The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), in partnership with the United Nations Development Programme (UNDP), has inaugurated a solar-powered Fashion Hub and Makerspace at the SMEDAN Common Facility Centre, Idu, Abuja.
Speaking at the launch, Charles Odii, Director General of SMEDAN, highlighted that the initiative is aimed at tackling persistent power outages that hinder the efficiency of entrepreneurs and small businesses across Nigeria.
According to SMEDAN, unreliable electricity supply has been a major challenge for small and medium enterprises (SMEs), leading to production disruptions, high costs of alternative power sources like generators, and customer dissatisfaction, ultimately slowing business growth.
Empowering Small Businesses with Sustainable Energy
The newly established solarised hub and makerspace is expected to significantly reduce production costs for small businesses by providing a free, fully-equipped workspace with 24-hour electricity.
"Small businesses can now operate here at no cost. They don't have to worry about power or purchasing expensive machines. Once they produce their goods, they can store them in the warehouse next door and distribute them across the 36 states and the FCT at lower costs. This means more revenue, higher productivity, and business expansion," Odii stated.
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UNDP's Commitment to SME Growth in Nigeria
Ms. Elsie Attafuah, UNDP Resident Representative in Nigeria, reaffirmed the organization's commitment to fostering economic growth for Nigerian SMEs. She emphasized that with over 40 million micro, small, and medium enterprises (MSMEs) in Nigeria, supporting their growth is crucial for job creation and economic stability.
Ms. Attafuah also introduced the Timbuktu Initiative, a UNDP-backed program set to establish the University Port by May, in collaboration with Nigerian public universities. This initiative aims to support at least 10,000 startups by promoting innovation and entrepreneurship.
Calls for Diaspora Support and Youth Development
At the event, Senator Natasha Akpoti-Uduaghan, Chairperson of the Senate Committee on Diaspora Affairs and NGOs, advocated for harnessing diaspora resources to boost local entrepreneurship. She proposed leveraging diaspora funding, expertise, and technology to enhance productivity and increase Nigeria's export potential. She also stressed the need to address the "Japa" syndrome, where skilled Nigerians migrate abroad in search of better opportunities.
Additionally, Olawande Ayodele, Minister of State for Youth Development, announced the federal government's plan to launch the Nigeria Youth Academy, a skill development program in local languages. This initiative aims to equip Nigerian youth with valuable skills, fostering economic growth and reducing unemployment.
With this initiative, SMEDAN and UNDP reaffirm their commitment to empowering Nigerian entrepreneurs, boosting local manufacturing, and fostering a resilient SME sector through sustainable energy solutions and strategic partnerships.
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