Charles Odii, the Director-General of the Small and Medium Enterprises Development Agency (SMEDAN), has affirmed his commitment to accelerating the growth and prosperity of small businesses in Nigeria through the agency’s “Grow Nigerian” agenda. This assurance came as Odii was honored with a public service award by The Sun newspaper in Lagos.
The “Grow Nigerian” initiative aims to enhance local production capacity and expand market access for small businesses, both domestically and internationally. Odii emphasized that the agency’s plan to drive growth involves providing guidance, resources, opportunities, and workforce support necessary for the rapid and sustainable development of small businesses.
Odii highlighted the significance of small businesses in Nigeria’s economy, noting that when they prosper, the entire nation prospers. He expressed SMEDAN’s unwavering commitment to supporting small businesses, which constitute over 90 percent of businesses and contribute significantly to the GDP.
Furthermore, Odii revealed that the agency is set to unveil the “Grow Nigerian” strategic blueprint, which outlines strategies to enhance SMEs’ production capacity, facilitate market access, and address forex and unemployment challenges through diversified import substitution. This initiative aims to create engagement opportunities and enable the country to earn foreign currency.
Since assuming office in October 2023, Odii has been instrumental in securing financing for small businesses, including negotiating single-digit interest loan deals with commercial banks and establishing matching fund agreements with state governments. Additionally, he has introduced initiatives to facilitate investments in emerging sectors, nurture entrepreneurial talents, and promote social equity.
Through the “Grow Nigerian” agenda and other initiatives, SMEDAN under Odii’s leadership is poised to foster the growth and resilience of small businesses, thereby contributing significantly to Nigeria’s economic development and prosperity.
