SMEDAN

Abuja, Jan. 25, 2024:) The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), has secured a N1 billion funding agreement to support small businesses in Katsina State.

The Director-General of SMEDAN, Mr Charles Odii, said on Thursday in Abuja that the project would kick start this quarter with an initial injection of N250 million.

The director-general, who received Katsina State Governor, Dr Dikko Radda in Abuja, acknowledged their shared vision of driving national prosperity through SME growth.

Odii thanked Radda, who served as the director-general of the agency for six years before his emergence as governor, for his continued commitment to the agency’s mission.

He described small businesses as the bedrock of the country’s economy.

“The potential of SMEs in Nigeria to drive lasting growth and prosperity is undeniable. The evidence of their resilience and innovative brilliance is all around us.

“Government support remains crucial for their success, and this is our mission at SMEDAN.

” To create an enabling ecosystem for SMEs to thrive, offering ready access to finance, streamlined market entry, and regulatory support.”

On his part, Gov. Radda highlighted the importance of SMEs to national growth and their central role in President Bola Tinubu’s economic agenda.

He explained the efforts of the state SME development agency and the necessity of collaboration with SMEDAN to harness the contributions of SMEs in job creation and economic revitalisation for the good of Katsina state.

Radda lauded Odii’s creative approach and successes within his first 100 days at the agency’s helm, urging staff members to extend their full support to him.

He said that part of the agreement with SMEDAN was the overhaul of the Industrial Development Centre (IDC) in Katsina.

“The goal is to transform the IDC into an impactful incubator, providing SMEs with discounted access to modern tools and essential infrastructure, including power, thereby enhancing local production quality and reducing operational costs,” Radda said.

Also speaking, Ayodele Olawande, the Minister of State for Youth, commended SMEDAN’s engagement of young people in creative production and income generation activities.

SMEDAN had signed similar agreement with Anambra and Enugu state governments.

Meanwhile, SMEDAN has inaugurated its flagship initiative, ‘One Local Government One Product’ (OLOP), designed to empower local cooperatives to stimulate production.

The SMEDAN boss said this would be done by supporting businesses to leverage the unique resource of each local government.

Some selected cooperatives in the agribusiness value chain were presented with funds during the unveiling of the programme, which was also meant to address Nigeria’s food inflation challenge and boost export.

Abuja, Dec. 21, 2023: Vice-President Kashim Shettima on Wednesday reiterated the commitment of the President Bola Tinubu’s administration to poverty reduction and economic revitalisation.

Shettima stated this while inaugurating the corporate headquarters of the Small and Medium Enterprise Development Agency of Nigeria (SMEDAN) in Abuja.

According to him, the Tinubu’s administration is strategically focusing on job creation, capital accessibility, economic growth, and poverty eradication to revamp the economy.

Shettima said the federal government under President Tinubu’s watch would never shift ground in its determination to protect businesses in the country.

The vice president noted that enterprises are not only the very bedrock of a society but also reflect the direction the government is heading to and the speed with which it is doing so.

“Allow me to emphasise the importance of this moment: there is no more fitting time than now to reinforce the protection of enterprises in Nigeria.

“These enterprises not only stand as the very bedrock of our society but also reflect the direction the government is headed and the velocity with which we do so.

“This moment solidifies President Bola Tinubu’s assurance to protect our enterprises. It resonates deeply within our economic revitalisation plan.

“His focus on job creation, capital accessibility, economic growth, and poverty eradication forms the very skeleton of our strategy to invigorate the economy. Inevitably, this path demands tough decisions, yet ones essential to our success,” he said.

Shettima also recalled that he had inaugurated the National MSME Council ten days ago, adding that it was just the beginning that sets the stage for what is up ahead.

He said that President Tinubu intends to make sure businesses and other economic enterprises prosper in the country.

“Our partnership with the Bank of Industry to unveil a N75 billion, nine per cent interest loan accessible to Nigerian MSMEs as of January 2024 is a pivotal stride.

“This initiative is geared towards fostering a more conducive and enabling business environment.

“This government doesn’t just boast some of the nation’s finest talents; it champions those invested in ensuring our business owners have front-row seats in our journey towards progress.

