The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has announced the creation of 90,160 jobs for unemployed youths and the empowerment of over 116,000 entrepreneurs across the country in the first quarter of 2025.
This impressive achievement is attributed to targeted empowerment programs and strategic partnerships aimed at strengthening Nigeria’s Micro, Small, and Medium Enterprises (MSMEs) sector. SMEDAN’s Q1 performance report, released in Abuja on Tuesday, highlighted the agency’s continuous commitment to fostering growth in the entrepreneurship ecosystem.
Empowering the Entrepreneurial Landscape
SMEDAN’s efforts were bolstered by strong collaborations with both private sector partners and members of the National Assembly. The agency worked closely with corporate giants like Google and Wema Bank to provide training in digital and financial literacy, essential for success in today’s competitive market.
One of the key accomplishments was the formalization of thousands of small businesses, supporting them in registering with the Corporate Affairs Commission. This step has made these businesses more equipped to access funding, participate in supply chains, and compete effectively in both local and global markets.
Innovation in Industrial Growth
In a major milestone for inclusive growth, the Garment and Textile Hub at the Industrial Development Centre in Idu, Abuja became a symbol of progress. The hub offers fashion entrepreneurs access to modern machinery, steady power (via a partnership with UNDP), and a conducive work environment. This initiative has led to higher productivity, job creation, and greater scalability for local designers.
Tools for Growth
To further support business expansion, SMEDAN distributed 123,743 work tools across the country, including SUVs, mini buses, industrial sewing machines, laptops, tricycles, and generators. These tools help entrepreneurs start or expand their businesses, enhancing the growth potential of MSMEs in all 36 states of Nigeria.
SMEDAN’s Vision for Sustainable Growth
Charles Odii, Director-General of SMEDAN, remarked that the GROW Nigerian strategy—focused on providing Guidance, Resources, Opportunities, and Workforce support—has been the driving force behind these initiatives. He emphasized that SMEDAN’s goal is not just to grow businesses but to help them transition into the formal sector, where they can contribute more significantly to the economy.
Strategic Partnerships for Future Growth
Odii also shared that several new partnerships signed in Q1 will continue to yield results in the coming months, especially in expanding access to finance, unlocking value chains, and preparing Nigerian businesses for global competition. The agency aims to improve product quality, pricing, and market access, equipping Nigerian entrepreneurs to thrive locally and internationally.
Aligning with National Development Goals
SMEDAN’s work aligns with President Bola Ahmed Tinubu’s Renewed Hope agenda, which seeks to address the country’s fundamentals and invest in ventures that deliver real impact. Odii reaffirmed SMEDAN’s commitment to Nigeria’s long-term development, stressing that with the right support, Nigerian SMEs have the power to drive sustainable and inclusive economic growth.
