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Miva Open University has released its MSMEs Year-End Report 2025 and Outlook for 2026, offering fresh insights into the realities facing Micro, Small, and Medium Enterprises (MSMEs) across Nigeria.
The report is based on a nationwide survey conducted between September and November 2025, a follow-up to the half-year MSME survey report published in August 2025. A total of 210 questionnaires were distributed across Nigeria’s six geopolitical zones, with 180 valid responses received. This represents a strong response rate of 85.7 per cent and reflects the willingness of Nigerian business owners to share their experiences.
Findings from the report show that Nigerian MSMEs are operating under intense pressure. Over 86 per cent of respondents identified inflation and rising operating costs as their biggest challenge. High energy prices, transportation costs, and currency instability continue to reduce profit margins and limit business expansion.
Weak consumer demand also remains a major concern. More than 83 per cent of business owners reported declining sales, largely due to reduced household purchasing power. Many consumers are cutting back on nonessential spending, forcing businesses to rethink pricing, packaging, and product offerings.
Another key obstacle is market access. About 81 per cent of respondents said they struggle to reach new customers beyond their local areas, citing poor logistics, high distribution costs, and limited access to organised markets.
Despite these challenges, the report highlights the resilience of Nigerian MSMEs. Many businesses are adopting digital tools, exploring online sales channels, sourcing locally, and diversifying their products to survive the current economic climate.
Speaking on the report, the Vice-Chancellor of Miva Open University, Prof. Tayo Oladiran Arulogun, noted that MSMEs remain Nigeria’s strongest economic asset. He said, “The National MSME Survey Report, prepared by the Department of Business Management at Miva Open University under the leadership of Dr Femi Akinbola, captures that spirit with clarity and conviction. It conveys a much larger story than the data. It tells the story of perseverance in the face of adversity, creativity in the face of constraints, and determination-driven progress.”
He emphasised the need for targeted policies, improved infrastructure, digital empowerment, and better access to finance to help small businesses move from survival to sustainable growth.
Looking ahead to 2026, the report expresses cautious optimism. It points to increased digital adoption, improving access to finance through fintech solutions, and gradual economic stabilisation as potential drivers of recovery for MSMEs.
The Miva MSMEs Year-End Report 2025 and Outlook for 2026 serves as a call to action for policymakers, investors, and development partners to support the businesses that form the backbone of Nigeria’s economy.
You can download a copy of the Miva MSMEs Year-End Report 2025.
About Miva Open University
Miva Open University is Nigeria’s first operational private open university, licensed by the National Universities Commission (NUC). The institution is committed to providing flexible, accessible, and high-quality education while supporting research that drives national development.
For media enquiries:
Email: femi.akinbola@miva.university
Website: www.miva.edu.ng
