Some of the key achievements include:

Job Creation and Funding Initiatives:

  • 5 Billion Naira Single-Digit Interest Loan with Sterling Bank: Under Mr. Charles Odii’s leadership, SMEDAN secured a groundbreaking agreement with Sterling Bank, unlocking a 5 billion Naira fund at single-digit interest rates to empower businesses. Over 200,000 applications have been received, and due diligence is underway for disbursement.
  • Matching Fund Agreement with Anambra and Enugu State Governments: Collaborating with Anambra and Enugu state governments, SMEDAN injected 1 billion naira into MSMEs in each state under a matching fund agreement.
  • Flagoff of the Conditional Grant Scheme (CGS): Economic activities at the grassroots level were revitalised with a cash injection of N50,000 into nano businesses, creating jobs with the condition that they hire one more person.

Innovative Programs and Facilities:

  • Launch of the Green Energy and Climate Change Desk: To address environmental challenges impacting businesses, SMEDAN introduced the Climate Change Desk, supporting displaced businesses and promoting the adoption of green energy solutions.
  • Commissioning of Head Office Equipped with Modern Work Hubs: A state-of-the-art office complex was commissioned, housing dedicated staff and featuring facilities such as a textile and garment hub for fashion businesses and a woodwork and furniture facility for aspiring artisans.
  • Launch of the SMEDAN Undergraduate Internship Program (SUIP): In commitment to early entrepreneurship readiness, a student internship program was launched to provide students with real-world business experience and resources to start, continue, and scale. Baze University served as the pilot ground, with more universities set to partner with the agency to execute the program.
  • Launch of the Women and Youth Desk: Recognising the pivotal role of women in SMEs, a dedicated desk was launched to provide direct access to opportunities designed for women entrepreneurs.

Policy and Collaboration Initiatives:

  • National Council on SMEs: Launched and Chaired by Vice President Senator Kashim Shettima, SMEDAN serves as the secretariat of the Council, uniquely positioning the agency to drive policy changes and facilitate inter-governmental collaboration for strategic SME investments.

Support Services for SMEs:

  • MSME CLINIC: A weekly initiative connecting SMEs with resources and knowledge needed for growth. Entrepreneurs, regulators, and experienced SME development professionals collaborate to provide mentorship and solutions, creating a one-stop shop for SMEs.

Culture and Digital Transformation:

  • Internal Culture Reform and Digital Transformation: Accompanied  cultural reset within the agency aimed at fostering creativity and teamwork, by a digital transformation empowering staff with tools and training for greater productivity and progress tracking. The agency has launched various social clubs to promote a healthy lifestyle, enhance productivity and focus, and instil a sense of shared mission.

    Continuing its data-driven approach for impact, the agency is set to commence a nationwide small business census to create a credible and comprehensive database of SMEs in the country and enhance the quality of its interventions.mission.