The Director-General of the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Charles Odii, has been actively promoting and supporting the growth of MSMEs in Nigeria. During his tenure, several initiatives have been implemented to propel SMEs forward and help them overcome their challenges.
One of the recent developments is the collaboration between Sahara Group Foundation and the Nigeria Philanthropy Office (NPO). This partnership aims to provide impactful philanthropic and investment support to MSMEs in targeted sectors of the economy, particularly focusing on promoting access to energy and sustainable societies, which are vital for the growth and development of MSMEs.
The partnership with the NPO demonstrates Sahara Group Foundation’s dedication to empowering and supporting MSMEs in Nigeria. It will serve as a model for “giving wings to the entrepreneurial spirit of the African Youth” and pave the way for similar partnerships in the future.
The strategic projects under this collaboration are expected to contribute to job creation in the supported sectors significantly. MSMEs are major contributors to Nigeria’s economy, accounting for about 48% of the national GDP. However, they continuously encounter challenges such as low access to finance, inadequate infrastructure, and high operating costs. This partnership will address some of these issues and provide much-needed support to MSMEs.
Under the leadership of Charles Odii, SMEDAN has taken several steps to assist MSMEs. Besides this collaboration, the organization formulated a National Policy for MSMEs that encourages entrepreneurship and enables access to financing as well as market prospects.
Furthermore, with an objective of enabling informed policy-making and decision-making processes in Nigeria; SMEDAN introduced The Enterprise Mapping And Data Gathering Initiative aimed at generating comprehensive records of all the country’s Micro Small Medium Enterprises (MSME) for future reference purposes.
Charles Odii’s leadership at SMEDAN manifests a dedicated resolve to foster the growth and advancement of MSMEs in Nigeria, as evidenced by several initiatives and alliances established. Given adequate support and policies, these entities possess remarkable potential for propelling economic expansion while generating numerous job opportunities. It is indeed encouraging to witness proactive steps towards realizing this potential.
