We’ll Remove All Obstacles Hindering MSMEs Growth – SMEDAN

Director-General of the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Charles Odii, says the agency is determined to remove all obstacles that are militating against the growth of Micro, Small and Medium Enterprises (MSMEs) in Nigeria.

He stated this following a meeting with the President Bola Ahmed Tinubu at the presidential villa in Abuja, where he discussed the agency’s ‘GROW Nigerian’ strategy designed to offer SMEs essential guidance, resources, opportunities, and workforce support to thrive, a statement by the agency on Friday said.

“SMEs are central to the president’s mission to eradicate poverty and ensure prosperity reaches all corners of Nigeria. His commitment was evident as we discussed SMEDAN’s GROW Nigerian strategy, which includes plans to create an enabling environment for over 40 million small businesses, collectively providing over 60 million jobs. We are not only going to protect them from inflationary pressures but also empower them to drive down such trends.” Odii said

Speaking further, he added, “We will work with sister government agencies to streamline regulations and optimize them for growth and productivity. We will remove obstacles that hinder formalization and growth.”

“With the strategy, SMEs will get affordable financing opportunities, access to lucrative domestic and international markets, tailored mentorship, and support to compete through capacity building for improved production standards.” the SMEDAN DG further explained.

SMEDAN directs N5bn loan applicants to submit CAC certificate

The Small and Medium Enterprises Development Agency of Nigeria has reviewed the selection process of beneficiaries for a N5bn credit facility allotted meant for small businesses in the country.

With the new procedure, the agency has mandated the submission of Corporate Affairs Commission certificate and Tax Identification Number as a compulsory requirement to obtain the loan.

The Head of Corporate Affairs, Moshood Lawal, made the disclosure during an exclusive interview with our correspondent on Wednesday in Abuja.

The PUNCH reports that last year, SMEDAN signed an agreement with Sterling Bank to disburse loan options ranging from N250,000 to N2,500,000 at a single-digit interest rate of nine per cent, facilitating the growth of small businesses through enhanced financial access. The credit with the target to assist over 10,000 Small and Medium Enterprises has a duration period of 12 months, enabling small businesses to leverage the facility fully.

Speaking at the signing ceremony, the SMEDAN DG, Charles Odii, described it as “an important milestone in our efforts to stimulate economic growth and drive prosperity by enhancing SME access to finance. We believe that the financial support, which comes at a very competitive rate, will help SMEs expand operations, hire additional employees, and contribute to an overall upswing in beneficial trade and economic activities.”

But giving an update on the issue four months after, the spokesperson said a software application had been developed to smoothen the process and limit human interference on the credibility of the process.

He added that submission of CAC certificate and tax identification number was needed to identify fake applicants and ensure the funds is given to the right persons.

Happy Birthday!
The most respected, wonderful and amazing Head, Corporate Affairs, SMEDAN.
May Allah bless your days..
From all of us, we wish you a Blissful Birthday

DG-SMEDAN conducts a tour of the IDCs in Southwest

The Director General of SMEDAN, Mr Charles Odii carried out on the spot assessment of the Industrial Development Centres in Oshogbo, Akure and Ikorodu within the week. In a bid to rapidly transform the state of disrepair that the IDCs have witnessed over the years, the administration of Mr Odii is putting into place a system to revamp the economic viability of the Centres.

To this end, he personally went for an inspection visit of the IDCs with a view to draw out implementation framework that will make the centres accessible and available for MSMEs within the environment, possibly on a public private partnership. This he believes will turn around the economic fortunes of the communities where these IDCs are situated; there will be provision of infrastructure and equipments that could cascade into creation of more jobs. The DG was accompanied on the tour by Engr Tony Igba (Director Engineering, Technology and Innovation). and Dr. Gbenga Ogundeji (Director, Planning, Policy, Research, Monitoring and Evaluation).

