The British Council, working with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) and backed by the Investment Climate Reform (ICR) Facility, has launched the Impact Advisory Group (IAG). This platform is aimed at sustaining inclusive business reforms and improving financial access for Micro, Small, and Medium Enterprises (MSMEs) across Nigeria.
The initiative was introduced during the National Roundtable on MSME Financing at the Lagos Continental Hotel. The event gathered policymakers, financial institutions, development partners, and private sector stakeholders to explore strategies for opening up inclusive financing opportunities for MSMEs.
Donna McGowan, Country Director of the British Council, reaffirmed the Council’s commitment to supporting Nigeria’s reform ecosystem and advancing inclusive economic growth. She said the creation of the IAG reflects the Council’s broader mission to empower women and young people with the skills and resources needed to succeed as entrepreneurs.
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“Women’s economic empowerment is a critical driver of sustainable growth. The shared vision of a more prosperous and peaceful world can only be achieved when women have access to the right opportunities and financial resources to grow their businesses,” McGowan said.
Representing the Director General of SMEDAN, Dabureje Onesi-Lawani, Director of the DG’s Office and Monitoring & Evaluation, praised the partnership with the British Council and the ICR Facility. He stressed that sustaining the gains from previous reform efforts was essential and called for stronger collaboration to close the estimated N3 trillion funding gaps facing Nigeria’s MSME sector.
A key moment at the event was the signing of a Memorandum of Understanding (MoU) between SMEDAN and the IAG’s implementing partners, which include EFInA, FATE Foundation, Sterling One Foundation, Africa Venture Philanthropy Alliance, Impact Investors Foundation, and Octoville Development Company.
Chikodi Onyemerela, Director of Programmes at the British Council, commended the partners for their collaboration and emphasised the importance of sustained, multi-sectoral efforts to advance inclusive MSME financing nationwide.
Stakeholders at the event pledged to take concrete steps to expand MSME access to finance, promote gender-responsive policies, and strengthen coordination among government agencies, development institutions, and the private sector.
