The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has announced plans to distribute N1 billion to Micro, Small, and Medium Enterprises (MSMEs) across the country in 2025.
According to the agency, the initiative is aimed at addressing funding gaps, supporting business growth, and fostering job creation. The plan was highlighted in SMEDAN’s 2025 budget proposal submitted to the National Assembly and is subject to legislative approval and adequate funding from the office of the Accountant General.
An agency official, who spoke on condition of anonymity, stated, “The grant is designed to help small businesses scale up operations and generate more employment opportunities. However, disbursement is conditional, as only businesses with proven growth potential, sustainable models, and job-creation capacity will qualify.”
The N1 billion fund will be distributed equally among beneficiaries, with the agency collaborating with stakeholders to ensure transparency and accountability in the disbursement process.
The official added, “We are exploring the use of technology for this initiative, though we are mindful that not all our target beneficiaries are tech-savvy. The president has mandated us to support entrepreneurs, and we are fully committed to achieving that goal.”
This initiative underscores SMEDAN’s commitment to driving economic development through targeted support for MSMEs, which are a vital component of Nigeria’s economy.
