The Nigerian SME Growth Playbook: How Digital Tools Are Turning Ambition into Reality

The Nigerian Communications Commission (NCC) has emerged as one of the top-performing federal agencies in the nation's 2026 Public Service Reforms Performance Assessment. Ranked third among all Ministries, Departments, and Agencies (MDAs), the NCC follows closely behind the Nigerian Investment Promotion Commission (NIPC) and the Nigerian Export Promotion Council (NEPC). This ranking highlights the Commission’s sustained efforts in implementing reforms aimed at increasing transparency, accountability, and service delivery within the telecommunications sector.

The evaluation process involved a comprehensive review of MDAs using key reform indicators, including the Self-Assessment Tool, Freedom of Information (FOI) compliance, the Fiscal Transparency and Integrity Index, and the performance of official websites. These metrics were used to gauge how effectively each agency adhered to public service reform goals. The Bureau of Public Service Reforms (BPSR), which conducted the assessment, emphasized that the exercise recognized MDAs that had shown exceptional commitment to transparency, accountability, and improved service delivery.

Representing the NCC at the award ceremony, Engr. Abraham Oshadami, the Executive Commissioner for Technical Services, expressed gratitude for the recognition. He stated that the award affirmed the Commission’s ongoing reform efforts and reinforced the necessity of continuing these initiatives. Oshadami highlighted that the acknowledgment served as a motivator for the NCC to deepen its reforms, aiming to enhance service delivery and bolster public trust in the telecommunications industry.

Oshadami further elaborated on the benefits of the recognition for consumers. He noted that the award reflected the Commission’s dedication to improving service quality, transparency, and responsiveness throughout the telecommunications sector. This, he argued, would reinforce the significance of maintaining high standards to ensure better customer experiences and increased confidence in telecom services nationwide. Additionally, the NCC reiterated its commitment to deploying effective regulatory measures and innovative strategies to safeguard consumer interests and elevate service quality across the sector.

In recent years, the NCC has undertaken numerous reforms to promote transparency and accountability. Some notable initiatives include the introduction of the National Coverage Map, which offers near-real-time insights into network availability and performance across the country. The Commission has also published Quarterly Network Performance Reports, detailing the service delivery of mobile network operators. Furthermore, the NCC has mandated mobile network operators to simplify tariff communication for consumers and enforce compliance with updated Corporate Governance Guidelines to enhance accountability and operational efficiency.

The NCC has also prioritized the proactive disclosure of industry data to inform stakeholders and the general public about developments in the telecommunications sector. These steps align with the broader objective of ensuring that the public receives timely and accurate information regarding the state of the sector.

Meanwhile, in Abia State, the government has taken significant strides toward institutionalizing transparency and eradicating corruption in the public service. As part of its commitment to these goals, the state has inaugurated the Monitoring and Evaluation (M&E) Committee for the Abia State Strategy on Accountability, Integrity, and Anti-Corruption (ABSIAS). This initiative is being executed in collaboration with the Rule of Law and Anti-Corruption (RoLAC) Programme, supported by the European Union.

The M&E Committee is entrusted with overseeing the implementation of the state’s anti-corruption strategy, tracking compliance across MDAs, validating data, and producing evidence-based reports to guide government decision-making. During the inauguration, the Head of Service, Benson Ojeikere, who was represented by the Permanent Secretary of the Ministry of Lands, Tpl. Ukeje Uche Ukpabi, emphasized that the committee would act as the "watchmen" of the anti-corruption strategy, underscoring the importance of effective implementation and oversight for any policy to succeed.

Ojeikere urged committee members to carry out their duties with professionalism and impartiality, noting that they were chosen for their integrity and dedication to public service. He outlined the committee’s responsibilities, which include monitoring progress, identifying implementation gaps, ensuring adherence to anti-corruption standards, and evaluating the impact of government reforms. According to Ojeikere, the initiative would help shield civil and public servants from engaging in practices that might lead to investigations by anti-graft agencies after their tenure ends.

The Project Coordinator of the RoLAC Programme in Abia State, Dr. Peter Omenka, explained that the inauguration aimed to strengthen the implementation framework for the state’s integrity and accountability strategy. Members of the committee would undergo capacity-building sessions to acquire the necessary skills for collecting and managing evidence to evaluate the implementation of reforms. Omenka noted that the committee would coordinate resource tracking, validate data, and generate evidence-based progress reports for the Steering Committee, which oversees the implementation of the strategy.

