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 sensitisation workshop focused on product identification for Micro, Small, and Medium Enterprises (MSMEs).

The workshop took place at LAPO Place, the headquarters of LAPO Microfinance Bank in Lagos, bringing together entrepreneurs, industry stakeholders, and regulatory authorities. The initiative aimed to deepen awareness of product standards, identification systems, and access to financial and non-financial support for MSMEs, while reinforcing the commitment of the three institutions to strengthen small businesses in Nigeria.

In his goodwill message, Mr. Oluremi Akande, Director of Marketing and Communications at LAPO MfB, highlighted the importance of combining finance with knowledge on product standards. “At LAPO, we recognise 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,” he said.

Speaking at the event, Bunmi Kole-Dawodu, Deputy Director of SMEDAN’s Lagos State Office, emphasised the significance of the collaboration for the country’s economy. “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,” she said.

Efosa Evbuomwan, Head of Research and Business Development at LAPO Microfinance Bank, noted the strategic value of the partnership in enhancing MSME competitiveness. “This collaboration reflects LAPO’s research-driven approach to MSME development. By combining financial inclusion with knowledge on product identification and standardisation, we are building the capacity of small businesses to thrive in both domestic and international markets,” he said.

Representing SON, Ezeudu Loveline stressed the role of standards in consumer protection and business growth. “Product identification and standardisation 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,” she said.

The workshop featured practical sessions on SON’s product identification framework, discussions on MSME financing opportunities, and capacity-building presentations led by resource persons from the partner organisations.

The tripartite partnership plans to continue with further interventions focused on financing, training, and standardisation support for MSMEs across Nigeria.