We’ll protect small businesses from inflationary pressure, says SMEDAN DG

Charles Odii, director-general of the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), says the federal government will remove the obstacles hindering the growth of SMEs and protect them from inflation.

Odii spoke on Thursday after meeting with President Bola Tinubu at the presidential villa.

The SMEDAN boss said he discussed the agency’s Grow Nigeria’ strategy, which aims to offer SMEs essential guidance, resources, opportunities, and workforce support to thrive, with the president.

He said Tinubu is committed to rural industrialisation, and job creation through the agency.

“SMEs are central to the president’s mission to eradicate poverty and ensure prosperity reaches all corners of Nigeria,” Odii said.

“His commitment was evident as we discussed SMEDAN’s grow Nigerian strategy, which includes plans to create an enabling environment for over 40 million small businesses, collectively providing over 60 million jobs. We are not only going to protect them from inflationary pressures but also empower them to drive down such trends.

“We will work with sister government agencies to streamline regulations and optimize them for growth and productivity. We will remove obstacles that hinder formalization and growth.

“With the strategy, SMEs will get affordable financing opportunities, access to lucrative domestic and international markets, tailored mentorship, and support to compete with capacity building for improved production standards.

“The president has expressed his support, and this was both exciting and reassuring.

“I am thankful to the President for his time and exemplary leadership.”

Odii said Tinubu’s assurance has “reinvigorated” his determination to “passionately pursue” SMEDAN’s mandate and “deliver meaningful outcomes” for small business owners nationwide.