Hayatu-Deen Says Nigerian Small Businesses Struggling To SurviveHayatu-Deen Says Nigerian Small Businesses Struggling To Survive

Presidential aspirant of the African Democratic Congress (ADC), Mohammed Hayatu-Deen, has lamented the enormous economic challenges faced by small and medium-sized enterprises (SMEs) in Nigeria, which he noted are the backbone of nation’s economy.

He said this when he met with a group of young Nigerian entrepreneurs on Tuesday as part of ongoing consultations focused on rebuilding the economy, supporting small businesses, and expanding opportunities for young Nigerians.

Speaking during the engagement, Hayatu-Deen noted that SMEs create the majority of jobs in Nigeria and sustain millions of households, warning that when businesses struggle, the consequences are felt across the entire country.

He said the discussions with the entrepreneurs revealed a consistent pattern of rising operational costs, shrinking margins, and growing uncertainty about the future.

“The message from these young entrepreneurs was clear. The cost of doing business is rising faster than their ability to grow. From energy, to transportation, to raw materials, everything is becoming more expensive, while profits continue to shrink,” Hayatu-Deen said.

“Having spent years supporting the growth of businesses and helping to create millions of jobs, I understand both the promise of our SMEs and the constraints holding them back. When the enabling environment is right, businesses thrive. When it is not, even the most resilient struggle.”

Hayatu-Deen stated that his vision for Nigeria is centered on building a productive economy that rewards enterprise, restores investor confidence, improves security, and reduces the burden on businesses.

According to him, addressing insecurity remains critical to economic recovery, as farmers, traders, transporters, manufacturers, and investors cannot operate effectively in an atmosphere of fear and uncertainty.

He further stressed that reducing the cost of doing business would be a major priority of his administration through targeted reforms in energy, infrastructure, taxation, access to finance, and regulatory efficiency.

“Our SMEs should be building, hiring, innovating, and expanding, not merely struggling to survive. Nigeria cannot create prosperity while its businesses are suffocating under rising costs and insecurity,” he added.

“This is why we are running, to fix this. To build a safer country, create more jobs, lower the cost of doing business, and give millions of Nigerians a real opportunity to succeed.”