The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has introduced a new national strategy aimed at driving job creation and strengthening the Micro, Small and Medium Enterprises (MSME) sector through its “GROW Nigerian” initiative.
Unveiling the plan in Abuja, the Director-General of SMEDAN explained that the initiative is anchored on four foundational pillars; Guidance, Resources, Opportunities, and Workforce Support (GROW); intended to tackle common barriers faced by MSMEs in Nigeria.
He described the initiative as a strategic framework to stimulate economic growth, noting that GROW is built on the belief that with the right mix of expert mentorship, financial resources, market access, technology, and skilled labour support, small businesses can scale sustainably and create meaningful jobs.
“GROW Nigerian is our strategic blueprint to accelerate economic growth by offering vital support to MSMEs across key sectors of the economy,” he said. “It proposes our theory of change—that with the right mix of guidance, resources, opportunities and workforce support, small businesses can thrive.”
The agency revealed that within the first quarter of 2025 alone, its program had helped create over 90,000 jobs, marking a strong start to its renewed effort to reposition the MSME space as a driver of national development.
Looking ahead, SMEDAN will concentrate its efforts on eight critical sectors of the economy: agriculture value chain, fashion and textiles, tourism and hospitality, manufacturing, education, digital economy, innovation, and technology adoption. These sectors, according to the agency, hold significant potential to absorb labour and stimulate productivity across both urban and rural areas.
While highlighting the strategy’s promise, the SMEDAN boss acknowledged the enduring hurdles MSMEs continue to face; among them, poor access to finance, high operating costs, complex regulatory procedures, inadequate infrastructure, and a shortage of skilled manpower.
To address these, SMEDAN plans to deepen partnerships with stakeholders across the public and private sectors to deliver targeted training, improve access to financing, reduce entry barriers, and connect small businesses to larger markets and business networks.
By focusing on enterprise development and job creation, the GROW Nigerian initiative is expected to play a pivotal role in unlocking the full potential of Nigeria’s MSME sector and strengthening its contribution to inclusive and sustainable economic growth.
