SMEDAN plans to grow, develop small and medium businesses in Nigeria

Director General of Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Wale Fasanya has said that the agency is determined to enhance the growth and development of MSMEs across the country with renewed drive. Mr. Fasanya said this in Abuja. The SMEDAN CEO, who acknowledged the huge potential small and medium enterprises can play in the economic growth of Nigeria, said that the agency was working with banks and other stakeholders to develop a platform for easing the financial stress being faced by small investors in the country.

He said “We are working to develop both policy and financing framework to assist small and medium scale investors to overcome the funding challenges that they face daily in their bid to improve their performance and add value to the economy. By the time we are through with what we are doing to improve funding for SMEs in Nigeria, those engaged in the business will have easier access to financing at cheaper rate. We are going to even link the small investors with banks so that they can have direct access to available funding sources in the country,” he said.