The Federal Government has announced plans to list at least 1,000 Small and Medium Enterprises (SMEs) on the Nigerian capital market to expand access to long-term financing and drive economic growth.
The move follows the signing of a Memorandum of Understanding (MoU) between the Securities and Exchange Commission (SEC) and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) in Abuja.
The partnership aims to open new funding opportunities for Nigeria's over 40 million registered MSMEs by integrating them into the capital market. It is also part of the Federal Government's strategy to build a trillion-dollar economy through inclusive financing and private sector growth.
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Under the MoU, both agencies will organize capacity-building programmes to improve SMEs' financial literacy, corporate governance, and understanding of capital market operations. SEC will contribute to SMEDAN's five-year policy framework to promote SME-friendly market policies, while SMEDAN will identify qualified businesses for listing.
The initiative is expected to help small businesses raise funds through equity or debt securities, create jobs, and accelerate industrial expansion. A joint national SME conference will also be convened to engage stakeholders and promote new financing opportunities for SMEs across the country.
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