The Small and Medium Enterprises Development Agency of Nigeria has announced an expanded programme of support for small businesses at the start of 2026, reinforcing government efforts to strengthen the SME ecosystem across the country.
The renewed push comes at a critical time for small enterprises navigating policy changes while seeking better access to finance, formalisation and growth opportunities. SMEDAN said the enhanced strategy is designed to help businesses stabilise operations and position for sustainable expansion in the new year.
As part of the plan, the agency aims to register more than 250,000 new businesses in early 2026, a move targeted at encouraging formalisation and helping small enterprises unlock benefits tied to official recognition. According to SMEDAN, formal registration will make it easier for business owners to access funding, training and government-backed support programmes.
The agency is also deepening collaboration with financial institutions, including the Bank of Industry, to improve access to credit for small businesses. These partnerships are expected to deliver single-digit interest loans to eligible operators, addressing long-standing financing challenges that limit expansion, working capital and productivity for many SMEs.
In addition, SMEDAN plans to roll out capacity-building programmes focused on business management, digital skills and market access, as part of efforts to equip entrepreneurs with practical tools to compete and grow in an increasingly challenging market environment.
With these initiatives, SMEDAN is positioning itself as a central pillar of SME support in 2026, combining formalisation incentives, improved access to finance and skills development to help small businesses remain resilient despite broader economic and policy shifts.
