The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has emphasized the crucial role of stakeholder collaboration in fostering economic growth within the country. This call to action was made during a Stakeholders Engagement Forum and Press Conference held in Lagos, centered around the upcoming SMEs MINE FEST 2025. SMEDAN highlighted the importance of collective efforts to bolster the Nigerian economy, recognizing the significant contributions of small and medium enterprises (SMEs) to national development. The agency underscored its commitment to supporting SMEs through strategic initiatives and partnerships, with the MINE FEST serving as a prominent platform to showcase the dynamism and potential of Nigerian businesses.
SMEDAN’s Director-General articulated the agency’s strategic focus on economic growth through a framework encapsulated by the acronym “GROW”—Guidance, Resources, Opportunities, and Workforce support. This framework represents SMEDAN’s commitment to providing comprehensive assistance to SMEs, encompassing guidance on best practices, access to essential resources, identification of market opportunities, and development of a skilled workforce. The agency emphasized the symbiotic relationship between its mandate and the collaborative efforts of organizations like MINE FEST, recognizing the crucial role of such partnerships in achieving shared goals. SMEDAN called upon stakeholders to leverage their respective strengths and engage actively in supporting the growth of the estimated 40 million Nigerian businesses, contributing to a vibrant and thriving entrepreneurial ecosystem.
The MINE FEST 2025, scheduled for October 2025, is envisioned as a pivotal movement to champion local innovation and celebrate the ingenuity of Nigerian entrepreneurs. The event’s core components include the MINE Trade Fair, a showcase of Nigerian products and services, and the MINE Conference, a platform for dialogue and knowledge sharing on critical issues affecting SME growth. The festival aims to foster a collaborative environment where stakeholders can exchange insights, address challenges, and explore opportunities for innovation and progress. The MINE FEST is not solely focused on exhibition and discussion; it also seeks to recognize and celebrate the achievements of young entrepreneurs who are shaping the future of Nigerian business.
The Under 40 Nigerian CEOs Awards, a key feature of the MINE FEST, will honor 40 trailblazing leaders who are driving innovation and demonstrating exceptional entrepreneurial acumen. This award recognizes young business leaders who are actively building the future of Nigeria’s economy, showcasing their commitment to growth, innovation, and job creation. By highlighting the success stories of these young entrepreneurs, the MINE FEST aims to inspire and motivate aspiring business leaders, fostering a culture of entrepreneurship and contributing to the overall development of the SME sector. The event organizers emphasized the importance of supportive government policies to further promote local production and enhance the competitiveness of Nigerian businesses in the global marketplace.
The MINE FEST 2025 is poised to be a landmark event, bringing together key stakeholders in the Nigerian SME ecosystem to celebrate achievements, explore opportunities, and chart a course for future growth. The event’s focus on local innovation, combined with the recognition of young entrepreneurial talent and the promotion of dialogue on policy issues, underscores its potential to catalyze significant progress in the SME sector. By fostering collaboration and creating a platform for shared learning, the MINE FEST is expected to contribute meaningfully to the overall development of the Nigerian economy, empowering SMEs to thrive and contribute to national prosperity.
SMEDAN’s call for collaboration and the upcoming MINE FEST 2025 represent a significant step forward in fostering a vibrant and dynamic SME sector in Nigeria. By working together, stakeholders can create an enabling environment for businesses to flourish, driving innovation, creating jobs, and contributing to sustainable economic growth. The MINE FEST, with its focus on showcasing local talent, facilitating dialogue, and recognizing outstanding achievements, promises to be a pivotal event in accelerating the growth of the Nigerian SME sector and strengthening its contribution to the nation’s economic prosperity.
