SMEDAN, the Small and Medium Enterprises Development Agency of Nigeria, is a dedicated entity focused on fostering the growth of small and medium enterprises (SMEs). In collaboration with the Federal Republic of Nigeria, SMEDAN is extending substantial loans to business owners, contributing to economic development as the new government emphasizes stability.
According to a statement from the Corporate Affairs Division of the Agency in Abuja, Dr. Dikko Umaru Radda, the Director-General and Chief Executive Officer of SMEDAN, expressed the commitment of both institutions to the success of this initiative for the benefit of Nigerian Micro and Small Enterprises (MSEs).
The Matching Fund initiative, which opened its portal to the public on February 22, 2022, is a strategic intervention designed to provide credit to the agri-business sub-sector. Its goal is to enhance enterprise output, competitiveness, and job creation, aligning with the broader objective of fostering economic growth.
Dr. Radda further highlighted that Jaiz Bank Plc will serve as the disbursing entity under this program, solidifying its role as the Agency’s latest partner in this initiative.
The collaboration aims to facilitate the effective distribution of funds and support the growth of businesses in Nigeria. As business owners, this presents a unique opportunity to access substantial financial support to fuel the expansion and development of your enterprises.
To take advantage of this initiative, prospective applicants are encouraged to explore the opportunities presented by the SMEDAN Loan Initiative, signaling a positive step toward the economic empowerment of SMEs in Nigeria.