The Federal Government of Nigeria has injected N50 billion in grants into small businesses across the country to support beneficiaries in starting and growing their businesses, while also providing training for these business owners.
The Director General, Small and Medium Enterprise Development Agency of Nigeria (SMEDAN), Charles Odii, disclosed that the aim is to build the capacity of business owners to be self-reliant.
Speaking to journalists on Thursday, September 5, 2024, in Asaba, Delta State capital, shortly after a meeting with small business owners in the nine local government areas of Delta North Senatorial District, Odii said, “We are here to support our small business owners by training them and giving them grants to start and grow their businesses.”
The young entrepreneur and advocate for small businesses expressed concern over feedback received in Delta, alleging that grants were given to members of a particular political party, which he condemned.
“I am being told that in Asaba, what has been happening in Delta State, is that benefits for small businesses are only going to one political party. This is very wrong; poverty does not know one political party, poverty does not know sex, poverty does not know age. A hungry man is an angry man,” warning that hunger leads to anger and anger leads to violence.
The SMEDAN Director General emphasized the need to address hunger and anger among youths, citing them as reasons for restiveness. He highlighted the agency’s efforts to provide long-term solutions by improving the capacity of young people and short-term solutions through grants.
Odii appealed to the government not to weaponize poverty in Delta State, urging them to ensure benefits reach all small and medium enterprises across the country. He emphasized that when small businesses grow, families grow, and feeding small business owners feeds 10 people.
He called on the state government to partner with SMEDAN to develop the capacity of small business owners, revealing that the N50 billion set aside by the President is to boost one million nano businesses with N50,000 each.
Odii explained that nano businesses have less than three employees and a turnover of less than N3 million, describing the grant as a fresh injection of N50,000 into these businesses. He emphasized the need to build capacity and explore alternative sources of income.
The selection process for participants involves registration on www.smedan.gov.ng followed by shortlisting and training. Odii noted that President Ahmed Bola Tinubu’s administration aims to empower individuals without connections or shortcuts.
To reduce corruption, modern technology is used to collate bank details for grant payments, ensuring transparency and merit-based selection. Odii revealed plans to cover all 36 states and the FCT before the end of the year, having already visited 14 states.
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