…Empowers business owners in Delta
Charles Odii, Director-General of the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), says the federal government’s decision to inject N50 billion into small businesses while introducing them to alternative sources of income and building their capacity, is to enable them to unlock access to more funds and build wealth.
Odii said that’s why the FG has earmarked N50 billion to support one million NANO businesses across the country, a programme that empowers a business with a monthly grant of N50,000.
Speaking to journalists in Asaba, shortly after the flag-off ceremony of the program in Delta North, he said, “I am in Asaba to speak to small business owners across the nine LGAs of Delta North Senatorial Districts and to support them through training and to give them grants to support and grow their businesses.
“The NANO businesses of SMEDAN are those businesses that have at least three employees with a turnover of less than three million naira.
“Poverty does not know political party, sex, or age, a hungry man is an angry man. Hunger leads to anger and anger leads to violence. This is the reason why we have a lot of youth unrest.
“One of the things we are doing as a long-term solution is to help improve the capacity of our people while the short-term solution is to give them grants as we are doing now.”, he said.
He appealed to state governments should not weaponize poverty but help reach out to young people and small businesses and grow them.
He said the state governments should partner with FG through SMEDAN, to develop the capacity of the small businesses in the country. “When a small business grows, a family grows. You feed one small business owner, you have fed at least 10 people”, Odii said.
“SMEDAN can’t do this alone, we need the support of the state governments to grow the small businesses in the country.”
He explained that the beneficiaries were selected through a seamless process via a technology-based system that was not biased but on merit, adding that it was not also based on any political party.
He disclosed that the agency has so far covered 14 states and that it would cover all 36 states and the Federal Capital Territory to empower small businesses in the country.
BusinessDay reports that some of the beneficiaries confirmed receiving an alert of N50,000 even while the flag-off ceremony was on. Odii said those who judiciously utilize the grant would be sure to receive alert on monthly basis.
