NerdzFactory Company, with support from the European Union (EU) and the United Nations Development Programme (UNDP), has successfully concluded the second phase of its Enhancing the Capabilities of Cluster-Based Support for Improved Resilience and Growth Project. The initiative is aimed at empowering micro, small, and medium enterprises (MSMEs) across Nigeria.
Scope and Reach
- The program targeted MSMEs across seven states: Anambra, Bayelsa, Edo, Kano, Kebbi, Kwara, and Lagos.
- Over 4,000 MSME owners participated in capacity-building training, gaining skills in business management, financial literacy, and digital tools like WhatsApp Business and Google Business Profile.
Grants Distribution and Impact
- ₦100,000 grants were distributed to 12,496 MSMEs to tackle immediate business challenges.
- 95% of beneficiaries reported improved business management skills, and 31% noted increased resilience to economic shocks.
Strategic Collaborations
- Partnerships with local innovation hubs and government agencies amplified the program’s success.
- CLEEN Foundation supported 66 MSMEs.
- Lagos Chamber of Commerce and Industry (LCCI) assisted 49 businesses.
- Lagos State Employment Trust Fund (LSETF) provided support to 188 enterprises.
- MADAFA Women’s Cooperative in Kano empowered 197 MSMEs.
- Project Enable Africa assisted 56 MSMEs.
- Additional hubs supported 834 businesses across various sectors.
Impact Stories
- Kwara State: Agribusinesses adopted digital tools to expand their market reach.
- Edo State: Garment manufacturers developed export strategies, enabling them to scale internationally.
These success stories demonstrate the program’s transformative impact, enabling businesses to thrive despite Nigeria’s challenging economic environment.
Stakeholders’ Remarks
- Ademulegun Olowojoba, Founding Partner of NerdzFactory, emphasized:
“This project has highlighted the potential of MSMEs as key drivers of economic growth in Nigeria. By equipping them with practical tools and addressing their core challenges, we are laying the foundation for sustainable and inclusive development.”
- Joyce Oboro, UNDP Representative, stated during a visit to Bayelsa State:
“This EU-funded initiative aims to mitigate socio-economic challenges by empowering MSMEs. Strengthening these enterprises is critical for building a resilient economy.”
NerdzFactory remains committed to fostering resilience and innovation among MSMEs. Through continued collaborations and support, the company aims to contribute to a stronger, more dynamic Nigerian economy driven by empowered entrepreneurs.
