The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has pledged its support to small and medium enterprises (SMEs) in Anambra by allocating N1 billion. This commitment was solidified through a memorandum of understanding (MoU) with the Anambra government, aimed at fostering SME growth through a matching funds agreement.
SMEDAN emphasized that this partnership aims to facilitate broader access to crucial funding opportunities for SMEs nationwide. Charles Odii, director-general of SMEDAN, lauded the Anambra government’s dedication to empowering entrepreneurs, emphasizing the pivotal role SMEs play in propelling economic advancement.
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Odii highlighted that SMEs account for a significant portion of employment and contribute substantially to the nation’s gross domestic product (GDP). He stressed that investing in these small businesses is integral to kickstarting the economy and ensuring sustained growth.
Under Odii’s leadership, SMEDAN is actively exploring avenues, both domestically and internationally, to mobilize and direct resources towards SMEs across the country. This strategic approach aligns with the president’s ‘renewed hope agenda’, centered on fostering economic prosperity.
Odii revealed ongoing dialogues with various local and international entities, focusing on bolstering funding and enhancing capacity development for SMEs. He also announced the recent launch of the SMEDAN Climate and Green Energy Desk (SCGED) to support climate-conscious entrepreneurs in overcoming environmental obstacles impeding SME growth.
Furthermore, Odii assured that once accessible to SMEs, the allocated funds will be disbursed promptly, transparently, and equitably, removing any barriers that might hinder deserving SMEs from accessing these crucial resources. This commitment underscores SMEDAN’s dedication to facilitating the sustainable growth of SMEs in Nigeria.