Ola Akinwunmi
The Small and Medium Enterprises Development Agency (SMEDAN) has unveiled sweeping progress under its “GROW Nigerian” initiative, reporting the creation of 90,160 jobs for unemployed youths and support for over 116,000 entrepreneurs nationwide in the first quarter of 2025. The agency’s Director-General, Charles Odii, announced the milestone during a Tuesday engagement with the Commerce and Industry Correspondents Association of Nigeria (CICAN), emphasizing a strategic push to amplify productivity and economic resilience in the Micro, Small, and Medium Enterprises (MSME) sector.
Speaking in Abuja, Odii attributed the success to SMEDAN’s GROW strategy—a four-pillar framework encompassing Guidance, Resources, Opportunities, and Workforce Support. “GROW Nigerian is our blueprint to accelerate economic growth by equipping SMEs with the tools to overcome obstacles and thrive,” he stated. The approach, he explained, targets systemic challenges such as limited access to finance, high operational costs, regulatory bottlenecks, and technological gaps stifling small businesses.
Odii highlighted that over 116,000 beneficiaries received training, financing, and equipment in Q1 alone, with job creation concentrated in agriculture, manufacturing, and Nigeria’s burgeoning digital economy. “These numbers reflect our commitment to transforming MSMEs into engines of employment and value creation,” he said.
Moving forward, SMEDAN will prioritize eight sectors under GROW: agriculture value chains, fashion and textiles, tourism, manufacturing, education, digital innovation, and tech adoption. Odii stressed that synergies with partners will address gaps like rural infrastructure deficits, multiple taxation, and access to cutting-edge technology.
While celebrating progress, Odii acknowledged persistent hurdles for SMEs, including bureaucratic delays and capital shortages. “By pooling expertise with stakeholders, we can dismantle these barriers,” he asserted, citing ongoing negotiations to streamline business registration and expand funding channels.
The DG expressed confidence that sustained execution of the GROW strategy would catalyze sustainable businesses capable of “creating jobs, improving quality of life, and delivering value for all Nigerians.”
As SMEDAN doubles down on its mission, stakeholders await tangible outcomes in a sector critical to Nigeria’s economic revival—one small business at a time.