The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has signed a strategic agreement aimed at accelerating the growth and expansion of Micro, Small, and Medium Enterprises (MSMEs) across Nigeria and the African continent.
The partnership will offer MSMEs access to business-friendly loans, market linkages, and essential capacity-building resources. Highlighting the importance of this initiative, stakeholders emphasized that the move represents a significant step toward empowering Nigerian entrepreneurs with the tools they need to thrive in a competitive and evolving business environment.
Speaking during the Memorandum of Understanding (MoU) signing ceremony, stakeholders underscored the pivotal role MSMEs play in national development, employment generation, and economic diversification. The new agreement will support enterprises with financial literacy training, market access initiatives, and rewards for high-performing businesses.
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Charles Odii, Director General of SMEDAN, stated that the collaboration is focused on nurturing local businesses and positioning micro enterprises to evolve into multinational players. He also expressed confidence that the partnership will fuel entrepreneurship, create jobs, and strengthen Nigeria's position in the broader African market.
The initiative is expected to create scalable, sustainable growth opportunities for MSMEs, reinforcing SMEDAN's commitment to reviving and expanding the entrepreneurial ecosystem.
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