SMEDAN To Disburse N1bn Grant For Small Businesses In 2025

The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has announced plans to disburse N1 billion in conditional grants to Micro, Small, and Medium Enterprises (MSMEs) across the country in 2025.

The initiative, detailed in SMEDAN’s 2025 budget proposal submitted to the National Assembly, aims to address critical funding gaps and provide financial lifelines to businesses poised for growth. According to the agency, the grant will prioritize enterprises with sustainable business models, job creation capacity, and growth potential.

An official from SMEDAN, who spoke on condition of anonymity, said, “The grant will help small businesses scale up operations and create jobs. While the total amount is N1 billion, it will be shared equally among qualified businesses to maximize impact. The president has mandated us to support entrepreneurs, and we are committed to delivering.”

Recommended News:

• Ijaya’s Legacy Lives On: Late Rt. Hon. Adewunmi Onanuga’s Team Gives Education Grant, Empowers Students With Laptops
• Akarigbo Calls For Collaboration On Old Province State’ Creation
• Lagos Assembly Shake-Up: Meranda Takes Charge, Names New Leadership After Obasa’s Impeachment

However, the plan hinges on legislative approval from the National Assembly and adequate funding from the Office of the Accountant General.

SMEDAN is also exploring the use of technology to ensure efficient and transparent disbursement, despite challenges in reaching a largely non-tech-savvy target audience. Collaborations with relevant stakeholders are underway to ensure a smooth rollout of the program.

The announcement comes at a critical time when many government agencies have lamented poor capital spending in the previous year. If approved, the N1 billion grant could provide the much-needed boost to Nigeria’s struggling MSMEs, a sector that contributes significantly to the nation’s GDP.

This bold step by SMEDAN is poised to empower entrepreneurs, drive economic growth, and position MSMEs as a cornerstone of Nigeria’s recovery and development.