The Nigerian economy is heavily reliant on crude oil exports, resulting in significant instability as global oil prices fluctuate. Economic diversification should facilitate the transition to a more stable and resilient economy and drive sustained economic growth. Supply chain finance could help catalyze the growth of micro, small, and medium enterprises (MSMEs) to accelerate diversification. This report estimates that the market size for supply chain finance in Nigeria is 2.7 trillion Nigerian naira, equivalent of about $6.6 billion. This demand can be targeted through a multi-stakeholder approach that increases knowledge of and access to supply chain finance, and is complimented by continuous enhancements in the enabling environment.
