Kaduna State Government has signed a Memorandum of Understanding (MoU) with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) to drive inclusive economic growth in the state.
The MoU, signed by the Governor of Kaduna State, Senator, Uba Sani and he Director General, SMEDAN, Charles Odii formalizes a strategic partnership designed to enhance access to finance, strengthen business development support, and expand employment opportunities across the state through the growth of Micro, Small, and Medium Enterprises (MSMEs).
The collaboration hopes to raise N500 million by each party to provide an affordable and accessible financing options to entrepreneurs and small business owners, particularly Nano, Micro, and Small Enterprises (NMSEs), for working capital and asset acquisition.
Key Objectives of the Partnership Include:
-Empowering NMSEs with accessible and affordable capital.
-Fostering a vibrant entrepreneurial ecosystem that supports innovation, productivity, and inclusive development.
-Creating sustainable jobs and reducing poverty in both urban and rural communities across Kaduna State.
Speaking during the MoU signing ceremony, Mr Odii commended the Kaduna State Governor for his exploits in transforming the economic landscape of the state through the creation of an enabling environment as well as investment in the provision of strategic capacity building for the good people of Kaduna State.
According to Mr Odii, Kaduna State currently tops the chart on the SMEDAN dashboard for MSME registration and this is not surprising, seeing the heavy investment in human capital development driven by the Governor’s vision for the state.
On his part, Uba Sani said “the partnership marks a bold step toward transforming Kaduna’s economic landscape and unlocking the full potential of our entrepreneurial talent.” The Governor further made a commitment to consider an upward review of the fund by the State Government within a short period, when the impact of this MOU begins to trickle in.
According to him, “by pursuing the objectives in the MoU, we are directly addressing the root causes of financial exclusion, unemployment, poverty and insecurity in our communities “
The initiative signals a shared commitment by both SMEDAN and the Kaduna State Government to empower local businesses, stimulate economic activity, and uplift the standard of living for residents.
