SMEDAN announces N1bn conditional grant disbursement

Small and Medium Enterprises Development Agency of Nigeria has announced plans to disburse a total sum of N1bn in 2025.

SMEDAN stated that the amount would be distributed equally to Micro, Small and Medium businesses across the country, fostering economic growth and support for businesses of all scales.

This initiative, as outlined in the agency’s 2025 budget proposal submitted to the National Assembly, is a bold step in addressing the funding gaps and challenges faced by the sector, which plays a critical role in Nigeria’s economy.

According to SMEDAN, the grant will target businesses that demonstrate growth potential, possess sustainable business models, and have the capacity to create jobs and contribute to economic development