The goal, he said, would cultivate an ecosystem where Nigerian businesses become regular features in globally recognized publications such as Forbes, Bloomberg, and the Financial Times for the right reasons.

“We are all well aware that Mr. President’s readiness to take action has never faltered, and what we are witnessing here is just a component of the strategies in place to create a future brimming with endless opportunities”.

Shettima lauded the Minister of Industry, Trade, and Investment, Dr Doris Uzoka-Anite, and the leadership of SMEDAN for the project, adding they had proven that they are ready to transform “concepts into tangible actions.

“This initiative renews hope for a critical segment of our entrepreneurial community, and highlights our sensitivity to the economic clock of the nation,” he added.

In her remarks, Uzoka-Anite, thanked the vice president for his unwavering support to MSMEs in the country.

She said the completion and commissioning of the new SMEDAN Complex was a clear demonstration of the commitment of the Tinubu administration to the development of the MSME space.

She also outlined other initiatives of the federal government targeted at building capacity and linking MSMEs to markets at home and abroad.

The Director-General of SMEDAN, Mr Charles Odii, also thanked Shettima for his support and guidance in the actualisation of the project and leadership in the MSME space.

He said the agency and the entire MSME community in Nigeria had recorded significant achievements within a short period of time under his stewardship.

Odii assured that the agency will continue to collaborate with sister organisations to ensure sustainable growth in the sector.

Also, Mr Temitola Adekunle-Johnson, Senior Special Assistant to the President on Job Creation and MSMEs, Office of the Vice-President, said the federal government would continue collaboration with stakeholders across the public and private sectors to support MSMEs both in grants and loans.

Enugu, Dec. 20, 2023: Governor Peter Mbah of Enugu State, has announced partnership between the state and Small and Medium Enterprises Development Agency of Nigeria (SMEDAN).

Mbah disclosed this  in a post on his verified X page @PNMbah, on Tuesday.

While reiterating commitment to nurture a thriving SME ecosystem and foster economic growth objectives in the state, Mbah disclosed that the ground breaking initiative tagged N1 Billion Matching Fund Programme, will empower small and medium-sized enterprises (SMEs) in Enugu State.

He added that the initiative would also  pave the way for their growth and success.

According to him, the initiative will introduce Conditional Cash Grants for 5,000 MSMEs, providing them with crucial financial support needed to thrive.

He further stated that the collaboration between Enugu State and SMEDAN spans various impactful programmes, including skill acquisition, startup loans, and the creation of modular industrial estates, among other essential initiatives.

He also thanked Mr Charles Odii, the Director General of SMEDAN, “for his vision, tenacity, and commitment to helping SMEs,” and promised that his administration would continue to collaborate with SMEDAN in the pursuit of economic expansion and advancement.

He wrote, “I’m excited to announce our partnership with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), on a groundbreaking initiative – a N1 Billion Matching Fund Programme.

“This commendable initiative is set to empower Nano, Medium, Small and Medium-sized Enterprises (NMSMEs) in Enugu State, paving the way for their growth and success.

“Moreover, our collaboration with SMEDAN spans various impactful programmes, including skill acquisition, startup loans, and the creation of modular industrial estates, among other initiatives.

“Enugu State is committed to creating a prosperous future for our SMEs and the community at large.

“We will keep collaborating to achieve our goal of economic expansion and advancement.”

Abuja, Nov. 23, 2023: The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) and Sterling Bank have set aside N5 billion loan for small businesses.

The Director-General of SMEDAN, Mr Charles Odii, said this during the signing of a Memorandum of Understanding (MoU) between the parties on Wednesday in Abuja.

Odii said the funds, which would be available in two weeks, would help solve the problem of many small business owners, which is easy access to affordable finance.

”This MoU is basically to create a loan portfolio of N5 billion at a single-digit interest rate for small businesses across different sectors.

”With this loan portfolio, we can make available access to finance for close to 10,000 small businesses.

”The funds will be available in two weeks, and we are giving ourselves that time because of the pre-learning activities we need to do.

”After they have accessed the money, we will continue with some post-learning activities and work with Sterling Bank to monitor the business and the fund’s progress.

The director-general called on the media to disseminate the information to people at the grassroots who require access to funds.

