In a bold move to strengthen the Micro, Small, and Medium Enterprises (MSME) sector, LAPO Microfinance Bank (LAPO MfB), the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), and the Standards Organisation of Nigeria (SON) have jointly hosted a Sensitization Workshop on SON’s Product Identification for MSMEs.
The workshop, held at the magnificent LAPO Place, headquarters of LAPO Microfinance Bank in Lagos, brought together entrepreneurs, industry stakeholders, and regulatory authorities to deepen awareness on product standards, identification systems, and access to financial and non-financial support for MSMEs. The initiative underscores the shared commitment of the three institutions to empower Nigerian MSMEs with the tools to compete locally and globally.
In his goodwill message, Mr. Oluremi Akande, Director of Marketing and Communications, LAPO MfB, reaffirmed the Bank’s mission to promote grassroots empowerment:
“At LAPO, we recognize that finance alone is not enough. Entrepreneurs need knowledge and the assurance that their products meet acceptable standards. This partnership ensures MSMEs gain access to finance, capacity building, and product quality support that guarantees sustainability.”
Also speaking, Bunmi Kole-Dawodu, Deputy Director, SMEDAN, Lagos State Office, commended the collaboration, noting:
“MSMEs are the backbone of Nigeria’s economy. By working with SON and LAPO, we are bridging gaps that have held small businesses back – especially in product identification and access to finance. This workshop is a step towards creating stronger, more competitive MSMEs.”
Efosa Evbuomwan, Head of Research and Business Development, LAPO Microfinance Bank, highlighted the strategic value of the partnership:
“This collaboration reflects LAPO’s research-driven approach to MSME development. By combining financial inclusion with knowledge on product identification and standardization, we are building the capacity of small businesses to thrive in both domestic and international markets.”
In her remarks, Ezeudu Loveline, representing the Standards Organisation of Nigeria (SON), stressed the importance of standards:
“Product identification and standardization are essential to protecting consumers and enhancing MSME competitiveness. Through this collaboration, we are equipping small businesses with the knowledge to comply with national and international standards, while expanding their market opportunities.”
The sensitization workshop featured practical sessions on SON’s product identification framework, discussions on MSME financing opportunities, and capacity-building presentations by resource persons from the partner organizations.
The tripartite partnership is expected to continue with more joint interventions targeted at financing, training, and standardization support for MSMEs across Nigeria.
