“The Nigerian government has been supporting MSMEs through funding and capacity-building initiatives. However, the question remains: Are Nigerian entrepreneurs ready to maximize these opportunities? Do they meet the eligibility criteria?” he asked.
Director-General (DG) of the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Mr. Charles Odii, represented by Peter Adeshina, stated that the training aimed to educate small business owners on structuring their enterprises to access available opportunities.
“SMEs are critical to economic prosperity and growth, and our role is to support them. A business clinic is like a medical clinic—when you visit, you receive treatment, feel revitalized, and can then expand and succeed.
“Our objective here is to provide guidance on structuring businesses for growth. Currently, finance in Nigeria is costly due to high interest rates. However, there are measures SMEs can take to secure affordable loans and grants.
“For instance, formalising a business—something as simple as registering it—can determine whether one can access opportunities or not. Business owners should also open dedicated business accounts to establish a credit history, making them more trustworthy to investors,” he advised.
He expressed optimism that the training would enhance SMEs’ operations.
“At the end of this event, we expect SMEs to function more effectively. With the information provided, they will be able to restructure their businesses, abandon ineffective practices, and embrace growth.
“Accessing SMEDAN opportunities requires registration with the agency. Fortunately, SMEDAN has state offices nationwide where business owners can seek support. We anticipate that, after this exercise, more entrepreneurs will be better positioned for success,” he added.
The Senior Special Adviser to the Minister of State for Industry, Trade, and Investment, Adeshile Deji, encouraged the trainees to engage in continuous capacity-building programs from relevant agencies to enhance their skills and business operations.