”I hope you will work with us to ensure this information goes to the inner cities in the country,” he said.

Meanwhile, the Managing Director of Sterling Bank, Mr Abubakar Suleiman, said the job of the bank was to guide small businesses to position themselves to attract funding.

”So, as much as giving them low-interest rate finances is a significant part, the real gain is that if they pass through this process successfully, they can access finance anywhere.

”We are hoping that of 10,000 people that will access this fund, we will see 2,000 quickly outgrow this and then request commercial funding.

”This is because their business model will improve so quickly that they will realise that more money available through this is needed.

”So, this is like training for small businesses to enable them stabilise their current businesses and position them for expansion,” he said.

According to Suleiman, the programme will be delivered through a technological platform called Banker to ensure easy access to the fund.

”The Banker is designed to not only allow you access to this financing but to organise your business, start to keep your record and help you pay back when it is time.

”Any business that passes through this programme, even though they fail to access or meet the standard to access the fund, will leave better off.

”They will understand why they cannot access the funding, and they can go back, make changes to their business practises, and come back and access funding.

According to Suleiman, the funds will be given out for an original tenure of two years, subject to the type of business and nature of the contract.

He said: “we will give you time to use the money before you start repaying, and the funds will not be given based on collateral.

”It will be based on your business, the fact that you are a law-abiding business and citizen, you do not have a bad credit history, and the contract between us.

”We will be publishing a link which SMEDAN will announce that will allow us to build a list of interested applicants, and in two weeks, the process will have been completed to start disbursement.

“Suleiman, therefore, reiterated that the programme’s success would not just be measured by giving out the funds but by how well the businesses are doing after accessing the funds.”

While commending SMEDAN, he said, ”If Nigeria is going to grow, it will be because of small businesses.

“If the small businesses ever become competitive, it will be because of the work of SMEDAN.”

Uyo, Nov. 8, 2023: The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) says the agency has put modalities on ground to push up the nation’s yearly earnings in non-oil exports to US$35 billion dollars in the next five years.

The Director General of SMEDAN, Mr Charles Odii disclosed this in his remarks during a three-day capacity-building workshop on packaging and branding of products for Africa Continental Free Trade Agreement (AfCFTA) in Uyo on Tuesday.

Odii was represented by the Acting Director, Partnership and Coordination Department of SMEDAN, Prof. Adeyinka Fisher.

The director general said that in the first six months of 2022, Nigeria recked in a total revenue of 2.5 billion dollars in non-oil exports.

Odii said: “The Observatory of Economic Complexity (OEC) once ranked Nigeria as the 49th largest export economy in the world, having exported goods worth US$47.8 billion dollars and imported goods worth US$39.5 billion dollars.

“Nigeria’s non-oil export is projected to hit 25 billion dollars by 2025, from US$2.7 billion in 2022, according to Nigeria Export Promotion Council (NEPC).

“May, I express the determination of SMEDAN to push Nigeria’s export target to US$35 billion per annum over the next five years.”

Odii further said that the agency would increase the number of SMEs that meet AfCFTA standards and those of other international markets to enhance cluster development and improve common processing facilities and value addition.

“We will increase access to global business information, enhance regional integration, and ensure increased turnover for SMEs,” Odii said.

According to him, SMEDAN has also mapped out several plans to achieve its goal, including sustained and vigorous training of entrepreneurs on packaging and branding of products to promote value addition.

He added that one of the challenges confronting Nigerian exporters was rejection and under-pricing of their products in the international market due to poor packaging and branding, and inadequate information on the rudiments to function in the global market.

He encouraged exporters to be seriously involved in product development to enable them to take advantage of the Africa Continental Free Trade Agreement (AfCFTA) to earn foreign currency and help generate revenue for the nation.

Earlier in his remarks, the Commissioner for Trade and Commerce, Mr John Etim, who declared the event open, said that the state government would continuously partner with SMEDAN on product development for export.

Also speaking, the state Commissioner for Economic Development, Mr Emem Bob declared the ministry’s readiness to support SMEDAN.

Bob urged the participants to take the training seriously to enable them to sell their products on the international market.

