NCDMB boss identifies MSMEs as backbone of Nigeria economy despite challenges NCDMB boss identifies MSMEs as backbone of Nigeria economy despite challenges Share The Executive Secretary of the Nigerian Content Development Monitoring Board (NCDMB), Mr Simbi Wabote, has stated that in spite of the daunting challenges against the development and growth of the Micro, Small and Medium Enterprises MSMEs in Nigeria, that segment of the economy remains the backbone of the nation’s economy. Speaking at the weekend at Niger Delta MSME Summit held in Port Harcourt, Wobote identified three major challenges of MSMEs as inadequate electricity, lack of access to funds and the informality of the sector of the economy.