Akure, Nigeria – Marking World MSME Day, SMEDAN’s Ondo State office has reinforced its commitment to empowering local entrepreneurs through its ‘Grow Nigeria’ initiative, while tackling critical challenges like energy costs and funding gaps.
Key Announcements
Patronage Push: Campaign to boost demand for Nigerian-made goods
Energy Solution: Solar equipment distribution to curb ₦350k/month power costs
Alarming Stat: 80% of Nigerian businesses fail within 3 years (Funding/management gaps)
Prince Olatomi Ikuomola (SMEDAN Coordinator):
“Our entrepreneurs defy economic odds daily. Through solar energy support and local patronage drives, we’re building business resilience.”
Entrepreneur Voices
Bunmi Anifowose (Supple Treats Edibles):
“SMEDAN’s recognition fuels our motivation, but proactive engagement is key.”
Yusuf Olakunle (Kunfa Technical):
“Funding processes remain frustrating. High-interest loans threaten business survival.”
Strategic Focus
Reducing OpEx: Solar alternatives to slash energy costs
Market Creation: ‘Grow Nigeria’ as GDP booster
Youth Mobilization: Shift from job-seeking to job creation
Next Steps: Expanded state-level interventions through 2024
