The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has called for decisive action to support women entrepreneurs and Micro, Small, and Medium Enterprises (MSMEs) in Nigeria.
SMEDAN’s Director-General, Mr. Charles Odii, made the call at the unveiling of the GrowHer Accelerator Programme, an initiative designed to mark the 2025 International Women’s Day, held on Thursday in Abuja.
The event, themed “Accelerate Action for Gender Equality,” sought to celebrate the achievements of women entrepreneurs and promote gender inclusivity in the MSME sector.
Odii emphasised the need to move beyond discussions to tangible economic impact. He urged stakeholders to transition from dialogue to implementation, highlighting the crucial role of MSMEs in Nigeria’s economy.
“MSMEs account for 39.65 million businesses in Nigeria, contribute nearly 50% to GDP, and provide 60 million jobs. If there are 100 businesses in Nigeria, 96 of them are MSMEs,” he noted.
Despite their contributions, he acknowledged key challenges such as low manufacturing output (10–15%) and limited industrial jobs. Odii called for urgent measures to strengthen MSMEs and boost industrial productivity.
As part of SMEDAN’s commitment to supporting women entrepreneurs, Odii introduced the “GROW” initiative—standing for Guardians, Resources, Opportunities, and Workforce Support.
“GROW is our promise to you. We will guide you with regulatory support, connect you to financial resources, and provide the opportunities you need to expand,” he said.
Reaffirming SMEDAN’s commitment to practical solutions, Odii assured participants of direct assistance, including guidance for registering with the Nigerian Export Promotion Council (NEPC).
“The dollar standard is rising, and the solution is simple: if you start exporting, the dollar will start coming in. We urge you to take advantage of trade agreements such as the African Continental Free Trade Area and the ECOWAS Trade Liberalisation Scheme to expand your businesses,” he advised.
The Executive Director of NEPC, Mrs. Nonye Ayeni, stressed the need for improved packaging among MSMEs, as poor packaging affects export potential. She encouraged entrepreneurs to work in clusters and de-risk their businesses to attract funding.
“No bank wants to provide funding when they cannot see their money in a business. Women entrepreneurs must de-risk their businesses and tap into available opportunities,” she said.
Meanwhile, the Managing Director of the Nigeria Commodity Exchange, Mr Anthony Atuche, urged entrepreneurs to focus on food production to enhance food security and leverage export potential.
