The Securities and Exchange Commission (SEC) and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) have signed a Memorandum of Understanding (MoU) to enhance access to long-term financing for small and medium enterprises (SMEs) through the Nigerian capital market.
The collaboration, signed in Abuja, is designed to provide alternative funding sources for over 40 million registered micro, small, and medium enterprises (MSMEs) across the country. According to both agencies, the initiative will enable small businesses to expand operations, create jobs, and contribute to the Federal Government’s $1 trillion economy target.
Speaking at the event, SEC Director-General, Emomotimi Agama, said the partnership marks a major step toward integrating SMEs into the nation’s capital market ecosystem.
“Capital is the bedrock of any company. Today, we have about 40 million small and medium enterprises duly registered with SMEDAN. It is important that, as a capital market, we find a route for these enterprises to raise capital for sustainability,” Agama said.
He added that the agreement would encourage more SMEs to list on the stock exchange, allowing them to share ownership with Nigerians and promote wealth creation and economic expansion.
The partnership is expected to bridge the financing gap faced by millions of entrepreneurs and strengthen Nigeria’s capital market as a driver of inclusive growth.
