The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) has engaged the International Finance Corporation (IFC), a member of the World Bank Group, on opportunities to improve access to finance for Micro, Small and Medium Enterprises (MSMEs) in Nigeria.
The engagement formed part of preparations for NACCIMA’s forthcoming MSME Multi-Stakeholder Forum scheduled for November 2026 and provided an opportunity to explore potential areas of partnership with IFC in addressing some of the longstanding financing constraints facing Nigerian businesses.
Discussions focused on innovative financing mechanisms, agricultural finance, green finance and institutional reforms that could improve the ability of MSMEs to access sustainable and longer-term capital.
During the meeting, NACCIMA presented a number of proposals aimed at expanding the pool of finance available to MSMEs beyond conventional bank lending.
These included opportunities to leverage the capital market through wholesale bonds, the securitisation of existing MSME loan portfolios, and the mobilisation of institutional capital from pension funds, private equity investors and insurance companies.
NACCIMA noted that broadening the sources of MSME finance could help address the financing gap faced by many Nigerian enterprises, particularly businesses that require patient or longer-term capital to grow, invest in productive assets and expand their operations.
The Association emphasised the need for financial structures that can connect institutional investors with viable MSMEs while appropriately managing risk.
The engagement also considered opportunities in green finance, particularly for electric mobility and other emerging areas of the green economy.
NACCIMA highlighted the need to develop financing mechanisms capable of supporting businesses transitioning towards cleaner technologies and creating new investment opportunities within the country’s evolving sustainability landscape.
The Association also raised the challenge of providing longer-term finance to smallholder farmers, whose financing requirements often do not align with short-term commercial lending structures.
Strengthening access to agricultural and irrigation finance was identified as an important area for further engagement, particularly in supporting productivity, value-chain development and food security.
Another issue raised during the engagement was the need to modernise and strengthen Nigeria’s business-registration ecosystem.
NACCIMA highlighted the importance of improving the Corporate Affairs Commission (CAC) registry and expanding business formalisation, noting that only about 7 million businesses are registered out of an estimated 40 million MSMEs operating in Nigeria.
Greater formalisation, the Association noted, can help more enterprises build credible business records, access finance, participate in government and corporate supply chains and take advantage of broader market opportunities.
During the discussions, IFC noted that access to finance represents more than half of its portfolio and expressed willingness to channel NACCIMA’s proposals through its internal structures for further consideration.
IFC also indicated that discussions could continue through its advisory arm, creating opportunities to examine specific areas in which technical assistance, financial-sector development or partnerships could support improved MSME financing.
In support of the forthcoming MSME Multi-Stakeholder Forum, IFC offered to assist NACCIMA in identifying an appropriate speaker for the November event.
The Corporation also offered to facilitate introductions to relevant stakeholders working in agricultural and irrigation finance, providing a basis for further discussions around financing solutions for the agricultural sector.
The engagement forms part of NACCIMA’s broader efforts to bring together financial institutions, government agencies, development partners, investors and the organised private sector to address barriers limiting MSME growth.
Through the forthcoming MSME Multi-Stakeholder Forum, NACCIMA aims to deepen these conversations and identify practical interventions capable of improving access to appropriate financing for Nigerian enterprises.
NACCIMA reaffirmed its commitment to advancing innovative financing solutions, stronger institutional partnerships and reforms that enable MSMEs to invest, expand and create employment.
The Association will continue to engage IFC and other development and financial-sector partners towards building a more inclusive financing ecosystem that supports sustainable private-sector growth in Nigeria.
