Charles Odii, recently appointed Director-General of the Small and Medium Enterprises Development Agency (SMEDAN), assures Nigerian entrepreneurs of forthcoming local and international funding prospects.
Taking office at the agency’s headquarters in Abuja, Odii emphasized that SMEDAN’s priority is to facilitate accessible capital for businesses. President Bola Tinubu confirmed Odii’s appointment along with 13 others last week.
Odii affirmed that SMEDAN will collaborate with both public and private entities at all levels to fulfill the agency’s goals and remove obstacles hindering SMEs’ progress in the country.
He stated, “We will explore local and international funding opportunities and democratize access to capital for entrepreneurs with valuable ideas and the right motivation no matter where they live in the country.”
“SMEs will receive the training and skills they need to grow sustainably, meet local demand and become global players by exporting value.”
Odii outlined plans to establish production hubs, providing businesses with cost-effective access to essential facilities.
“We will showcase their products to the nation and the rest of the world through masterful storytelling and exhibitions and fairs staged in partnership with relevant stakeholders,” Odii stated.
Taking over from Olawale Fasanya, Odii pledged to work in unison with the entire agency staff to drive positive change.
“We will achieve this together as a team united by a common purpose. I am eager to collaborate with all of you to make a difference.”
“Together, we can shape a future where our small and medium enterprises are not only surviving but thriving, and in doing so, contribute significantly to the prosperity of our nation.”
Fasanya, in his remarks, described the new DG as someone well-versed and experienced in the sector. He emphasized that MSMEs form the cornerstone of the economy, contributing over 80 percent of employment.
“The population of this sector is enormous. Like the last survey, we have no less than 39.6 million people, and largely most of them are informal.”
“It is important to segregate nano from micro in giving the right attention.”
“We really need to support them because they are not usually affected by the economic shocks. We are on this journey together.”
The outgoing DG expressed his commitment to providing ongoing advice for the betterment of the sector.
