Why we must learn to build to last – Tony Elumelu

Tony Elumelu, influential businessman and highly rated banker, has laid  emphasis on why it is imperative to ensure the sustainability of the MSME ecosystem while acknowledging and applauding the resilience, doggedness and tenacity of Nigerian entrepreneurs.

He said this at the 2025 MSME Conference held from November 16–18.

It was convened by the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) and partners under the theme ‘GROW Nigerian: Building a Future of Innovation, Resilience and Prosperity’.

The conference brought together top voices across entrepreneurship, technology, finance, and public policy spaces to underscore one message: “Nigerian businesses must embrace digitalization, build strong internal structures, and prepare for scalable, sustainable growth.”

However, Elumelu pointed out that many promising businesses in Nigeria fail to excel due to gaps in systems, support structures, and enabling environments.

“We must learn to build to last,” he said. He also called for stronger business ecosystems that would support businesses flourish and move beyond survival stages into long-term success and glory.

A major highlight of the event was the presentation of SMECore, a purpose-built ERP and digital operating system tailored to African businesses.

The digital company emerged as the first ERP and All-in-One digital platform for Africa’s Micro Small and Medium Enterprises, MSMEs, to place them on the fast lane of growth and development.

Amu Ogbeide, Group CEO of Sapphital, described SMECore as “the missing link for building structure and driving digital inclusion across African businesses.”

Ogbeide also explained that the platform provides a powerful, secure, and affordable system that enhances transparency, compliance, and structured growth.

“SMECore unifies all core business functions—including finance, HR, sales, quotations, inventory, customer management, and operations—into a single real-time interface. Every transaction is tracked seamlessly, giving SMEs full visibility, improved accuracy, and increased operational efficiency. This strengthened structure also boosts their readiness for credit access, funding opportunities, and investor engagement.”

“One of SMECore’s key advantages is its modular design, which allows MSMEs to start with essential tools and expand features as their operations scale.

“Another notable feature is SMECore’s Owner’s Dashboard, offering real-time insights into cash flow, staff productivity, inventory status, sales performance, and other vital business metrics.”

Amid Nigeria’s new tax reforms taking effect in January 2026, the Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, emphasized the importance of preparedness.

He urged businesses to maintain proper records and strengthen internal structures to fully benefit from the reforms.

Meanwhile, the Minister of State for Industry, Trade and Investment, Senator John Enoh, stressed the strategic position and importance of MSMEs in Nigeria’s economic growth , development and stability.

According to Enoh, MSMEs represent about 95 per cent of businesses in Nigeria, also contribute over 85 per cent of employment generation.

He said: “No nation can rise above the courage and creativity of its entrepreneurs.”

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