Nearly two-thirds of Nigerian MSMEs owners are 26–45 age group
Nigeria’s micro, small, and medium enterprises (MSMEs) are dominated by entrepreneurs in their prime working years, underscoring the age-driven dynamics of the country’s enterprise sector.
Fresh data from Intelpoint show that nearly two-thirds of MSME owners are between the ages of 26 and 45. Of this group, 33.3 percent are in the 26–35 bracket, while another 33.8 percent fall within 36–45. By comparison, only 12.1 percent of entrepreneurs are aged 18–25, 14.6 percent are between 46 and 55, and just 6.2 percent are above 56.
Intelpoint noted that “the age distribution of Nigerian MSME entrepreneurs shows a clear concentration in the 26–45 age bracket, which makes up roughly two-thirds of the population.” It added that while very young adults represent just over 12 percent, “most business ownership starts after early adulthood,” with the mid-life group (46–55) at nearly 15 percent and older entrepreneurs (56+) as the smallest segment.
The findings reinforce the centrality of MSMEs to Nigeria’s economy, where they contribute about half of GDP and over 80 percent of employment.
But the uneven age spread raises structural concerns. Despite their familiarity with digital tools and with high unemployment rates, young Nigerians remain underrepresented as business owners. Limited access to finance, weak entrepreneurial education, and a challenging business climate are barriers keeping them from scaling up ideas into sustainable enterprises.
Read also: ‘MSMEs can only grow with easy access to funds, markets’
Intelpoint’s analysts observed that “MSME activity is largely driven by individuals in their prime working years, reflecting a combination of energy, experience, and capacity to manage small and medium-scale businesses.”
At the other end of the spectrum, the marginal role of older entrepreneurs suggests gaps in succession planning and business continuity. With fewer Nigerians above 56 engaged in small-scale entrepreneurship, opportunities for intergenerational transfer of knowledge and wealth remain underdeveloped. This may also reflect broader issues around retirement savings, health security, and reduced risk appetite in later years.
Experts argue that broadening the entrepreneurial base will require targeted interventions. For younger entrepreneurs, easier access to credit, digital infrastructure, and mentorship could improve entry and survival rates. For older business owners, policies that bolster advisory roles, family succession, and financial support could help preserve enterprise knowledge and ensure stability in key sectors.
The Intelpoint survey, which covered 600 MSMEs across Nigeria’s six regions with an 84.4 percent response rate, is part of a wider effort to track how small businesses manage finance, revenue, and support systems. Its results highlight the need for tailored policies that recognize the age dynamics of Nigeria’s enterprise economy and unlock participation across all demographics.
