By Peace Udugba -The Daily Torch Media
Nigeria’s micro, small and medium enterprises (MSMEs) remain vital to jobs, household incomes and economic growth, accounting for 96.9 per cent of businesses, 87.9 per cent of employment, 46.32 per cent of GDP and 6.21 per cent of exports, according to NBS/SMEDAN figures cited by PwC Nigeria.
Yet, Nigerian entrepreneurs continue to battle high operating costs, inadequate finance, unreliable electricity, multiple taxes and weak consumer purchasing power. PwC’s 2024 MSME survey, based on 557 operators across 13 sectors, identified access to finance and energy costs among the major challenges confronting businesses.
For many SMEs, the challenge is therefore not simply obtaining a loan. Proper financial records, digital tools, business knowledge, market access and affordable banking services can determine whether an enterprise survives or scales.
This is where Fidelity Bank has positioned its SME proposition around more than conventional lending.
The bank combines financing with digital solutions, business advisory services, capacity building and market-access initiatives. Its SME Hub in Gbagada, Lagos, provides training, networking and advisory facilities, while its masterclasses offer practical guidance on pricing, digital growth and expansion.
In July 2025, Fidelity Bank launched its SME Empowerment Programme, equipping 100 growth-ready businesses with ERP-enabled POS systems, bookkeeping support, inventory tools, branding assistance and six months of post-installation monitoring at no cost to beneficiaries.
The bank has also supported the disbursement of Federal Government MSME intervention funds and partnered with SMEDAN to expand financing and market opportunities for Nigerian businesses.
In 2026, Fidelity Bank received the Development Bank of Nigeria Service Ambassadors Award for highest impact on MSMEs accessing credit for the first time.
For Nigeria’s entrepreneurs, the message is increasingly clear: the right banking relationship can provide more than money—it can provide the tools, knowledge and connections needed to turn resilience into sustainable growth.
Tags: Nigerian SMEs, MSMEs Nigeria, Fidelity Bank, SME financing, SME banking, Nigerian businesses, entrepreneurship, business growth, SME support, small businesses Nigeria
