Stanbic IBTC, Abia State partner to deepen MSME growth

By Peter Egwuatu

Stanbic IBTC Bank has affirmed its commitment to accelerating the growth of Micro, Small and Medium Enterprises (MSMEs) across Nigeria through strategic partnerships with state governments and institutions committed to creating enabling environments for businesses to thrive.

The bank made this commitment during its Nigeria Business Summit Regional Tour held in Aba, in partnership with the Abia State Government, to deliver business enlightenment sessions, funding masterclasses, enterprise advisory services and capacity-building programmes for entrepreneurs.

Speaking at the event, the Commissioner for Industry and SMEs, Mazi Michael Enyinnaya Akpara, reiterated Abia State Government’s commitment to building one of Nigeria’s most competitive enterprise ecosystems through deliberate policy reforms and strategic initiatives.

According to him, the State is currently developing a comprehensive MSME Policy to provide a clear framework for enterprise development, while also establishing a statewide MSME Directory to improve business visibility and access to investment opportunities. He further announced plans for the National Brands Development and Made-in-Nigeria Project (Abia Expo 2026), an initiative designed to showcase the ingenuity of Nigerian businesses, strengthen locally manufactured products and position Abia as Nigeria’s preferred destination for quality local production.

“Abia State is intentionally building an ecosystem where businesses can start, grow, compete and access markets both locally and internationally. Through the development of the State MSME Policy, the MSME Directory, the National Brands Development and Made-in-Nigeria Project, we are laying the foundation for sustainable enterprise growth. Partnerships with organisations like Stanbic IBTC are critical to achieving this vision because government cannot build a thriving MSME ecosystem alone,” he said.

Commenting on Stanbic IBTC’s broader role in supporting Nigerian businesses, Chuma Nwokocha, Chief Executive, Stanbic IBTC Holdings, said: “Businesses do not scale in isolation. They scale when they have access to capital; to intelligence; and to the platforms that connect them to wider markets.”

Nwokocha further stated: “We will accelerate MSME graduation through value chain finance, structured lending, and the credit and advisory capability that turns promising businesses into durable ones. And we will invest in the sectors that will define Nigeria’s next decade.”

Also speaking, Executive Director, Business and Commercial Banking, Stanbic IBTC Bank, Remy Osuagwu, noted that the company is taking a more deliberate, nationwide approach to supporting entrepreneurs by bringing practical business support closer to where businesses operate.