Small and Medium Enterprises Development Agency of Nigeria, SMEDAN has launched MSMEs Data Bank. This is in furtherance of SMEDAN's effort in empowering Nigerian small businesses through its "GROW Nigerian" strategy, focusing on Guidance, Resources, Opportunities, and Workforce development.

This initiative aims to help small businesses scale, transition into the formal economy, and increase competitiveness in local and international markets.

*Key Initiatives:*

- *MSMEs Data Bank*: SMEDAN has launched a data bank to profile small businesses, enabling them to access financial support and track their growth.

- *Loan Fund*: A N5 billion loan fund has been unlocked through a partnership with Sterling Bank, with N250 million disbursed so far. More businesses are expected to qualify by meeting necessary requirements.

- *Training and Capacity Building*: SMEDAN offers business clinics and training sessions to build financial literacy and administrative capacity among entrepreneurs.

- *Partnerships*: The agency has partnered with Google, Wema Bank, and the Bank of Industry to provide digital literacy skills, financial access, and market expansion opportunities.

- *Garment and Textile Hub*: A hub has been established in Abuja, offering affordable access to industrial machines and solar-powered electricity for fashion entrepreneurs.

- *Job Creation*: SMEDAN created over 90,160 new jobs in Q1 2025 through targeted initiatives and partnerships, benefiting over 116,000 entrepreneurs.

*Future Plans:*

- Expand sector-specific hubs

- Deepen outreach to create more opportunities for Nigeria's growing entrepreneurial class

- Secure new partnerships to deliver more results in Q2 ¹