The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has taken a significant step towards boosting youth entrepreneurship and enterprise development by disbursing ₦5 billion in grants. This funding is targeted at over 30,000 students in tertiary institutions within the North West zone of Nigeria. The initiative, led by President Bola Ahmed Tinubu GCFR and supported by the Speaker of the House of Representatives, Rt. Hon. Abbas Tajudeen, aims to reshape how students approach their academic and business futures.
SMEDAN’s goal is to shift students’ perspectives, urging them to see their academic journey not just as a path to knowledge, but as an opportunity to launch businesses and foster innovation. The grant program provides financial backing alongside real-world experience, helping students bridge the gap between classroom learning and the skills needed to thrive in the business world.
Dr. Charles Odili, the Director General of SMEDAN, emphasized that the agency’s work goes beyond simple grant distribution. It is about creating a solid foundation for long-term economic empowerment. “We are not just handing out grants; we are building the foundation for sustainable economic empowerment,” said Dr. Odili.
This initiative also aligns with the Workforce Support pillar of the GROW Nigerian strategy, a national initiative designed to scale up local enterprises, empower young Nigerians, and foster long-term economic growth. By expanding this grant initiative, SMEDAN is creating opportunities for youth-led innovation and small business growth across Nigeria.
The disbursement of grants will continue to other regions, ensuring that more young Nigerians have access to the resources needed to start businesses and contribute to the country’s economic development. This program represents a key step in growing Nigerian businesses from the ground up.