The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) is set to spend a total sum of N6.2 billion on empowerment programs, involving the purchase of motorcycles and tricycles for Nigerian youths and women, as outlined in its 2024 budget.
Despite full or partial bans on motorcycle operations by 12 state governments and the Federal Capital Territory, including states such as Kaduna, Kano, Rivers, and Kwara, SMEDAN remains committed to its empowerment initiatives. The agency, tasked with supporting small and medium-scale enterprises, aims to address challenges like poor infrastructure and limited access to financial services.
In specific allocations, SMEDAN plans to spend N500 million on the supply of tricycles in eight local governments of Sokoto North Senatorial District to offset the impact of subsidy removal. Additionally, N50 million is earmarked for providing motorcycles to youths in Okija, Anambra state.
A substantial portion of the budget, N3 billion, is dedicated to providing motorcycles, motor vehicles, and keke napep to women and youths in the northwest geo-political zones. Another N100 million is allocated for the supply of keke napep to the underprivileged in seven LGAs of the Southern Senatorial District in Cross Rivers.
Despite the commissioning of its headquarters at Jabi in December 2023, the agency has set aside N1 billion for the construction of an office building and N3 million for rent payment in its 2024 budget.
Vice President Kashim Shettima emphasized the administration’s strategic focus on job creation, capital accessibility, economic growth, and poverty eradication during the unveiling of the budget. The initiatives, while demanding tough decisions, align with the government’s commitment to revitalizing the economy.