Moshood Lawal
Corporate Affairs
SMEDAN

Katsina Government, SMEDAN Sign MoU for SMEs' Development, Industrial Development Center (IDC) Partnership

The Katsina State Government through its Enterprise Development Agency ( KASEDA) has signed two Memorandums of Understanding, MoUs, with the Small and Medium Enterprises Development Agency, SMEDAN, to the tune of N250 million on boosting the capacity and growth of small businesses in Katsina State.

The second MoU was for KASEDA to Partner with of the federal government-owned Industrial Development Centre, IDC in Katsina to develop and boost the SME sector in the state for a period of three years.

The event took place on Thursday at the Corporate Headquarters of SMEDAN in Abuja, with Governor Dikko Umaru Radda, the Director General of SMEDAN, Mr. Charles Odii, and the Director General of KASEDA Hajiya Aisha Aminu presiding over the auspicious MoU affair.

The Minister of State for Youth, Mr. Ayodele Olawande, and Dr. Wale Fasanya, the immediate-past DG of SMEDAN; together with some top Katsina State Government functionaries also graced the event.

While speaking, Governor Radda noted that Medium and Small Scale Enterprises, MSMEs, worldwide, okay a critical role in changing the fortunes of many nations.

"Any leader who aspires to transform Nigeria, must not ignore the MSME sector, which contributes about 50 percent to the country's nominal GDP, while also providing jobs to about 70 percent of citizens," he said.

He however, expressed displeasure with the fact that SMEDAN, in recent years, has not succeeded in increasing the number of SMEs it is boosting their capacities. "SMEDAN should no longer be talking about empowering just hundreds of thousands of SMES at this time. We should be talking about millions," he said.

Governor Radda advised the SMEDAN management to work towards expanding the scope and numbers of Nigerian small businesses who receive their institutional support, particularly monetary funding.

As part of tackling poverty, hunger and youth restiveness in Katsina, he said his administration has approved the sum of N3.4bn to enhance the development of SMEs in the state. Radda also disclosed that two other IDC will soon be established at Daura and Funtua zones to make it three, besides the current one which KASEDA will take our its ownership.

"As part of our commitment to grow Katsina's economy, the state government will collaborate with the 34 local governments we have to fund our SMEs with about N3.4 billion.

"Each local government is expected to provide 100 million counterpart funds. We shall thereafter identify 10 to 20 enterprises in each local government, that will get our funding support," he said.

Governor Radda further revealed that his administration will soon embark on building wood and furniture clusters, among other vocational trades development hubs, similar to the ones managed by SMEDAN at its corporate headquarters.

"Our Katsina State Enterprise Development Agency, KASEDA, is currently in the process of selecting small businesses with potential for growth and employing people, in Katsina, to get our support. We plan to give them credits with zero interest rate.

"Equally, in order to boost the capacity of our KASEDA, we shall soon dispatch some of their staff to SMEDAN for them to learn how you are driving Nigeria's SMEs sector. But again, some SMEDAN staff will also be invited to Katsina and mentor the staff of KASEDA," he said.

Responding, The DG SMEDAN Mr Charles Odii, expressed delight with the move by the Katsina State Government to partner SMEDAN in advancing the frontiers of Katsina SME sector. "This MoU we just signed will help to curb social unrest in Katsina, while making sure SMEs in the state have easy access to finance and business market," he said.

Signed:
Ibrahim Kaula Mohammed,
CPS to Katsina Governor.

25th January , 2024.

15,000 Jobs, N7bn Direct Funding For Businesses Created – SMEDAN

The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has said the agency created 15,000 jobs and facilitated N7 billion funding for SMEs in the first 100 days of its Director General, Charles Odii, in office.
Odii was appointed in 2023 as the head of the agency by President Bola Ahmed Tinubu based on his extensive contributions to the MSME sector, including the design and execution of projects that highlight and facilitate support for small businesses in Nigeria and across the continent.
A statement on Monday said on assumption of office on October 13, 2023, he introduced a seven-point prosperity agenda focusing on providing SMEs with access to finance, markets, capacity building, partnerships, a business-friendly environment, and streamlined processes for sustainable growth.
The statement read in part, “Achieving key milestones in just three months, he implemented reforms at SMEDAN, incorporating digital and data-driven approaches to address challenges hindering SME growth and foster prosperity.

