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.
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"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.
