How SMEDAN Is Powering the Growth of SME’s– What Every Business Owner Should Know

BY Segun Bakare
2 months ago

The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) continues to play a pivotal role in boosting Nigeria’s economy, particularly under the leadership of Director General Charles Odii. With small and medium enterprises (SMEs) contributing 46.31% to Nigeria’s GDP and accounting for over 6% of the country’s exports, SMEDAN’s efforts in promoting the growth and sustainability of these businesses are crucial.

At a recent seminar hosted by the Correspondents’ Chapel of the Nigeria Union of Journalists (NUJ) in Kwara State, SMEDAN’s administrative officer, Mrs. Adava Ometre, encouraged SMEs to place a high priority on strategic planning. She emphasized that, despite Nigeria’s current economic challenges, businesses that plan effectively and show resilience are more likely to thrive. Mrs. Ometre assured SMEs that with the right mix of determination and innovation, they could overcome these difficult times and continue to flourish.

In her address, Mrs. Ometre highlighted the federal government’s ongoing interventions aimed at supporting SMEs, urging business owners to take advantage of these opportunities. She particularly stressed the importance of proper product packaging and branding, as these factors significantly impact a business’s competitiveness and appeal in the marketplace.

Beyond guiding business owners, SMEDAN has also been proactive in encouraging professionals from other sectors, including journalists, to explore entrepreneurial opportunities within their fields. Mrs. Ometre suggested that journalists can leverage their skills by offering media training, writing services, social media strategies, and other paid services, thereby creating additional revenue streams.

Since taking office as SMEDAN’s Director General, Charles Odii has spearheaded several impactful initiatives aimed at promoting SME growth across Nigeria. His leadership has seen a boost in federal and international collaborations, leading to increased support for entrepreneurs. Under his administration, SMEDAN has launched the National Business Skills Development Initiative (NBSDI), which provides training and tools to aspiring entrepreneurs in different states across the country.

Additionally, SMEDAN has been a key partner in the One Local Government, One Product (OLOP) initiative, which focuses on the development of locally made goods and services, fostering economic growth at the grassroots level. This initiative has not only created jobs but has also empowered communities to produce quality goods that meet both local and international market standards.

Through these and other programs, SMEDAN, under the leadership of Charles Odii, has remained dedicated to creating a conducive environment for SMEs to thrive, with the ultimate goal of achieving long-term economic stability for Nigeria.