By Ladi Gbegi
Small and Medium Enterprises Development Agency of Nigeria ,SMEDAN, says its new “GROW Nigerian” strategy will empower small businesses with vital support to drive economic growth.
The Director-General of SMEDAN, Mr Charles Odii, said this at a meeting with the Commerce and Industry Correspondents Association of Nigeria ,CICAN, in Abuja.
The GROW Nigerian strategy is an acronym for Guidance, Resources, Opportunities and Workforce.
Odii said that the initiative would provide the necessary support to help Micro, Small and Medium Enterprises ,MSMES, overcome challenges and scale up operations.
According to him, the initiative offers mentorship, expert advice, tools and infrastructure to boost operational efficiency and long-term sustainability for small businesses across Nigeria.
According to him, said through the programme SMEDAN will provide MSMEs access to funding, new markets and platforms to showcase their products and services, expanding their commercial reach.
He said that SMEDAN would also deliver skills training and human capital development to support entrepreneurs and foster innovation and productivity in the MSME sector.
“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.
“It proposes our theory of “change” which holds that by providing adequate guidance, resources, opportunities, and workforce support, SMEs can overcome common obstacles and experience growth”, he said.
Odii said that the agency recorded over 90,000 jobs created in the first quarter of 2024 through its various initiatives.
He said that the GROW strategy would focus on eight sectors: agriculture value chain, fashion and textiles, tourism, manufacturing, education, digital economy, innovation, and technology adoption.
He identified major challenges facing MSMEs, including poor access to capital, high operational costs, regulatory burdens and a shortage of skilled labour and infrastructure.
He said that tackling these barriers required collaborative efforts between government, private sector and development partners.
“With the right mix of knowledge, capital, market access and workforce support, SMEs can build resilient businesses that create jobs and boost national prosperity”, he said.
