Nigerian SMEs prioritize digitization and training for growth

Nigerian small and medium-sized enterprises (SMEs) are increasingly prioritizing digitization and staff training to drive growth amidst rising operational costs. According to a June 2026 Mastercard SME Confidence Index, 56 per cent of Nigerian SMEs reported higher revenue over the previous year, with 79 per cent identifying staff training and 78 per cent identifying business digitization as major growth priorities.

Research indicates that e-commerce implementation significantly improves SME performance. A study of 370 SMEs in Oyo State suggested that the quality of digital marketing, specifically informative and interactive content, strengthens the link between e-commerce and business success. Experts suggest that rather than increasing marketing budgets, SMEs may find more success by refining their sales systems and targeting specific customer niches.