The financial vulnerability of the SME sector in Nigeria has led to its slim chances of survival due to low sales, low profitability, high costs of doing business thereby resulting in poor performance. The study seeks to ascertain the extent to which mobile commerce proxied by mobile penetration, internet penetration and lending rate has impact on SMEs performance in Nigeria. The population of the study comprised of all the 17,284,678 registered SMEs in Nigeria. The study adopted correlational research design for all the registered SMEs in Nigeria from the year 2003 to 2014. Secondary source of data collection was adopted for the study and Vector Autoregressive Tool of data analysis to test the formulated hypotheses. The study found that mobile commerce has an insignificant impact on SMEs survival and SMEs access to credit in Nigeria but SMEs asset size was found to be significant. The study concluded that small and medium enterprises in Nigeria patronize internal rather than external sources of finance for their startup capital and even for expansionary purposes but patronizes external sources for their fixed assets. Itwas therefore recommended that commercial banks should make provision for easy accessibility to adequate and sufficient initial or start-up capital to its committed customers who are consistent in their transactions with their bank