Tinubu’s Cabinet Considers New Policy to Improve Opportunities for Nigerian Businesses

President Bola Ahmed Tinubu presided over a Federal Executive Council meeting on Wednesday, October 28, 2026, as the government prepared to consider a new national policy aimed at strengthening small and medium-sized enterprises in Nigeria.

The meeting took place at the Council Chamber of the Presidential Villa in Abuja, with Vice-President Kashim Shettima in attendance.

According to Punch Newspapers, Tinubu arrived at the venue at approximately 2:34 p.m. before the council commenced its proceedings.

One of the items expected to receive attention was the proposed National Policy on Small and Medium Enterprises covering 2026 to 2030.

The policy is intended to improve business opportunities and make government procurement more accessible to smaller enterprises.

Director-General of the Small and Medium Enterprises Development Agency of Nigeria, Charles Odii, had earlier discussed the proposal during the introduction of a free digital training platform in Abuja.

Odii explained that many small businesses face difficulties securing government contracts because they lack adequate knowledge of public procurement procedures.

He said the new initiative would help entrepreneurs understand government contracting requirements and improve their ability to compete for available opportunities.

The proposed policy also seeks to encourage greater participation by small businesses in public procurement.

According to Odii, improving access to government contracts could help enterprises gain experience, expand their operations and contribute more effectively to the economy.

The initiative is also expected to encourage local participation in government supply chains.

Small and medium-sized enterprises play an important role in Nigeria’s economy through employment generation, trade and the provision of essential services.

However, many operators continue to face challenges involving financing, infrastructure and access to larger markets.

The proposed policy could help address some of these difficulties by creating clearer opportunities for business participation.

As of the report’s publication, the Federal Executive Council had not announced final approval of the policy.

Further details are expected after the government’s consideration of the proposal.

Source: Punch Newspapers, October 28, 2026.

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