****SMEDAN boss seeks partnership with CAC on ease of registration ****

The Director General CEO of the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Mr Charles Odii has reached out to the Registrar-General of Corporate Affairs Commission (CAC), Hussaini Ishaq Magaji, SAN on the need to collaborate in accelerating the formalisation processes for Nigerian MSMEs.

At a meeting in the Corporate Headquarters of CAC, the SMEDAN boss hinted on a forthcoming intervention that is targeting the creation of 10,000 jobs and the need to have a multi stakeholder partnership that connects SME financing with formalisation and data gathering. The Registrar-General expressed the willingness of CAC to work with SMEDAN and other agencies towards the actualisation of the vision of President Bola Ahmed Tinubu.

Moshood Lawal
Head, Corporate Affairs
SMEDAN
@lashoody

#smedan
#Empowerment
#youth empowerment
#youthengagement
#thankyousmedan2023

The new Director General/CEO of the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) resumes office. He was taken around by the former DG/CEO Dr Olawale Fasanya and the two promised to work together in the continuous development of the NMSMEs.

Congratulations sir.

SMEDAN empowers women farmers cooperative societies in Oyo

He noted that it would contribute positively to the nation’s economy and improve the standard of living for citizens.
“I wish to add that the Oyo State Government, under the leadership of Governor Seyi Makinde, will continue to provide an enabling environment for private enterprises to thrive in the state,” he said.
In his lecture, Dr James Marsh, a food safety consultant from HAACP Academy Nigeria (HAN), charged the participants to be mindful of food hygiene, food fraud, food terrorism, bioterrorism and food sabotage in their operations.
He urged the participants to always imbibe and practice food safety so that they could favourably compete with producers in the international community.
“Majority of ailments that people have is as a result of what they eat.
“Life expectancy rate in Nigeria is not an encouraging figure, we need to focus more on preventive medicine through food safety.
“Government also need to do more on food sensitisation,” he said.
One of the beneficiaries from Agricultural Exporting Farmers’ Multipurpose Cooperative Society, Dr Oluwatomisin Olatunji, said that the training had exposed the participants to food safety system that would ensure that Nigeria products are accepted both locally and internationally.
Another beneficiary from Olorunsogo Oba-Agbe Mechanised Farmers’ Multipurpose Cooperative Society, Mrs Damilola Bukola, urged government to ensure strict compliance with food industry regulations.
She said this would help to improve standard of food coming out of Nigeria to international community.
NAN reports that the two selected cooperatives were empowered with dehydrator for drying food products, slicing machine, power miller for milling dried products and automatic sealing machine for sealing finished products. (NAN)

SMEDAN cautions against scammers

The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has cautioned the public not to patronize a fake site which claimed the agency has a loan package of between N10,000 and N100 million for enterprises in Nigeria.

SMEDAN’s Head of Corporate Affairs, Alhaji Moshood Lawal issued the advisory in a statement on Friday in Abuja.

According to Lawal, the fake site on social media platforms claims that the Central Bank of Nigeria (CBN) and SMEDAN have a loan package of between N10,000 and N100 million for enterprises in the country.
“SMEDAN wishes to state unequivocally that the site is fake and there was never any such loans in any of it’s programs and activities.”

Lawal added that SMEDAN had not signed any agreement or entered into any collaboration with the CBN for any loan of that nature.

“The general public should therefore disregard the information in its entirety in order to avoid the trap of scammers and their antics,’’ he said.

Lawal advised the public to always verify information regarding the activities and programs of SMEDAN through its official website, or states and zonal offices across the country.

He said that verifiable information could also be obtained from SMEDAN Corporate Headquarters at Idu Industrial Layout, Abuja.

Lawal warned scammers to desist from their nefarious act, adding that that efforts were on to track and hand them over to relevant security agencies.