SMEDAN introduces a conditional grant program to strengthen enterprises
SMEDAN introduces a conditional grant program to strengthen enterprises
SMEDAN: To enable small firms to hire workers, the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has introduced a conditional grant program. This was announced by SMEDAN in a statement on Wednesday during the opening of its Abuja headquarters.
According to the agency, the program is an attempt to support SMEs by giving funds to those who agree to hire at least one person.
According to SMEDAN, the plan will address issues with unemployment and enhance access to financing.
The conditional grant program, according to Minister of Industry, trade, and Investment Doris Uzoka-Anite, is a calculated intervention meant to give financial support to worthy nano- and micro-enterprises, guaranteeing that they have the resources needed to grow and make a significant contribution to the economic prosperity of the country.
Additionally, Uzoka-Anite praised SMEDAN for playing a key role in promoting industrial development, job creation, and economic empowerment throughout the country.
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SMEDAN provided feedback on the headquarters, stating that it has state-of-the-art work hubs, common facilities centers, industrial sewing machines, and woodworking machinery.
Vice President Kashim Shettima, who spearheaded the ceremony, praised SMEDAN for playing a crucial role in promoting economic growth by empowering MSME.
Shettima emphasized the government of President Bola Tinubu’s dedication to fostering an environment that is conducive to the success of small enterprises, as well as the significance of technology improvements in augmenting productivity and competitiveness.
Shettima stated, “SMEs’ empowerment, SMEDAN’s main goal, is an essential component in the mission to enhance the prosperity of our people.”
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“These businesses not only serve as the cornerstone of our society, but they also show the direction and speed at which the government is moving.” The director-general of SMEDAN, Charles Odii, stated that the organization aims to give small company owners cheap access to these resources.
According to Odii, “they can improve production quality thanks to this initiative, which promotes growth and sustainability within the MSME sector.” Our goal is to assist the nation’s MSMEs in expanding by providing timely and sufficient access to the resources they require, such as capital, markets, and capacity building.
“With work hubs and facility centers, this building not only helps us reach our goal by increasing staff productivity, but it also has a significant local impact, ensuring that entrepreneurs in the city can produce high-quality products while having access to power, tools, and branding training.”
The head of the Senate Committee on Industries, Adenigba Fadahunsi, the Minister of State for Youth, Ayodele Olawande, and the head of the House Committee on SMEs, Mansur Soro, are among the other dignitaries present.
SMEDAN, grant, Small and Medium Enterprises Development Agency of Nigeria,
