We’re working to eliminate barriers hindering SMEs’ productivity, says SMEDAN DG

Charles Odii, director-general (DG) of the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), says the agency is working to eliminate barriers hindering SMEs’ productivity.

Odii spoke at the African Growth and Opportunity Act (AGOA) forum held from July 24-26 in Washington, DC, United States.

The forum was convened to review the impact of the duty-free legislation and discuss necessary adjustments ahead of its renewal next year.

Signed into law by President Bill Clinton in May 2000, AGOA is a US trade preference programme that grants eligible sub-Saharan African countries duty-free access to US markets.

The legislation, extended in 2015 for an additional 10 years through 2025, seeks to deepen trade and investment relationships with Sub-Saharan Africa, promote economic growth, support regional integration, and facilitate the region’s integration into the global economy.

At the forum, SMEDAN organised a side event involving government agencies such as the Nigerian Export Promotion Council (NEPC), entrepreneurs, investors, and industry experts to explore investment and funding opportunities, share knowledge, and discuss potential collaborations.

“We are diligently working to eliminate inefficiencies and barriers that hinder productivity in Nigeria’s SME sector,” Odii said.

“As the secretary of the national council on SMEs, chaired by the Vice-president and led at the state level by all state governors, we are collaborating with other government agencies involved in taxation, health and safety regulations, land access, and financing to create a conducive environment for growth.”

Odii said the goal of the agency was to bridge the gap between Nigerian and US small businesses, ensuring that AGOA’s opportunities are fully leveraged to foster growth, industrialisation, job creation, and improved production quality for Nigerian SMEs.

He outlined the ‘GROW Nigerian’ strategic blueprint, through which SMEDAN seeks to support small businesses with guidance, resources, opportunities, and workforce development.

The DG said the agency’s efforts to enhance local production quality include negotiating affordable financing and providing discounted access to tools and infrastructure such as power through the ongoing revamp of its industrial development centres (IDCs).

Other efforts include promoting local resource potential through initiatives like ‘One Local Government One Product,’ and improving productivity through programmes like the national business skills development initiative.

Odii also highlighted SMEDAN’s initiatives to increase awareness of export opportunities such as AGOA among Nigerian small businesses, with targeted support for key sectors like textiles and agriculture.

He said the agency is working with organisations like National Agency for Food and Drug Administration and Control (NAFDAC), Standards Organization of Nigeria (SON), and NEPC to ensure adherence to safety and regulatory standards and to streamline the export process.

“We are diligently working to eliminate inefficiencies and barriers that hinder productivity in Nigeria’s SME sector,” Odii said.

“As the secretary of the national council on SMEs, chaired by the Vice-president and led at the state level by all state governors, we are collaborating with other government agencies involved in taxation, health and safety regulations, land access, and financing to create a conducive environment for growth.”

‘CONTINUOUS INVESTMENT WILL ENSURE SUCCESS OF THESE INITIATIVES’

Odii highlighted efforts to establish counterpart funding agreements with private and public organisations to boost affordable financing for small businesses.

This includes investments in training, business clinics, and the development of work hubs for high-growth sectors.

The DG stressed the need for continuous investment and collaboration from both government and private sector entities in the United States to ensure the success of these initiatives.

He assured potential investors of Nigeria’s significant economic potential and the current administration’s commitment to protecting private investments and ensuring market stability.

The AGOA conference saw participation from senior US government officials, including representatives from the white house and congress, as well as trade ministries from African countries, investors, business leaders, labour unions, and small business partners.