Nigeria’s ongoing economic reforms are entering a decisive phase. President Bola Ahmed Tinubu has unveiled the rationale behind his administration’s new ₦200 billion intervention fund for micro, small, and medium enterprises (MSMEs) and manufacturers — a strategic initiative designed to boost competitiveness, enhance productivity, and ensure shared prosperity in Africa’s largest economy.
Speaking through Vice President Kashim Shettima at the 31st Nigerian Economic Summit (NES #31) in Abuja, the President said the Manufacturing Support Scheme intervention forms part of a comprehensive reform blueprint aimed at transforming Nigeria’s business environment and empowering millions of entrepreneurs whose resilience sustains the country’s growth.
“We established a ₦200 billion intervention fund to support micro, small, and medium enterprises and manufacturers, helping them overcome structural challenges and enhance competitiveness,” Tinubu declared.
“Our expansion of digital micro-loan access has improved financial inclusion, empowering small businesses and stimulating community-level productivity.”
Inclusive Prosperity as an Economic Strategy
The President emphasized that his administration’s priority is not merely to stimulate GDP growth, but to translate macroeconomic gains into tangible social impact.
“As a people-oriented government, our priority remains restoring hope to the unemployed, the poor, the excluded, and the vulnerable,” Tinubu said.
“We have created pathways for young Nigerians to access grants, loans, and equity investments of up to $100,000 to scale their enterprises, innovate, and build sustainable livelihoods.”
He added that the administration’s economic vision is guided by balance — “between economic logic and public expectation.”
The Manufacturing Support Scheme intervention fund, he explained, aligns with the government’s ambition to industrialize Nigeria, expand domestic production, and build an inclusive growth model anchored on MSMEs, which account for 96% of Nigerian businesses and 84% of employment, according to SMEDAN data.
Economic Reforms Beginning to Deliver Tangible Results
President Tinubu noted that the government’s reforms are beginning to yield measurable outcomes across key sectors, with the economy showing clear signs of stabilization.
He pointed to Nigeria’s GDP growth of 4.23% in September 2025, which surpassed projections from multilateral agencies and independent analysts.
“Our economic reforms have started yielding tangible results. These decisions are not accidental — they reflect deliberate choices guided by sound economic wisdom and the pursuit of stability.”
The President said that policy moves such as fuel subsidy removal and foreign exchange market unification have already started restoring investor confidence and stabilizing public finances.
“The stability in our foreign exchange market is not accidental. It reflects deliberate decisions guided by the same economic wisdom that gatherings such as this embody,” he noted.
The ₦200 Billion Fund: A Blueprint for Resilience and Competitiveness
The ₦200 billion Manufacturing Support Scheme intervention fund targets two critical sectors — manufacturing and micro, small, and medium enterprises — both of which form the backbone of Nigeria’s non-oil economy.
The fund, according to Tinubu, will:
- Provide accessible financing for MSMEs to scale production capacity.
- Support manufacturers in addressing energy and logistics challenges.
- Promote innovation and digital transformation through micro-loan expansion.
- Enable export readiness and industrial linkages for global competitiveness.
- Create employment corridors for millions of Nigerian youth.
The initiative is structured to complement the Renewed Hope Agenda, the administration’s long-term strategy to build a diversified, resilient, and inclusive economy.
Nigerians’ Patience and Sacrifice: The Bedrock of Reform
Tinubu credited the early successes of his administration to the resilience and sacrifice of Nigerians, acknowledging that the path to stability has been challenging but necessary.
“The progress we have made in stabilising the economy and rescuing public finances is owed to the patience and understanding of Nigerians,” he said.
“Along with subsidy removal, these decisions have rescued our public finances, stabilised the economy, and reassured investors at home and abroad. The better days we promised are already within sight.”
He assured that the dividends of sacrifice will materialize in the form of lower inflation, stronger fiscal health, and improved access to jobs and capital.
Fiscal Gains and Revenue Growth: Rebuilding Economic Confidence
Highlighting fiscal performance, President Tinubu revealed that Nigeria’s economy expanded to ₦372.8 trillion in 2024, up from ₦309.5 trillion in 2023.
Revenue generation also recorded a historic leap:
- ₦25.2 trillion in 2024, up from ₦19.9 trillion in 2023.
- By August 2025, total revenue had reached ₦27.8 trillion, surpassing the projected target of ₦18.32 trillion.
These gains, Tinubu said, are proof that fiscal and monetary reforms are working.
“These triumphs and projections are guided by our promise to grow Nigeria’s debt service-to-revenue ratio from 97% to a sustainable level,” he explained.
