On a day dedicated to celebrating the relentless spirit of entrepreneurs worldwide, the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has issued a powerful reaffirmation of its core mission: to empower the nation’s Micro, Small, and Medium Enterprises (MSMEs) as the primary drivers of economic transformation. This renewed commitment was the central theme of the World MSME Day commemoration event held in Akure, Ondo State, where the agency spotlighted its “Grow Nigeria” campaign as a strategic blueprint for national prosperity.
Speaking at the weekend gathering, the Ondo State Coordinator of SMEDAN, Prince Olatomi Ikuomola, articulated a vision that positions MSMEs not just as businesses, but as the very bedrock of Nigeria’s economic future. His address went beyond mere ceremony, serving as a clarion call for a collective shift in mindset towards championing local ingenuity and enterprise. He emphasized that the “Grow Nigeria” initiative is more than a slogan; it is a comprehensive strategy designed to build a self-reliant economy by systematically nurturing the grassroots businesses that form its foundation.
MSMEs are globally recognized as the lifeblood of economies, and Nigeria is no exception. They are the engines of job creation, the incubators of innovation, and the primary force for poverty alleviation in communities across the country. From the skilled artisan in a local market and the tech startup in a bustling city, to the small-scale farmer feeding the nation, these enterprises collectively constitute the vast majority of businesses and are responsible for a significant percentage of employment and GDP. SMEDAN’s renewed pledge on World MSME Day is a crucial acknowledgment of this reality, signaling a deliberate focus on dismantling the barriers that have long hindered their growth potential.
The “Grow Nigeria” campaign, as outlined during the event, is a multi-pronged effort. At its core, it is a patriotic drive to boost patronage of locally made goods and services. By encouraging Nigerians to look inwards and prioritize domestic products, the campaign aims to stimulate local production, reduce the nation’s dependence on imports, and retain valuable capital within the country’s circular economy. This fosters a sense of national pride and builds a resilient market that is less susceptible to global supply chain disruptions.
Beyond advocacy, SMEDAN’s commitment translates into tangible, hands-on support for entrepreneurs. The agency is dedicated to providing comprehensive capacity-building programs that equip business owners with the modern skills needed to compete effectively. This includes training in financial literacy, digital marketing, business management, and corporate governance. Furthermore, SMEDAN is actively working to bridge the critical access-to-finance gap by helping MSMEs become “credit-ready” and facilitating connections with financial institutions that offer tailored funding solutions.
Prince Ikuomola’s speech in Akure underscored the agency’s grassroots approach. By bringing this national message to the state level, SMEDAN demonstrates its understanding that true economic development happens in local communities, not just in federal boardrooms. The agency is committed to being on the ground, providing mentorship, and creating networks that allow small business owners to share knowledge, overcome challenges, and seize growth opportunities together.
As Nigeria navigates a complex global economic landscape, the imperative to build a robust and diversified economy has never been more urgent. The “Grow Nigeria” campaign, championed by SMEDAN, represents a clear and actionable path forward. It is an investment in the resilience, creativity, and unwavering spirit of millions of Nigerian entrepreneurs. By empowering them to succeed, SMEDAN is not just supporting individual businesses; it is fueling the engine that will power the nation’s journey towards sustainable and inclusive prosperity for all.
