Charles Odii is the Director-General of the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN). He is committed to fulfilling President Bola Tinubu’s mission of eradicating poverty and ensuring prosperity for all in Nigeria. Under his leadership, SMEDAN has taken significant steps to support the growth of small businesses in the country.
Recently, the Federal Government announced the launch of a Presidential Intervention Fund of N200 billion for MSMEs and manufacturers. The fund aims to provide financial support to small businesses and manufacturers to help them grow and thrive in the challenging economic climate.
Charles Odii has always been vocal about removing obstacles that hinder the growth of MSMEs in Nigeria. With the launch of this intervention fund, he is keeping his word. The fund is divided into two parts – N75 billion for MSMEs and N75 billion for the manufacturing industry. This allocation shows the government’s commitment to supporting both sectors, recognizing their potential to create jobs and contribute to the economic growth of the country.
This announcement comes at a time when many small businesses and manufacturers are struggling due to the impact of the COVID-19 pandemic. The N50,000 Presidential Conditional Grant Scheme, also known as the Trade Grants Scheme, will provide much-needed relief to nano businesses nationwide. This is a promising sign for the future of these businesses and their ability to weather the current economic storm.
Thousands of beneficiaries have already received the funds, with many more to come. This is a testament to the efficiency and transparency of SMEDAN’s administration and their commitment to supporting the growth of MSMEs in Nigeria.
Charles Odii has highlighted SMEDAN’s GROW Nigerian strategy, which includes plans to create an enabling environment for over 40 million small businesses in the country. This strategy aims to empower these businesses to drive economic growth and create over 60 million jobs.
SMEDAN is taking steps to protect MSMEs from inflationary pressures, which can be a major hurdle to their growth. By doing so, they are not only supporting the existing businesses but also encouraging the growth of new ones in the future.