“Today, this ratio has reduced to less than 50%.”
The improved fiscal outlook, he added, has earned Nigeria upgraded sovereign ratings from Fitch (B, stable outlook) and Moody’s (B3, stable outlook), citing “improved economic foresight and clearer policy direction.”
Non-Oil Revenue and Tax Reforms: Deepening the Fiscal Base
The President also announced major progress in non-oil revenue mobilization, which grew 411% year-on-year in August 2025.
Nigeria’s tax-to-GDP ratio now stands at 13.5%, up from 7% a few years ago — a sign of improved tax compliance and diversification away from oil dependence.
Tinubu attributed this to the four new Tax Reform Acts recently signed into law, which aim to simplify tax processes, protect low-income earners, and promote fairness in corporate taxation.
“These reforms protect low-income earners, ensure fairness in corporate taxation, and strengthen digital innovation in tax administration,” he said.
“By promoting transparency and coordination among all tiers of government, we are laying the foundation for a fairer and more prosperous Nigeria.”
Unlocking Youth Potential Through Digital Inclusion
Central to Tinubu’s inclusive growth agenda is youth empowerment through technology and innovation as part of the Manufacturing Support Scheme.
He reaffirmed that the administration is expanding access to digital micro-loans and venture financing, enabling small entrepreneurs to participate in the new digital economy.
Under the Renewed Hope Start-up Framework, over three million Nigerian youths are expected to benefit from micro-grants and technology skill programs in areas such as AI, fintech, agriculture, and renewable energy.
“We have created corridors for young Nigerians to access opportunities that were previously out of reach,” Tinubu said. “Our youth will drive Nigeria’s next industrial revolution.”
Restoring Investor Confidence and Global Perception
The President reiterated that investor sentiment toward Nigeria has strengthened, reflected in renewed capital inflows, credit upgrades, and investor optimism across key sectors.
“Both Fitch and Moody’s praised our improved foresight and policy direction. These developments are evidence that Nigeria is regaining the trust of global markets,” Tinubu noted.
Analysts say these macroeconomic gains could translate into $20–$30 billion in new private investments over the next three years, especially in energy, fintech, and infrastructure.
Security, Stability, and the Business Environment
The Chairman of the Nigerian Economic Summit Group (NESG), Mr. Olaniyi Yusuf, commended the Federal Government’s economic reforms but stressed that security remains the foundation of investment and productivity.
“Without peace, reforms cannot take root, investors cannot take risks, and Nigerian youths cannot find opportunities for prosperity,” Yusuf said.
“Tackling insecurity in both rural and urban areas is vital to unlocking productivity and restoring confidence.”
Yusuf noted that while reforms have improved macroeconomic fundamentals, sustained security and regulatory consistency will be vital to attracting long-term capital.
BRANDECONOMY ANALYSIS: Balancing Reform, Inclusion, and Credibility
Tinubu’s ₦200 billion intervention fund towards the Manufacturing Support Scheme signals a strategic pivot in Nigeria’s economic management — from short-term stabilization to long-term inclusion and competitiveness.
Three key insights stand out:
1️⃣ MSMEs as the Growth Engine
By targeting MSMEs and manufacturers, the administration is empowering the productive base of the economy, not just financial markets. This aligns with global best practices, where small enterprises drive up to 60% of GDP and 70% of employment in developing nations.
2️⃣ Fiscal Reforms with Social Focus
Tinubu’s strategy blends fiscal consolidation with social intervention — cutting waste while expanding access to credit and opportunity. This approach contrasts with past reforms that prioritized austerity over inclusion.
3️⃣ Nigeria’s Global Reintegration
Improved ratings, rising non-oil revenues, and stronger investor sentiment signal that Nigeria’s reforms are gaining credibility. However, consistent policy execution, transparency, and infrastructural investment remain critical to sustain momentum.
BRANDECONOMY TAKEAWAY
Nigeria’s ₦200 billion MSME and Manufacturing Support Scheme fund is more than a fiscal policy — it is an economic reawakening plan. It reflects a government shifting from managing scarcity to engineering productivity and innovation.
If efficiently implemented, this initiative could unlock millions of jobs, expand Nigeria’s tax base, and ignite the industrial revival the nation urgently needs.
As BRANDECONOMY notes, economic transformation is not built on policies alone, but on the courage to align reform with inclusion.
Tinubu’s challenge now is ensuring that execution matches ambition — because in Nigeria’s new economy, credibility will be the strongest currency.
