To celebrate World MSME Day 2026, the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has secured a $12 million commitment from the South Korean Government to build an advanced Skills Acquisition Centre in Abuja. SMEDAN Director-General Charles Odii announced that the hub will provide vocational and entrepreneurship training to thousands of young citizens. While awaiting land allocation from the FCT Administration, Odii stressed that the agency is prepared to utilize its existing facility in Idu, Abuja, to ensure Nigeria capitalizes on this international development partnership.
Simultaneously, SMEDAN has introduced a N500 million zero-interest revolving “Grow Fund” to eliminate financing bottlenecks for local micro-businesses. Designed following direct field feedback from market traders—including butchers, vegetable vendors, and store owners—the capital will not go to individuals directly. Instead, SMEDAN is employing an association-based lending framework, disbursing funds through trusted cooperative societies and trade groups to guarantee monitoring, boost transparency, and ensure the credit goes exclusively to genuine small business operations.