The theme of the workshop is: “Empowering Small and Medium Enterprises for Global Competitiveness through Packaging and Branding.”

Abuja, Nov. 2, 2023: The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) on Wednesday in Abuja enjoined the Federal Government to award 25 per cent of its contracts to Small and Medium Enterprises (SMEs).

This is desirable as SMES contribute about 50 per cent of the country’s GDP and employ about 60 million people, SMEDAN’s Director-General, Mr Charles Odii, told newsmen.

“Government is the biggest spender; the biggest employer of labour. We want small businesses to benefit from contract awards.

“What that means, however, is that small businesses need to be well-equipped to be able to win government contracts.

“Ninety-six per cent of businesses in Nigeria are small businesses; so it is only 4 per cent that are big,’’ Odii noted.

The director-general said a meeting he held earlier with young legislators and small business owners aimed at getting a first-hand view of their challenges which mostly bothered on cost and funding.

He assured that SMEDAN would help small business owners to reduce cost of production.

“A lot of banks want to give funding, but they can’t give small businesses because they are not adequately structured to receive the funding.

“We shall help at least one million entrepreneurs to structure their businesses to become eligible for such funding.

“There is an EU delegation that has funds for climate and renewable energy; we launched a desk immediately on renewable energy to start attracting the funds.

“The legislators will help to advocate for right policies for small businesses to thrive,’’ he said.

The director-general said the agency was also working at ensuring that Nigerians at the grassroots became aware and benefit from government provisions.

“We shall go into the nooks and crannies of Nigeria; into the inner recesses to have this kind of dialogue to let people know.

“Government is doing a lot, but many times, people do not take advantage of the provisions.

“We are democratising access to information using the social media and life engagements like town hall meetings.

“That is why we have legislators here. They will go with the message to their people and that is how we will disseminate information to the grassroots,’’ Odii stressed.

Some legislators at the meeting pledged their support for SMEDAN’s advocacy drive to grow SMEs.

Rep. Ishaya Lalu, member representing Mangu/Bokkos Federal Constituency in Plateau, said: “As parliamentarians we shall support SMEDAN in terms of its budget.

“We appreciate President Bola Tinubu for appointing young people into strategic positions. The future of Nigeria is brighter now than before.’’

Kaduna, Oct. 31, 2023(NAN) The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) says youths need to harness the potentials in waste materials for creating wealth for the nation’s economic growth.

The Director-General of SMEDAN, Mr Charles Odii, stated this in Kaduna at the 7th edition of the agency’s 2023 talent hunt, with the theme “Circulating: reimagining and reutilisation of resources”.

The talent hunt was in collaboration with the Kaduna State Government and supported by Jaiz Bank.

Odii was represented by Prof. Yinka Fisher, the Acting Director, Partnership and Coordination Department of SMEDAN.

He noted that waste was loaded with a lot of potentials of wealth, which according to him, was enough to take Nigeria’s dependency away from oil and other resources being overstretched over the years.

He added that the conversion of waste to useful and valuable items and commodities, if well harnessed by the youth, would go a long way in reducing the burden of government on job creation and reducing climate challenges.

According to him, the agency is committed in identifying talents among youths who are making impact in the entrepreneurial ecosystem.

He expressed concern that a lot of young Nigerians with innovative business talents were limited with opportunities to express/showcase them or take action towards the conception.

“These individuals are scattered across Nigerians willing to contribute in their own ways to the development of Nigeria,  most importantly, the undergraduates.

“Also, graduates, unemployed youths and adults, who can contribute to the GDP of the nation, are critical in fostering strategic youth development

and nation-building.

“This programme is to chase for these individuals and sublime them in productive activities,” Odii said.

According to him, the practice of collecting, treating and recycling waste prior to disposal has become a necessity in developing and modern societies.

The DG, however, lamented that over the years, most wastes were regarded as having second-rate value and could be recovered and reused for valuable

goods.

“Waste recycle has emerged as one of the greatest challenges facing many developing countries. Daily human activities lead to the generation of various classes of waste, which is seen as a major environmental threat to many cities in developing nations worldwide.

“The factors affecting such a high rate of change in waste generation

includes population growth, changing lifestyles, income growth, increasing use of disposable materials, excessive packaging of items, and consumer habits.”

