The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), led by Director General Charles Odii, has launched the iSME Digital Academy aimed at training and empowering Nigerian Micro, Small, and Medium Enterprises (MSMEs) with essential business development skills. This initiative, announced during the MSME National Conference in Abuja, offers fresh courses on business enterprise development and exposes entrepreneurs to funding opportunities to upgrade their businesses.
According to Odii, the academy will not only provide new business skills but will also teach MSMEs how to kick-start businesses with zero capital, efficiently reach their target markets, and access financial inflows. The program is designed to help small businesses transform and market their products globally, with courses covering topics like business plan development, market targeting, recruitment, and access to funding.
Additionally, Odii revealed that SMEDAN has begun disbursement of the N200 billion Presidential Intervention Fund for Nigeria’s enterprise ecosystem. From this fund, Nano businesses are set to receive N50 billion in grants, another N50 billion will go to MSMEs, and N100 billion will be distributed as soft loans at zero interest rates.
He emphasized that the courses will equip small businesses with the skills necessary to grow, unlocking their potential in Nigeria’s economic landscape. SMEDAN also aims to train about 10,000 women and reach out to 1 million small businesses across the country, helping them access financing and grow their operations. The agency has plans to build infrastructure for small businesses and remove obstacles hindering their growth.
Odii advised MSMEs to join cooperatives and business clusters to access available funding opportunities more easily. He also urged winners of the intervention funds to use the money wisely to empower more people.
The event saw participation from government representatives, such as Bitrus Lawrence Garki, Mandate Secretary to the FCT Area Councils, and representatives from Lagos and Anambra states. These officials emphasized the importance of creating an enabling environment for small businesses to thrive, especially as MSMEs play a crucial role in addressing Nigeria’s economic challenges, including poverty and hunger. The Anambra State government also highlighted its efforts in supporting MSMEs with soft loans, skill acquisition programs, and investments in education and healthcare.
