Stanbic IBTC, Abia State partner to deepen MSME growth
By Peter Egwuatu
Stanbic IBTC Bank Reaffirms Commitment to Support MSME Growth in Nigeria
ABIA, Nigeria — Stanbic IBTC Bank has pledged to enhance the growth of Micro, Small, and Medium Enterprises (MSMEs) across Nigeria through strategic partnerships with state governments and institutions that foster business-friendly environments. This commitment was highlighted at the Nigeria Business Summit Regional Tour held in Aba, in collaboration with the Abia State Government.
The summit focused on providing business enlightenment sessions, funding masterclasses, enterprise advisory services, and capacity-building programs aimed at supporting entrepreneurs.
Mazi Michael Enyinnaya Akpara, Commissioner for Industry and SMEs, emphasized the Abia State Government’s dedication to creating a competitive enterprise ecosystem through targeted policy reforms and initiatives. He announced the ongoing development of a comprehensive MSME Policy designed to establish a clear framework for enterprise growth. Additionally, the State is working on a statewide MSME Directory to enhance business visibility and improve access to investment opportunities.
Akpara also introduced the National Brands Development and Made-in-Nigeria Project (Abia Expo 2026), which aims to showcase the innovations of Nigerian businesses, bolster the quality of locally manufactured products, and position Abia as a leading destination for quality local production.
“Abia State is intentionally building an ecosystem where businesses can start, grow, and compete in local and international markets,” Akpara stated. “Our MSME Policy, along with our other initiatives, lays the groundwork for sustainable enterprise growth. Collaborations with organizations like Stanbic IBTC are vital, as government efforts alone cannot build a thriving MSME ecosystem.”
Chuma Nwokocha, Chief Executive of Stanbic IBTC Holdings, underscored the bank’s broader mission to assist Nigerian businesses. “Businesses do not scale in isolation. They need access to capital, intelligence, and platforms that connect them to larger markets,” he said.
Nwokocha further elaborated that the bank aims to facilitate MSME advancement through value chain financing, structured lending, and advisory services that transform promising enterprises into sustainable businesses. He highlighted the bank’s commitment to investing in sectors poised to shape Nigeria’s economic future.
Remy Osuagwu, Executive Director of Business and Commercial Banking at Stanbic IBTC Bank, noted that the bank is adopting a more focused national strategy to provide entrepreneurs with practical business support where they operate.