The DG also lamented that most developing countries, including Nigeria, had waste recycling issues different from those found in industrialised countries as

regards to composition, density.

This is despite several investment opportunities that waste recycling offers with very high return on investment for public and private sectors.

“In Nigeria, waste densities generally range from 250-370kg/m, unfortunately people in many developing countries, including Nigeria, have until recently regarded the issue of proper waste recycling as trivial.

“This may have diverted attention away from the most urgent and serious problem of achieving a fast rate of economic growth, this attitude stems from the belief that waste generation is an inevitable price for development,” Odii said.

The DG said that the overarching objective of the talent hunt was to provide a platform and unique opportunity for young people to showcase their talents in the secular world and ensure that what they were showcasing created jobs, employment and revenues.

Mr Abubakar Buba, the Kaduna State Commissioner for Environment and Natural Resources, said that yearly, the state generated more than 900 tons of waste.

Buba, represented by Mr Yusuf Muazu, added that the state was transforming into integrated waste management system.

Also, Dr Yusuf Saleh, the Permanent Secretary, Kaduna State Ministry of Business Innovation and Technology, commended SMEDAN for the initiative.

He added that the North-west region was declining in business, saying that the idea of waste to wealth if well harnessed, would braise up businesses in the region.

He described the issues of converting waste to wealth as a baby idea which needed all hands on deck to maximise the benefits inherent in it.

Also, a Branch Manager of Jaiz Bank in Kaduna, Alhassan Ado, said their support for MSMEs was due to their commitment in supporting the nation’s building through financing and partnership with private and public sectors.

He disclosed that the bank had a lot of funds yet to be secured by MSMEs in promoting their businesses.

He urged the public to tap into the funds for their benefits and the nation’s economy at large.

Earlier, the Speaker of the Kaduna State House of Assembly, Mr Yusuf Liman, said the economy could only be developed through private sector.

Liman, represented by his deputy, Mr Magaji Henry, urged the participants to deviate from thinking of getting white collar jobs, adding that the potentials inherent in waste materials were enough to make one an employer of labour.

He expressed the willingness of the state House of Assembly to create laws that would ensure legislation on waste materials and enabling environment for MSMEs to thrive.

Lagos, Oct. 19, 2023: Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has awarded practicing licenses to 116 qualified Business Development Service Providers (BDSPs).

Dr Charles Odii, Director-General, SMEDAN, said at the Business Development Service Providers (BDSPs) Licencing Award ceremony organised by the agency on Wednesday in Lagos.

Odii said that the practicing license would allow BDSPs to provide quality service delivery to the Micro Small and Medium–sized Enterprises (MSMEs) in the country.

BDSPs certification was in collaboration with Kaduna Business School, the Enterprise Development Centre, Pan Atlantic University.

The BDSPs are Nigerians from the entrepreneurial ecosystem across the country that have met the requirements to practice their profession in a particular jurisdiction.

This typically involves completing a certain amount of education and training, passing an exam, and maintaining good moral standing.

Odii said, “Today is a very big day for us at the agency because we awarded licenses to business development service providers and this is very important, and a response to the cry of small businesses in Nigeria.

“Many of them have different problems, just like you have sick patients and you have doctors, a couple of certified individuals need to go through rudimentary process to become certified to be able to attend to sick individuals.

“We have a staggering statistics that show that 70 per cent of small businesses die in the first three years and why do they die?, for many different reasons.

“So, what we have done as an agency is we have recruited a couple of people, they have gone through a scholarly process of training from the Enterprise Development Centre and Kaduna Business School, and then they’ve gotten a certification and their license then become our eyes and ears in all of Nigeria.

“So, their job right now is to go into the market, help small businesses thrive.’’

The SMEDAN boss also said that one of the biggest problems small businesses in Nigeria were faced with was lack of business structure, noting that this had hindered them having access to funding.

“In an effort to ensure a credible access to more affordable finance for MSMEs in Nigeria, the agency is partnering with an NGO, The African Centre for Global Entrepreneurial Leadership.

“This is to implement the Leadership Entrepreneurial Game Show, where successful participants will be given N5 million worth of grants and tools.

