Asaba, September 5, 2024 – The Director General of the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Mr. Charles Odii, has called on the Delta State Government to partner with the agency in enhancing the capacity of small and medium enterprises (SMEs) in the state. Mr. Odii made the appeal during a training workshop held in Asaba aimed at empowering local business owners.
During the event, Mr. Odii emphasized the agency’s commitment to providing long-term solutions for young entrepreneurs by boosting their capacity and offering short-term financial grants. He stated that the focus is on equipping young people with the skills and resources to secure funding independently and grow their businesses.
“We aim to increase the capacity of young entrepreneurs so that they can eventually attract funding to expand their businesses on their own,” Mr. Odii explained.
He also urged government officials to avoid politicizing poverty, noting that it affects all segments of society, regardless of political affiliation. He called on stakeholders to collaborate with SMEDAN to help develop the capacity of small and medium businesses, stressing the far-reaching impact of supporting SMEs.
“When small businesses grow, their families benefit. Supporting a business owner means you’re supporting at least 10 people. This is the message we’re spreading here in Asaba,” he said.
Mr. Odii revealed that the federal government has allocated ₦50 billion to support one million nano businesses across the country, with each business set to receive ₦50,000. Nano businesses, he explained, are those with at least three employees and an annual turnover of less than ₦3 million. He highlighted SMEDAN’s efforts to provide alternative income sources for these businesses by connecting them with banks and strengthening their capacity.
“These businesses cannot access significant funding without first building their capacity,” he noted, encouraging business owners to apply for the grants through the agency’s website, www.smedan.org.ng. “Once people apply, we shortlist them, reach out to them, and pay the beneficiaries directly into their bank accounts. So far, we have covered 14 out of 36 states and hope to reach all states by the end of the year.”
The SMEDAN Coordinator in Delta State, Adeleke Babalola, added that beneficiaries from various local governments are brought together in centralized locations for easier access to training and support. He further explained that officials from Abuja are responsible for shortlisting and approving beneficiaries, as well as conducting necessary assessments to qualify them for the grants.
According to Mr. Babalola, 50 beneficiaries per local government area have been targeted, with some already receiving the grants. For those yet to receive funds, he attributed delays to discrepancies in BVN details but assured that the issues are being addressed by the head office in collaboration with the banks.
