At a special session of the ongoing African Union (AU) MSME Forum, the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has outlined its plans to renew Nigeria's National MSME Policy through an inclusive, forward-thinking process.In… Read on blog or Reader SMALL BUSINESS INSIGHTS Read on blog or Reader SMEDAN to renew MSME policy with inclusive reforms By Busola Bamidele on June 30, 2025 At a special session of the ongoing African Union (AU) MSME Forum, the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has outlined its plans to renew Nigeria's National MSME Policy through an inclusive, forward-thinking process. In a statement shared via the agency's official X (formerly Twitter) page, the Director General of SMEDAN highlighted key achievements under the current policy, which is set for renewal later this year. These include mobilizing funding for affordable financing, delivering critical reliefs, expanding inclusion for women and youth, and establishing the National Council on MSMEs to enhance inter-agency coordination. Read also: SMEDAN to renew MSME policy with inclusive reforms FG's mechanisation drive sparks mixed reactions over impact, scale Bank pledges N2.5m grants to SMEs at Lagos Leather Fair 2025 BVN verification begins for YEIDEP N50,000–N500,000 youth grant disbursement Elon Musk's Starlink resumes new customer activations in Nigeria "We have made real progress, and now we're focused on updating the policy through a co-creation process that includes key stakeholders from both government and the private sector," the SMEDAN DG said during the session. The renewed policy will reflect major economic and structural shifts, including the African Continental Free Trade Area (AfCFTA), post-COVID digital acceleration, evolving global supply chains, and ongoing national economic reforms. He further disclosed that work on the renewal process has already commenced, in collaboration with both local stakeholders and international development partners. This policy update marks a significant step in strengthening Nigeria's MSME ecosystem, with SMEDAN at the forefront of driving inclusive growth and sustainable development for small businesses across the country.

SMALL BUSINESS INSIGHTS © 2025. Unsubscribe or manage your email subscriptions. Get the Jetpack app Subscribe, bookmark, and get real‑time notifications - all from one app! Automattic, Inc. 60 29th St. #343, San Francisco, CA 94110

The Federal Government's launch of a mechanisation initiative with 2,000 tractors and 9,072 farm implements has generated mixed reactions from stakeholders in the agriculture sector.National President of the All Farmers Association of Nigeria (AFAN), … Read on blog or Reader SMALL BUSINESS INSIGHTS Read on blog or Reader FG's mechanisation drive sparks mixed reactions over impact, scale By Busola Bamidele on June 30, 2025 The Federal Government's launch of a mechanisation initiative with 2,000 tractors and 9,072 farm implements has generated mixed reactions from stakeholders in the agriculture sector. National President of the All Farmers Association of Nigeria (AFAN), Kabir Ibrahim, expressed optimism that the programme would steadily gain momentum. He acknowledged the high cost of tractors and urged smallholder farmers to form clusters to access tractor hiring services. He added that the imported Belarusian tractors should be tested for local adaptability. However, critics argue the initiative is underwhelming. Economist Bishop Herbert Ekechukwu described the numbers as inadequate, noting that it translates to just two tractors per local government area insufficient for any meaningful agricultural transformation. He warned that past programmes with similar blueprints failed due to poor implementation and corruption. Read also: FG's mechanisation drive sparks mixed reactions over impact, scale Bank pledges N2.5m grants to SMEs at Lagos Leather Fair 2025 BVN verification begins for YEIDEP N50,000–N500,000 youth grant disbursement Elon Musk's Starlink resumes new customer activations in Nigeria Lagos reopens Oko-Oba Abattoir Dr. Olukayode Oyeleye, an agribusiness analyst, cautioned that without proper oversight, the tractors could end up in the hands of politicians. He urged the government to reduce bureaucracy and make mechanisation youth-friendly. Farmer Ibe Onuoha stressed the need for transparency and training, while Dr. Victor Mathew called for a more integrated strategy, especially in tackling insecurity. While seen as a positive step, experts agree the scale must match the urgency of Nigeria's food crisis.

SMALL BUSINESS INSIGHTS © 2025. Unsubscribe or manage your email subscriptions. Get the Jetpack app Subscribe, bookmark, and get real‑time notifications - all from one app! Automattic, Inc. 60 29th St. #343, San Francisco, CA 94110

Wema Bank, the official gold sponsor of the 8th edition of the Lagos Leather Fair (LLF) 2025, has announced a N2.5 million grant for the top three standout Small and Medium Enterprises (SMEs) participating in the event.The fair, which took place on June… Read on blog or Reader SMALL BUSINESS INSIGHTS Read on blog or Reader Bank pledges N2.5m grants to SMEs at Lagos Leather Fair 2025 By Busola Bamidele on June 30, 2025 Wema Bank, the official gold sponsor of the 8th edition of the Lagos Leather Fair (LLF) 2025, has announced a N2.5 million grant for the top three standout Small and Medium Enterprises (SMEs) participating in the event. The fair, which took place on June 28–29 at the Balmoral Federal Palace Hotel, Lagos, is Africa's premier platform for showcasing the leather industry. It brings together manufacturers, designers, suppliers, and stakeholders to celebrate African craftsmanship. This marks the second year of Wema Bank's sponsorship, underscoring its commitment to SME growth. According to the bank's Managing Director/CEO, Moruf Oseni, "Funding is crucial, but access to market is equally vital." Read also: Bank pledges N2.5m grants to SMEs at Lagos Leather Fair 2025 BVN verification begins for YEIDEP N50,000–N500,000 youth grant disbursement Elon Musk's Starlink resumes new customer activations in Nigeria Lagos reopens Oko-Oba Abattoir Over 100,000 Nigerians benefit from consumer credit scheme as reforms deepen Through its exclusive offering, Prestige by Wema, the bank aims to connect SMEs with high-net-worth individuals to foster visibility and potential cross-border opportunities. Wema Bank also offered spa packages, investment opportunities, cash rewards, and advisory services to attendees and vendors. Executive Director Tunde Mabawonku highlighted the bank's broader SME support strategy, citing over N300 billion disbursed in loans and grants and over 800,000 SMEs empowered nationwide. The initiative reinforces Wema Bank's role in supporting businesses "all the way," beyond just financial backing.

SMALL BUSINESS INSIGHTS © 2025. Unsubscribe or manage your email subscriptions. Get the Jetpack app Subscribe, bookmark, and get real‑time notifications - all from one app! Automattic, Inc. 60 29th St. #343, San Francisco, CA 94110