The University of Lagos (UNILAG), in partnership with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), has convened a high-level forum to chart a new course for micro, small, and medium enterprises (MSMEs). The initiative seeks to drive innovation, accelerate growth, and position Nigerian enterprises for stronger global participation.
Hosted at UNILAG’s Human Resources Development Centre, the event brought together government officials, academics, entrepreneurs, financial institutions, and industry leaders under the theme “Catalyzing MSME Growth and Innovation through Strategic Partnerships Aligned with Future-Ready Agenda.” The central message was clear: collaboration is the foundation of MSME transformation in Nigeria.
In her opening speech, UNILAG Vice-Chancellor, Professor Folasade Ogunsola, highlighted the vital role of universities in fostering industry-aligned innovation. She explained that UNILAG’s research approach has shifted from being academically centered to solving practical, industry-driven problems—what she termed a move from “inside-out” to “outside-in.” This, she noted, ensures that student research generates market-ready solutions and supports MSMEs through manpower and skills development.
Addressing Nigeria’s demographic realities, she pointed out that over 150 million Nigerians are under 30 years old, presenting both a challenge and an opportunity. She stressed that with the right infrastructure and learning platforms, UNILAG is determined to produce graduates who are self-reliant, industry-ready, and capable of fueling the economy through innovation and entrepreneurship.
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Representing SMEDAN’s Director-General, Lagos State Manager Dr. Olubunmi Kole-Dawodu reaffirmed the agency’s commitment to creating a more enabling MSME environment. He emphasized the need for simplified regulatory processes, increased business formalization, and integration of research and innovation into enterprise growth. He described the UNILAG-SMEDAN collaboration as a significant milestone in promoting knowledge-driven businesses and urged MSME operators to adopt partnerships as survival strategies rather than working in isolation.
Delivering the keynote, Deputy President of the Lagos Chamber of Commerce and Industry (LCCI), Engr. Leye Kupoluyi, declared that partnerships are no longer optional but vital for MSMEs to survive and thrive in today’s competitive, digital-first economy. He underscored how Nigerian firms such as Paystack, Flutterwave, and Psaltery International successfully leveraged collaborations to scale operations, attract global investment, and penetrate international markets. Kupoluyi called for stronger linkages among academia, government, and the private sector to connect MSMEs with technology, finance, and mentorship.
A panel discussion further dissected the challenges holding back MSMEs, including limited access to finance, low levels of digital adoption, and poor market linkages. Panelists featured experts from SMEDAN, the Industrial Training Fund (ITF), UNILAG Microfinance Bank, and CerviTech—a health-tech startup established by Professor Ashiyat Akodu of UNILAG’s College of Medicine. Collectively, they stressed the need for innovative financing models, policy interventions, and deeper academic-industry collaborations to close the gaps.
The discussions reinforced the idea that isolated support is insufficient for MSMEs. Instead, what Nigeria’s enterprises require are structured ecosystems of partnerships that bring together research, funding, training, and access to modern technology. Stakeholders concluded that anchoring MSMEs in such ecosystems will unlock greater competitiveness, foster resilience, and ensure long-term sustainability for Nigeria’s enterprise sector.
