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Nigeria is facing shortage of investment-ready startups, not

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Nigeria is facing shortage of investment-ready startups, not funds — SMEDAN

The Small and Medium Enterprises Development Agency of Nigeria has stated that the country’s major challenge is no longer the availability of funding for startups, but rather the shortage of investment-ready businesses capable of attracting and effectively deploying available capital. The agency said it was therefore training a new generation of entrepreneurship trainers to equip […]

Business

SMEDAN laments low MSME participation in govt support funds

The Small and Medium Enterprises Development Agency of Nigeria has raised concerns over the low participation of Micro, Small and Medium Enterprises in government support programmes, despite significant interventions aimed at boosting business growth. Director General of SMEDAN, Mr. Charles Odii, raised the concern during a working visit to Falcon Chemicals Ltd in Ogun State, […]

MoMo set to activate inbound/outbound transfer capabilities across Africa
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MoMo PSB partners SMEDAN to empower Nigerian SMEs digitally

MoMo PSB, the fintech arm of MTN Nigeria, has entered a strategic partnership with the Small and Medium Enterprises Development Agency of Nigeria to provide digital and financial tools aimed at helping small and medium-sized enterprises run operations more efficiently and scale sustainably. The deal was formalised in Lagos on Wednesday. It will allow registered […]

Business

Sterling Bank, SMEDAN partner to launch data platform

Sterling Bank and the Small and Medium Enterprises Development Agency of Nigeria have developed Databanc, a website that provides data on Nigerian businesses as well as a single-digit loan scheme worth N5 billion. This disclosure was made in a statement by the bank on Wednesday stating that Databank delivers insights that will be used by […]

Nigeria, Germany partner on SME growth
Business

SMEDAN to acquire N6bn motorcycles, tricycles

The Small and Medium Enterprises Development Agency of Nigeria would spend N6.2 billion on motorbikes and tricycles as part of empowerment projects for Nigerian youths and women in 2024. The PUNCH reported that this is despite the fact that 12 state governments and the Federal Capital Territory have completely or partially prohibited motorcycle activities. According […]

Business

SMEDAN seeks partnership to address MSMEs’ power issues

The Director General of the Small and Medium Enterprises Development Agency of Nigeria, Charles Odii, stated that the agency is addressing the power challenges faced by MSMEs in Nigeria. The Punch reported that over thirty percent of businesses in Nigeria are affected by energy costs, according to the Manufacturers Association of Nigeria. The challenges faced […]

Anambra, SMEDAN pledge N1bn to boost SMEs growth
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Anambra, SMEDAN pledge N1bn to boost SMEs growth

The Anambra State Government and the Nigerian Small and Medium Enterprises Development Agency have inked a N1 billion loan support agreement to support the expansion of small and medium-sized businesses in the state. According to The PUNCH, each institution would contribute a total of N500 million towards the agreement’s goals of promoting SME development, innovation, […]

Firm provides training support to SMEs
Business

SMEDAN seeks 25% govt contracts for SMEs

The Director General of the Nigerian Small and Medium Enterprises Development Agency, Charles Odii, has urged the Federal Government to give small and medium-sized businesses a quarter of all contracts. He explained that this is so because SMEs employ over 60 million people and make up roughly 50% of the country’s GDP. Speaking to reporters in […]

US academy to train 120 women in entrepreneurship
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Women own 40% of MSMEs in Nigeria – NBS

A recent study by Small Firm Diaries that was released by the National Bureau of Statistics has revealed that women hold 40% of Micro, Small, and Medium-Sized Enterprises in Nigeria. Only 12% of MSMEs are co-owned by men and women, according to the “Country Data Overview” study, while 48% are owned only by men. According […]

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