The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has secured over N11 billion in financing support for small businesses and facilitated the creation of over 100,000 jobs in the past two years, according to Director-General Charles Odii.
During a recent interview, Odii stated that these achievements reflect a concerted effort to expand access to finance, tools, and training for small businesses across Nigeria, aligning with national objectives of inclusive economic growth and job creation.
Odii highlighted SMEDAN’s strategic partnerships with the National Assembly, which have empowered thousands of entrepreneurs with tools and equipment to boost productivity in various sectors.
He also noted that SMEDAN has revitalized local production by restoring operations at several Industrial Development Centres, including those in Abuja, Osun, and Katsina States. These centers provide small businesses with access to modern machinery, a reliable power supply, and enterprise support.
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SMEDAN has also collaborated with international development partners such as the United Nations Development Programme (UNDP), GIZ, and Google to enhance the digital and technical capabilities of Nigerian entrepreneurs and open new pathways to local and international markets.
Formalization remains a key priority for SMEDAN, which has partnered with regulatory agencies such as the Corporate Affairs Commission (CAC), NAFDAC, SON, and FIRS to ease the business environment and help small businesses register, comply with regulations, and grow.
Furthermore, SMEDAN is working with the National Youth Service Corps (NYSC) and other institutions to support young Nigerians in transforming their ideas into successful enterprises.
Odii cited the success of the Garment and Textile Hub at the Idu Industrial Development Centre in Abuja as a model for inclusive industrial development. This solar-powered hub, made possible through a partnership with the UNDP, provides fashion entrepreneurs with access to affordable industrial machines and a stable power supply, thereby increasing productivity and job creations.
