting key stakeholders from supporting the segment and government’s initiatives to develop this critical sector.

This study has identified the three top challenges facing MSMEs operating in Nigeria as: non- conducive enabling environment (80%), inconsistent government policies (56%) and lack of access to finance/ capital (45%).