The Small and Medium Enterprises Development Agency of Nigeria has said that the rise in energy costs, particularly electricity and petrol, has posed a big challenge to small businesses in Nigeria.
SMEDAN added that increased costs directly impact production costs, transportation expenses, and overall operational efficiency.
The Director-General of SMEDAN, Charles Odii, disclosed this in an exclusive interview with The PUNCH in Lagos.
He announced that to address the challenges, SMEDAN is working with state governments to remodel and establish industrial clusters and work hubs.
“The rise in energy costs, particularly electricity and petrol, has posed quite a challenge to small businesses in Nigeria. These increased costs directly impact production costs, transportation expenses, and overall operational efficiency.
“To address this challenge, SMEDAN is taking several steps. We are working with state governments to remodel and establish industrial clusters and work hubs,” Odii stated.
According to him, these facilities offer SMEs discounted access to essential resources, including affordable electricity and shared machinery.
