FG Launches SMEDAN Conditional SME Grant to Tackle Unemployment
Thursday 21 December 2023
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In a significant stride toward enhancing economic growth and addressing the issue of unemployment, the Federal Government has inaugurated a groundbreaking initiative, the SMEDAN Conditional SME Grant. The announcement came during the official opening of SMEDAN's headquarters in Abuja, reflecting the government's commitment to fostering the growth of small and medium enterprises (SMEs) and promoting job creation.
The newly introduced conditional grant initiative by SMEDAN is a strategic move aimed at empowering SMEs by offering financial support, contingent upon the commitment of recipients to employ at least one individual. This intervention seeks not only to bolster the financial capacity of deserving nano and micro-enterprises but also to make a substantial contribution to the nation's economic prosperity by generating employment opportunities. CONTINUE READING......
Doris Uzoka-Anite, the Minister of Industry, Trade, and Investment, commended the initiative as a pivotal step in providing essential resources for SMEs to expand. She praised SMEDAN for its instrumental role in propelling economic empowerment, job creation, and industrial development across the nation.
The recently unveiled SMEDAN headquarters stands as a hub of innovation, housing cutting-edge workspaces and common facilities equipped with advanced technological tools. These include industrial sewing machines and woodworking machinery, providing entrepreneurs with the vital resources needed to excel in today's competitive business landscape.
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Vice President Kashim Shettima, leading the launch event, applauded SMEDAN for its pivotal role in advancing economic development through Micro, Small, and Medium Enterprises (MSME) empowerment. He emphasized the government's dedication, under President Bola Tinubu, to creating an enabling environment for small businesses to thrive, underscoring the importance of technological advancements in enhancing productivity and competitiveness. CONTINUE READING....
Charles Odii, SMEDAN's Director-General, outlined the agency's mission to offer discounted access to facilities, empowering small business owners to improve production quality, foster growth, and ensure sustainability within the MSME sector. Odii reiterated the agency's commitment to supporting MSME growth by facilitating timely and adequate access to essential resources, including finance, markets, and capacity building.
The article also noted the presence of other dignitaries at the inauguration, including Ayodele Olawande, Minister of State for Youth; Adenigba Fadahunsi, Chairman of the Senate Committee on Industries; and Mansur Soro, Chairman of the House Committee on SMEs.
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