The Small and Medium Enterprise Development Agency of Nigeria (SMEDAN) has announced plans to provide loans to 140 Micro, Small, and Medium-sized Enterprises (MSMEs).
This comes as Olam Agric has provided mixers to 700 bakers and confectioners. SMEDAN Director-General and Chief Executive Officer, Charles Odii, revealed this during the graduation ceremony of the bakers in Abuja.
Odii, who noted that Nigeria has 39,456,420 small enterprises, urged the graduates to utilise the resources provided to scale their businesses.
He said: “For us at the Small and Medium Enterprise Development Agency of Nigeria (SMEDAN), as of our last count, we have 39,456,420 small enterprises in Nigeria.
“We have further broken this down into different sectors. We have nano businesses, micro businesses, small businesses, and medium businesses.
“What you are doing for us today, Olam, is helping us to increase that number. Right now, you have injected an additional 140 entrepreneurs who are all women, and for this, we say thank you.
“Our nano businesses do not need a lot. These are businesses that have fewer than three employees and an annual turnover of less than three million.”
