The Federal Government and Access Bank Plc have called for wider adoption of artificial intelligence and digital financial solutions among Micro, Small and Medium Enterprises (MSMEs), describing technology as a key driver of Nigeria’s ambition to build a $1 trillion economy.
The position was reaffirmed during the Access Bank MSME Digital Growth Conference held in Lagos, where the lender also introduced the Access SME App, a digital platform designed to help small businesses improve operations, financial management and business growth through technology.
Government officials and business leaders at the conference stressed that MSMEs remain central to Nigeria’s economic development, urging entrepreneurs to embrace AI-powered tools to improve efficiency, expand market access and compete in an increasingly digital economy. Brandspur Banking News Desk reports that the initiative aligns with ongoing efforts to strengthen entrepreneurship and deepen digital transformation across the country.
The Senior Special Assistant to the President on Entrepreneurship Development in Communications, Innovation and Digital Economy, Chalya Shagaya, said the Federal Government views small businesses as critical contributors to the Renewed Hope Agenda, adding that artificial intelligence can help entrepreneurs automate business processes, improve customer engagement and reduce operating costs.
She also pointed to the Federal Government’s recently introduced AI policy, which includes plans to establish capacity-building hubs through the Ministry of Communications, Innovation and Digital Economy to equip young entrepreneurs with digital skills required for modern business operations.
Data presented during the conference highlighted the significant contribution of MSMEs to Nigeria’s economy. According to figures cited by the Executive Director of the University of Lagos Business School, Prof. Sunday Adebisi, the country has between 39 million and 42 million MSMEs, accounting for about 84 percent of employment and nearly half of national Gross Domestic Product.
Despite their economic importance, he noted that many small businesses struggle to survive beyond their first year, urging entrepreneurs to leverage artificial intelligence for workflow automation, market analysis and better decision-making to improve long-term sustainability.
Industry experts participating in panel discussions also explored practical approaches to digital transformation, cloud adoption, financial technology integration and strategies for navigating Nigeria’s evolving business environment. The sessions featured executives from Access Holdings, Mastercard, Huawei Nigeria, the World Trade Center Lagos and other organisations.
Access Bank said it will continue expanding its support for MSMEs through digital solutions, business advisory services and improved access to financing, reinforcing its commitment to helping small businesses scale sustainably and contribute more significantly to Nigeria’s economic growth.
