The Small and Medium Enterprises Development Agency of Nigeria, SMEDAN, has announced it secured over N11 billion in financing and facilitated the creation of more than 100,000 jobs nationwide within the last two years.
This progress comes as part of President Bola Tinubu’s Renewed Hope Agenda, focused on economic revitalization through entrepreneurship and SME development.
Charles Odii, the Director-General of SMEDAN, disclosed this in an interview, stating that the agency’s efforts align with national goals for inclusive growth and sustainable job creation.
“In just two years under President Tinubu, we have made real, measurable progress. We’ve mobilized N11 billion in funding for small businesses and created over 100,000 new jobs,” Odii said.
SMEDAN’s funding initiatives are complemented by training, equipment support, and business formalization drives, many of which are achieved through partnerships with the National Assembly and development organizations.
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Odii said that thousands of entrepreneurs across different sectors have received tools and machinery to boost productivity. Furthermore, SMEDAN has reactivated multiple Industrial Development Centres in Abuja, Osun, and Katsina, offering access to modern equipment, steady power supply, and business support services.
The agency has also collaborated with international organizations such as the United Nations Development Programme, Germany’s GIZ, and Google to build entrepreneurs’ digital and technical skills. These partnerships are expanding access to global markets and enhancing competitiveness.
To streamline business operations for SMEs, SMEDAN works closely with key regulatory bodies including the Corporate Affairs Commission, NAFDAC, Standards Organisation of Nigeria, and the Federal Inland Revenue Service. This has helped thousands of small businesses formalize, meet regulatory standards, and scale up.
Youth entrepreneurship is a key priority. Through collaboration with the National Youth Service Corps, SMEDAN is supporting young Nigerians to turn business ideas into viable enterprises.
Highlighting one flagship project, Odii pointed to the SMEDAN Garment and Textile Hub in Abuja’s Idu Industrial Development Centre. Powered by solar energy and backed by the UNDP, the hub provides fashion entrepreneurs with access to industrial sewing machines and consistent electricity, improving productivity and employment in the sector.
Odii reaffirmed SMEDAN’s commitment to its “GROW Nigerian” strategy—focused on Guidance, Resources, Opportunities, and Workforce development—to unlock value across communities.
“We’re building stronger businesses, creating more jobs, and driving inclusive growth across Nigeria. This is what the Renewed Hope Agenda looks like in action,” he added.
SMEDAN remains committed to deepening SME development as a foundation for national economic transformation and long-term prosperity.
NAN
