Charles Odii, the Director-General and CEO of the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), has shared key updates on Nigeria’s support for small businesses. He spoke during a special session at the ongoing African Union (AU) MSME Forum.
“At the session, I shared some of Nigeria’s key achievements under our National MSME Policy, which is due for renewal this year,” Odii stated.
He explained that Nigeria has successfully mobilised funding for affordable financing, provided critical reliefs, and boosted inclusion for women and youth. He also revealed that the National Council on MSMEs has been inaugurated to drive coordinated action.
Odii further said that work has already started to renew the policy through a co-creation process. This includes contributions from stakeholders across government and the private sector.
The renewed policy will address important changes such as the African Continental Free Trade Area (AfCFTA), digital acceleration after COVID-19, global supply chain disruptions, and ongoing economic reforms.