The GROW Nigerian Initiative by SMEDAN: Driving Growth and Employment Opportunities in Nigeria
The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has unveiled its innovative plan to boost employment opportunities within the Micro, Small, and Medium Enterprises (MSME) sector through the “GROW Nigerian” initiative.
During a recent meeting in Abuja, Charles Odii, the Director-General of SMEDAN, outlined the GROW strategy, which stands for Guidance, Resources, Opportunities, and Workforce Support. This comprehensive approach aims to assist SMEs in overcoming common challenges and fostering growth across various sectors of the Nigerian economy.
Odii highlighted that the initiative will offer small businesses expert guidance, mentorship, and strategic advice to address obstacles and unlock their growth potential. Additionally, SMEDAN plans to provide essential resources such as funding, technology, and infrastructure to enhance operational efficiency and sustainability for these enterprises.
The GROW strategy also aims to create platforms and market access opportunities for small businesses, enabling them to showcase their offerings and expand their reach. SMEDAN will offer training programs and skill development resources to empower entrepreneurs and their teams, fostering innovation and enhancing productivity within the MSME sector.
Charles Odii emphasized, “GROW Nigerian is SMEDAN’s strategic blueprint to accelerate economic growth by providing vital resources to micro, small, and medium enterprises in key sectors of the Nigerian economy. By offering Guidance, Resources, Opportunities, and Workforce Support (GROW), SMEs can overcome obstacles and achieve sustainable growth.”
The Director-General highlighted SMEDAN’s success in repositioning the MSME sector, citing the creation of over 90,000 jobs in the first three months of the year through various initiatives. Moving forward, SMEDAN will focus on eight critical sectors of the Nigerian economy, including agriculture, fashion, tourism, manufacturing, education, digital economy, innovation, and technology adoption.
Odii expressed confidence that through the GROW Nigerian strategy, SMEDAN can address challenges faced by MSMEs in Nigeria, such as limited access to funding, high operating costs, regulatory burdens, skills shortages, inadequate infrastructure, and limited market access. By collaborating with partners and stakeholders, SMEDAN aims to empower entrepreneurs with the necessary resources for accelerated growth and job creation.
“With the right combination of knowledge, capital, team support, market access, and ecosystem support, entrepreneurs can build sustainable businesses that contribute to economic development and improve our quality of life,” Odii concluded.
