Stanbic IBTC Bank has reaffirmed its commitment to driving the expansion of Micro, Small and Medium Enterprises (MSMEs) in Nigeria by strengthening collaborations with state governments and institutions focused on creating a supportive business environment.

The commitment was restated during the Stanbic IBTC Nigeria Business Summit Regional Tour in Aba, organised in partnership with the Abia State Government. The event featured business enlightenment sessions, funding masterclasses, enterprise advisory services and capacity-building programmes designed to equip entrepreneurs with practical tools for business growth.

Addressing participants, the Abia State Commissioner for Industry and SMEs, Mazi Michael Enyinnaya Akpara, reaffirmed the state government’s resolve to establish one of Nigeria’s most competitive enterprise ecosystems through targeted reforms and strategic initiatives.

He disclosed that the state is developing a comprehensive MSME Policy to provide a structured framework for enterprise development. According to him, plans are also underway to establish a statewide MSME Directory aimed at improving business visibility and expanding access to investment opportunities.

Akpara further announced preparations for the National Brands Development and Made-in-Nigeria Project (Abia Expo 2026), an initiative intended to showcase Nigerian innovation, promote locally manufactured products and position Abia as Nigeria’s preferred destination for quality local production.

“Abia State is intentionally building an ecosystem where businesses can start, grow, compete and access markets both locally and internationally. Through the development of the State MSME Policy, the MSME Directory, the National Brands Development and Made-in-Nigeria Project, we are laying the foundation for sustainable enterprise growth. Partnerships with organisations like Stanbic IBTC are critical to achieving this vision because government cannot build a thriving MSME ecosystem alone,” he said.

Speaking on Stanbic IBTC’s commitment to business development across Nigeria, the Chief Executive of Stanbic IBTC Holdings, Chuma Nwokocha, emphasised the importance of providing businesses with the resources needed to scale.

“Businesses do not scale in isolation. They scale when they have access to capital; to intelligence; and to the platforms that connect them to wider markets.”

Nwokocha further stated: “We will accelerate MSME graduation through value chain finance, structured lending, and the credit and advisory capability that turns promising businesses into durable ones. And we will invest in the sectors that will define Nigeria’s next decade.”

Also speaking at the summit, the Executive Director, Business and Commercial Banking at Stanbic IBTC Bank, Remy Osuagwu, said the bank is adopting a more deliberate nationwide strategy to support entrepreneurs by bringing practical business support closer to where businesses operate.

The regional summit forms part of Stanbic IBTC’s broader efforts to expand access to business financing, advisory services and capacity-building initiatives for entrepreneurs while strengthening partnerships that promote sustainable enterprise development across Nigeria

Source: Vanguard