The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has mobilised over N11 billion in financial support for small businesses in the past two years. It has also facilitated the creation of more than 100,000 jobs nationwide, in alignment with President Bola Tinubu’s Renewed Hope Agenda.
Speaking recently, SMEDAN Director-General Charles Odii highlighted these accomplishments as part of a strategic drive to expand access to finance, tools, and training for micro, small, and medium enterprises (MSMEs) across the country. He noted that the agency’s efforts support the federal government’s objective of inclusive economic growth and job creation.
“In just two years under President Tinubu, we have recorded tangible progress at SMEDAN. We have mobilised over N11 billion to improve access to affordable financing for small businesses and have helped create more than 100,000 jobs across Nigeria,” Odii stated.
He credited strategic partnerships with the National Assembly for empowering thousands of entrepreneurs with essential tools and equipment to enhance productivity in various sectors.
Odii also disclosed that SMEDAN had revived operations at several Industrial Development Centres in Abuja, Osun, and Katsina States. These centres now provide small businesses with access to modern machinery, reliable electricity, and business development services.
According to Odii, the agency is collaborating with international development partners, including the United Nations Development Programme (UNDP), GIZ, and Google, to improve the digital and technical capacities of Nigerian entrepreneurs. These partnerships are also helping to open new market opportunities, both locally and globally.
He emphasised that business formalisation remains a central focus. SMEDAN is working closely with regulatory bodies such as the Corporate Affairs Commission (CAC), National Agency for Food and Drug Administration and Control (NAFDAC), Standards Organisation of Nigeria (SON), and the Federal Inland Revenue Service (FIRS) to support small enterprises in registering their businesses, complying with regulations, and operating in a more enabling environment.
In terms of youth engagement, Odii revealed that SMEDAN is collaborating with institutions like the National Youth Service Corps (NYSC) to support young Nigerians in transforming innovative ideas into successful ventures.
“This is what the Renewed Hope Agenda looks like in practice—genuine support, measurable outcomes, and a growing ecosystem in which Nigerian businesses can thrive,” he said.
Odii also referenced the SMEDAN Garment and Textile Hub located at the Idu Industrial Development Centre in Abuja, describing it as a model for inclusive industrial development. Powered by solar energy through a partnership with the UNDP, the hub provides fashion entrepreneurs with access to affordable industrial machines and uninterrupted power supply, significantly enhancing productivity and job creation.
Reaffirming SMEDAN’s commitment to its “GROW Nigerian” strategy – an acronym for Guidance, Resources, Opportunities, and Workforce support – Odii said: “The outcome is more jobs, stronger businesses, and increased economic value within communities nationwide.”
He concluded by reiterating the agency’s dedication to advancing SME development as a cornerstone of Nigeria’s economic transformation and national prosperity.
