Operational Audit of the World Bank funded Micro, Small and Medium Enterprise (MSME) Project

The Operational Audit aimed to help the Government of Nigeria and its development partners improve the effectiveness of the project to strengthen markets and address investment constraints. This involved verifying that performance reports provided by the Project Management Unit and the grantees were accurate and reviewing operations and outcomes commencing January 2007. The Nigeria Micro, Small and Medium Enterprises (MSME) Project was a pilot project of the World Bank and Federal Government of Nigeria implemented by the Nigeria Investment Promotion Council (NIPC) through a Project Monitoring Unit. The MSME project aimed to increase the performance and employment levels of MSMEs in selected non-oil industry sub-sectors and in three targeted States of the country. The project aimed to: develop and strengthen, the capacity of local intermediaries to deliver financial and non-financial services to MSMEs; reduce selected investment climate barriers that constrain MSME performance; mobilise increased private investments in MSMEs and intermediaries. The project was piloted mainly Lagos, Kaduna and Abia states.