The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has disbursed a ₦30 million grant to 300 small-scale entrepreneurs in Cross River South. This initiative supports grassroots economic growth and promotes self-reliance among local business owners.
SMEDAN Director-General, Charles Odii, announced the grant during a ceremony held at the University of Calabar. He noted that each beneficiary received ₦100,000. Additionally, recipients also underwent training and received starter packs to aid their business growth.
Beyond Cash: Tools and Training for Lasting Impact
Odii emphasized that the goal goes beyond financial aid. SMEDAN designed the program to improve capacity, create job opportunities, and reduce poverty. As a result, beneficiaries not only walked away with cash but also gained knowledge and equipment.
He urged recipients to use the grant wisely and reinvest in their ventures. According to him, “Your growth is critical to Nigeria’s economy. What you do with this support will shape the future of our entrepreneurial landscape.”
The agency is also collecting data from MSMEs across the country to improve support services. This digital mapping aims to identify specific business needs and monitor growth.
Related: Enugu Unveils Women’s Economic Initiative with World Bank Support
Why This Matters to Entrepreneurs
For small business owners struggling with capital, this ₦30 million grant intervention provides not just relief but also a foundation for sustainability. It shows that government agencies like SMEDAN are serious about empowering local entrepreneurs, especially in underserved regions.
Additionally, the combination of cash, tools, and training makes it more likely for businesses to succeed long-term. This integrated approach also aligns with Smartpreneur’s mission: helping entrepreneurs thrive through actionable support and resources.
At Smartpreneur, we know that funding and access to education are two of the biggest challenges MSMEs face in Nigeria. Programs like the Conditional Grant Scheme demonstrate that when the right policies meet practical delivery, entrepreneurs can scale faster, create jobs, and build more resilient businesses.
Whether you’re based in Cross River or anywhere else in Nigeria, this development is a strong reminder to stay alert for similar funding and support opportunities. Smartpreneur.ng will continue to track, spotlight, and explain how entrepreneurs can tap into them effectively.
