Abuja: The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has announced a significant achievement, having mobilised over N11 billion in financing support for small businesses over the past two years. This initiative, which falls under President Bola Tinubu’s Renewed Hope Agenda, has also facilitated the creation of more than 100,000 jobs nationwide.
According to News Agency of Nigeria, Charles Odii, the Director-General of SMEDAN, highlighted that the agency’s efforts represent a deliberate strategy to expand access to finance, tools, and training for small businesses across Nigeria. These actions align with the national goals of fostering inclusive economic growth and driving job creation.
“In just two years under President Tinubu, we have made real, measurable progress at SMEDAN,” Odii stated. “We have mobilised over N11 billion to make financing more affordable for small businesses and helped create more than 100,000 new jobs across the country.”
Odii further explained that through strategic partnerships with the National Assembly, SMEDAN has empowered thousands of entrepreneurs by providing tools and equipment to boost productivity in various sectors. As part of efforts to revitalise local production, SMEDAN has also restored operations at several Industrial Development Centres in Abuja, Osun, and Katsina States, benefiting small businesses with access to modern machinery, steady power supply, and enterprise support.
The director-general also elaborated on collaborations with international development partners such as the United Nations Development Programme (UNDP), GIZ, and Google. These partnerships aim to enhance the digital and technical capacity of Nigerian entrepreneurs while opening new pathways to local and international markets.
Odii emphasized that formalisation remains a key focus for the agency, with partnerships established with key regulatory bodies like 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). These collaborations aim to assist small businesses in registration, compliance, and growth within a more supportive environment.
On the topic of youth inclusion, Odii noted that SMEDAN is working with the National Youth Service Corps (NYSC) and other institutions to help young Nigerians transform their ideas into successful enterprises. “This is what the Renewed Hope Agenda looks like in action; real support, real results, and a growing ecosystem where Nigerian businesses can thrive,” he said.
Odii also highlighted the success of the SMEDAN Garment and Textile Hub at the Idu Industrial Development Centre in Abuja, describing it as a model for inclusive industrial development. The solar-powered hub, established through a partnership with the UNDP, provides fashion entrepreneurs with access to affordable industrial machines and stable power supply, increasing productivity and job creation.
The director-general reiterated SMEDAN’s commitment to the ‘GROW Nigerian’ strategy, focusing on Guidance, Resources, Opportunities, and Workforce support for SMEs. “The result is more jobs, stronger businesses, and greater value unlocked within communities nationwide,” he added.
Odii affirmed the agency’s dedication to further deepening SME development as a critical driver of economic transformation and national prosperity.