Omenka also mentioned that the Steering Committee had previously been inaugurated in the Office of the Head of Service, and a secretariat had been set up to coordinate implementation across government institutions. Each MDA would also establish Anti-Corruption and Transparency Units (ACTUs) to drive the implementation of the strategy at the institutional level. The European Union-funded program aims to support reforms that enhance criminal justice administration, improve access to justice for vulnerable groups, and promote transparency and accountability in governance.

The Lead Consultant to RoLAC, Prof. Ada Chidi, expressed confidence in the successful implementation of the strategy, citing the strong political will demonstrated by the Abia State Government. She assured that the implementation framework includes built-in accountability mechanisms to prevent potential compromises during field monitoring. She explained that committee members would operate in teams and be mutually accountable, while the ACTUs established in each MDA would function as internal oversight mechanisms to ensure proper implementation.

In parallel, the Nigerian SME Growth Playbook outlines how digital tools are transforming the ambitions of micro, small, and medium-sized enterprises (MSMEs) in Nigeria. With nearly 40 million MSMEs, these businesses form the backbone of the country’s economy, driving innovation, creating jobs, and supporting livelihoods across communities. According to Mastercard’s newly released SME Confidence Index, 81% of Nigerian SMEs are optimistic about the next 12 months, with 68% expecting revenue growth. Notably, every business surveyed believes that digital and online payments are crucial to their future success.

The index reveals that Nigerian SMEs are investing in their workforce, adopting digital technologies, seeking access to capital, and expanding beyond traditional boundaries to attract new customers and markets. For these businesses, digital payments are no longer a luxury but essential infrastructure upon which sustainable growth depends. However, a significant challenge persists: while consumers are ready to pay digitally, many merchants still face barriers in accepting these payments. Addressing this issue requires moving beyond generic, off-the-shelf technology to develop infrastructure tailored to local realities.

Mastercard is focusing on bridging this gap by reshaping the West African payment landscape. One of the initiatives involves introducing “hardware-lite” solutions that convert existing smart devices into secure payment hubs. Collaborations with Wema Bank and UBA have led to the launch of QR-on-Card solutions, enabling 1.8 million Nigerian SMEs and gig workers to accept payments instantly without incurring hardware costs. This approach is yielding immediate results and represents a tangible step towards closing the acceptance gap.

Another challenge facing Nigerian SMEs is the high cost of cross-border money movements. According to the World Bank, Sub-Saharan Africa remains the most expensive region for cross-border transactions, with average costs nearing 8.5%. To overcome this obstacle, Mastercard is leveraging its global infrastructure, known as Mastercard Move, which connects over 200 countries and territories. This system helps businesses expand into new markets and facilitates faster, more efficient international money transfers.

Through partnerships with entities like Access Bank Group and Fidelity Bank, Mastercard is scaling seamless cross-border remittances. Additionally, fintech companies such as BMONI are enabling the instant issuance of virtual Naira and U.S. Dollar cards, addressing longstanding payment and foreign exchange challenges that have hindered access to global commerce and digital services.

Beyond technological advancements, Mastercard emphasizes the importance of capacity building and collaboration. The SME Confidence Index found that 79% of Nigerian SMEs consider training and upskilling staff as a top priority for growth. This underscores the need for continuous learning and adaptation to stay competitive in an evolving market.

eTranzact Plc, a leading financial technology company, has also highlighted the transformative potential of digital payments in improving tax administration, revenue collection, and public service delivery. At the Nigeria Employers’ Summit 2026, the Managing Director and CEO of eTranzact, Niyi Toluwalope, emphasized that digital payments have evolved beyond mere facilitation of financial transactions to become a vital driver of economic growth and accountability.

Toluwalope pointed out that digital payments create trusted records, which in turn strengthen accountability and reduce leakages. He stressed that every reduction in leakages enhances confidence in government, institutions, and the economy. eTranzact’s technology solutions are aiding government institutions and businesses in improving efficiency and service delivery. The company’s platforms, including e-Invoicing Solutions, Pension Gateways, and Electronic Verification Management Systems, are designed to support organizations in achieving operational efficiency, transparency, and enhanced service delivery.

Toluwalope reiterated that eTranzact’s commitment lies in advancing national priorities through technology. The company’s support extends to Federal and State Government revenue collections, as well as digital transformation initiatives across both the public and private sectors. By promoting financial inclusion, strengthening governance, and enabling more efficient business operations, digital payment innovations contribute to Environmental, Social, and Governance (ESG) objectives.

Looking ahead, the focus remains on delivering tangible outcomes rather than merely announcing reforms. Both the public and private sectors must continue collaborating to build robust digital payment infrastructures that support ongoing reforms and foster sustainable economic development.