“The game show is on-going now and all existing and potential entrepreneurs are encouraged to log into www.legs.afrca for registration,’’ he said.

Odii hinted that the agency was partnering with selected banks to implement the Matching Fund Programme for MSMEs toward increasing access to finance.

This intervention, he said, was delivering credit as a promotional mechanism to enhance enterprise output, competitiveness and job creation..

According to him, prospective beneficiaries can have access to loans between N500 million and N2.5 million.

Odii urged all suitable qualified MSEs in the agribusiness sub-sector to apply via the SMEDAN website www.smedan.gov.ng.

Dr Dahiru Sani, Rector, Kaduna Business School, while taking them through the portal, said that the primary responsibility of the BDSPs would be to support MSMEs in terms of how they would be responding to the shocks of the recent policy issues.

Sani, also a member of the National Steering Committee for the Accreditation and Certification of the BDSPs in Nigeria, said, “Our expectations now are that they are going to give us what we call a buffer or mechanical shock absorber for the MSMEs.

“They are going to go round within their ecosystem, do a survey, find out about the challenges they face and try to see what kind of interventions will be required.

“Sometimes its financial, emotional resilience, technology support, access to market, the quality of people within the system.

“Sometimes it’s shifting the focus of the market from Nigeria to outside the country, sometimes it’s creating a bigger portfolio where you can earn in different currencies,’’ Sani said.

Lagos, Oct. 18, 2023: Prof. Adeyinka Fisher, Deputy Director, Partnership and Coordination Department, SMEDAN, has urged people with special abilities to invest in proper marketing to achieve their business goals.

Fisher gave the advice at the end of a two-day capacity building programme on Grant and Growth Support for Business Membership Organisation (BMOs) and trade associations, organised by the agency on Tuesday in Lagos.

According to him, proper marketing is essential for any business that wants to succeed.

“By investing in marketing, you can attract new customers, increase sales, build customer loyalty, differentiate yourself from the competition, and be proactive,’’ he said.

Fischer said that there were many benefits that a business owner could get from investing in marketing when properly carried out, adding that it could promote their small businesses to potential customers in the local community.

He stressed that marketing was everything they needed to do to find out who their customers were, how to gain their patronage, and how to ensure continuous patronage with a view of making profit.

The deputy director advised them to also carry out market research as doing so would help them to understand their target market and help them to know the essentials for developing effective marketing campaigns.

He advised them to also create a strong brand identity that would help them to stand out from the competition and build trust with potential customers.

Fisher advised them to design a market strategy that would help them develop a plan on how they would reach and attract their target customers, and convince them to buy their product.

According to him, this plan should be based on a deep understanding of the market, their target customers, and their competition.

Earlier, Mrs Folashade Ambrose-Medebem, Commissioner for Commerce, Cooperatives, Trade, and Investment, Lagos State, urged participants not to let the challenges of the Nigerian business environment prevent them from achieving their goals.

“I am here to encourage you. No matter how the business environment is, we should not allow it to hinder our business because the sky is your limit, nothing should limit you,’’ she said.

The commissioner assured participants that the ministry would liaise with SMEDAN to see how some of the participants would be given slots to sell their products in one of the state’s upcoming exhibitions.

Ambrose-Medebem, represented by a staff of the ministry, advised them to join cooperatives so that it would be easy for them to get help.

She said, “ Nigeria is going to be great again. Let us just have the mindset that someone is out there waiting for our product and we will prosper.’’

Mrs Jacqueline Abayomi-Oscar, Chief Executive Officer, Partnership and Coordination Department, SMEDAN, also discussed business visionary and goal setting with the participants.

She advised them to have clear vision for their business and what they aimed to achieve.

Abayomi-Oscar said, “a business visionary should be able to think strategically and see beyond the day-to-day operations of their business.’’

The participants were awarded a certificate at the end of the training and a support grant of N50, 000.

One of the beneficiaries, Mr Lawal Jamal, who produces liquid soap, thanked SMEDAN for the gesture, and said that the grant would help him package more products to meet his customers’ needs.

He said: “I want to say a big thank you to SMEDAN for giving us this opportunity to make our product well packaged to the world.’’