By Nafisat Makinde
The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has announced the creation of over 90,000 jobs in the first three months of the year through its various initiatives.
This achievement is part of the agency’s broader strategy to boost economic growth and development through its “GROW Nigerian” program.
According to the Director-General of SMEDAN, Mr. Charles Odii, the GROW strategy, which stands for Guidance, Resources, Opportunities, and Workforce Support, aims to provide Micro, Small, and Medium Enterprises (MSMEs) with the necessary tools and support to overcome common obstacles and experience growth in various sectors of the Nigerian economy.
“GROW Nigerian is SMEDAN’s strategic blueprint outlining plans to accelerate economic growth by providing vital resources to MSMEs in key sectors of the Nigerian economy,” Odii stated.
The agency plans to focus on eight critical sectors, including agriculture value chain, fashion and textile industry, tourism and hospitality, manufacturing and production, education, Nigerian digital economy, innovation, and new tech adoption.
Through the GROW strategy, SMEDAN will provide MSMEs with expert advice, mentorship, and strategic direction, essential tools, funding, technology, and infrastructure, platforms and market access opportunities, and training and skill development programs.
Odii expressed optimism that through the GROW Nigerian strategy, SMEDAN would be able to address some of the identified challenges facing MSMEs businesses in Nigeria, such as difficulty in accessing capital and funding, high operating costs, regulatory burdens, lack of skilled workforce, and inadequate physical and technological infrastructure.
“If SMEDAN, in collaboration with key partners and stakeholders, empower entrepreneurs with the right combination of what they need to grow – knowledge, capital, team support, access to market, network and ecosystem support – their growth will be accelerated and they will build sustainable businesses that will create jobs, improve our quality of life and deliver value for all,” Odii concluded.
