The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has reported substantial progress in fostering entrepreneurship and job creation during the first quarter of 2025. The agency’s Q1 performance report highlights a multifaceted approach encompassing empowerment programs, strategic partnerships, and resource provision, all aimed at bolstering the Micro, Small, and Medium Enterprises (MSME) sector. This comprehensive strategy has yielded impressive results, including the creation of over 90,000 jobs for unemployed youth and support for over 116,000 entrepreneurs nationwide.
Central to SMEDAN’s success has been its collaborative approach. Partnerships with private sector organizations like Google and Wema Bank have enabled the agency to provide thousands of entrepreneurs with crucial digital and financial literacy training. This equips them with the necessary skills to navigate the complexities of the modern business environment and fosters sustainable growth. Furthermore, collaborations with members of the National Assembly have ensured alignment with national development goals and facilitated the implementation of supportive policies. By forging these alliances, SMEDAN has maximized its reach and impact, effectively leveraging resources and expertise from various sectors.
SMEDAN’s initiatives extend beyond training and capacity building. The agency has actively facilitated the formalization of thousands of small businesses, guiding them through the registration process with the Corporate Affairs Commission. This crucial step opens doors to access funding, participate in supply chains, and compete effectively in both local and international markets. By integrating these businesses into the formal economy, SMEDAN is contributing to increased economic activity, improved data collection, and enhanced regulatory oversight. This formalized structure provides a foundation for sustainable growth and contributes to the overall stability of the MSME sector.
A prominent example of SMEDAN’s impactful work is the Garment and Textile Hub at the Industrial Development Centre in Idu, Abuja. This facility serves as a model for inclusive industrial growth, providing fashion entrepreneurs with affordable access to modern equipment, reliable power (partially solarized through a partnership with the UNDP), and a safe, conducive workspace. These resources empower local designers to enhance productivity, create jobs, and scale their businesses. The hub’s success demonstrates the potential of targeted interventions to stimulate specific sectors and drive economic development within communities.
Furthermore, SMEDAN’s commitment to empowering entrepreneurs is evident in its distribution of essential work tools. Over 123,000 tools, including vehicles, computers, sewing machines, and generators, were distributed nationwide during the first quarter of 2025. This direct provision of resources helps entrepreneurs overcome financial barriers and facilitates the expansion of existing businesses or the launch of new ventures. By equipping entrepreneurs with the necessary tools, SMEDAN is fostering self-reliance and promoting economic independence within communities.
SMEDAN’s Director General, Charles Odii, attributes the agency’s accomplishments to the "GROW Nigerian" strategy. This strategy focuses on providing Guidance, Resources, Opportunities, and Workforce support to small businesses across the country. This holistic approach addresses the multifaceted challenges faced by entrepreneurs, providing not only material resources but also the knowledge, skills, and connections necessary for success. The emphasis on formalization and market access ensures that businesses are well-positioned to contribute to the national economy and compete on a global scale. This strategic framework reflects SMEDAN’s commitment to fostering sustainable economic growth and empowering Nigerian entrepreneurs.
Looking ahead, SMEDAN plans to build on its first-quarter achievements by expanding its strategic partnerships and focusing on initiatives that further enhance SME access to finance, unlock value chains, and prepare Nigerian businesses for global competition. This forward-looking approach aligns with President Bola Ahmed Tinubu’s "Renewed Hope" agenda, which emphasizes investing in ventures that deliver real impact and contribute to sustainable economic growth. By equipping SMEs with the necessary resources and support, SMEDAN is playing a crucial role in driving national development and fostering a thriving entrepreneurial ecosystem.
