The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) says it has secured over N11 billion in financing support for small businesses and helped facilitate more than 100,000 jobs within two years under the administration’s Renewed Hope Agenda.
Speaking during an interview with the News Agency of Nigeria, the agency’s Director-General said the achievements reflect SMEDAN’s focus on expanding access to finance, tools, and skills across the country to support small businesses. He described the progress as a deliberate strategy aligned with national goals for inclusive economic growth and job creation.
Through strategic partnerships with the National Assembly and other stakeholders, SMEDAN provided thousands of entrepreneurs with tools and equipment aimed at boosting productivity. It also revived operations at key Industrial Development Centres in Abuja, Osun, and Katsina states, offering small businesses access to modern machinery, stable electricity, and enterprise support services.
The Director-General highlighted partnerships with international organizations including the United Nations Development Programme, GIZ, and Google. These collaborations are designed to improve the digital and technical skills of Nigerian entrepreneurs while opening up access to local and global markets.
Formalization of small businesses remains a central focus. SMEDAN has teamed up with regulatory bodies such as the Corporate Affairs Commission, NAFDAC, SON, and FIRS to simplify business registration and compliance. These partnerships aim to create a more supportive and enabling environment for MSMEs.
On youth development, SMEDAN is working closely with the National Youth Service Corps and other institutions to help young Nigerians turn business ideas into viable ventures. One notable example is the SMEDAN Garment and Textile Hub in Abuja’s Idu Industrial Development Centre. Powered by solar energy and supported by the UNDP, the hub provides fashion entrepreneurs with affordable access to industrial machines and a reliable power supply.
The agency is also promoting its “GROW Nigerian” strategy, focused on Guidance, Resources, Opportunities, and Workforce support—as a long-term framework to boost job creation and revenue generation in the MSME sector.
Reaffirming SMEDAN’s mission, the Director-General said the agency remains committed to deepening support for small businesses as a foundation for national prosperity and economic transformation.
