Since 1999, Nigeria has focused on promoting Nano, Micro, Small, and Medium Enterprises (NMSMEs), leading to the establishment of SMEDAN in 2003 and the OLOP initiative in 2005. One Local Government One Product (OLOP) aims to enable Nano, Micro, Small and Medium Enterprises (NMSMEs) to create value from local resources, targeting rural areas where 70% of the population lives. Despite economic challenges, NMSMEs in Nigeria perform comparably to those in developed economies, contributing significantly to GDP and employment. However, Nigeria’s weak intellectual property regime discourages innovation, affecting NMSMEs’ growth. Development financed collaborative projects and targeted business development services are essential to support innovation and drive economic growth, noting that 90% of NMSMEs are youth-owned or led, highlighting the importance of engaging and supporting young entrepreneurs.