In a bold move to revitalize Nigeria’s economy from the bottom up, the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has unveiled a new strategic initiative designed to empower micro, small, and medium enterprises (MSMEs) as engines of job creation, innovation, and national revenue growth.
The program, titled “GROW Nigerian”, was officially launched by SMEDAN’s Director-General, Mr. Charles Odii, during a briefing in Abuja. More than just another government support program, GROW Nigerian is being positioned as a national economic strategy, aimed at reengineering the country’s approach to enterprise development.
“This strategy is our theory of change,” Odii said. “By providing the right combination of Guidance, Resources, Opportunities, and Workforce Support — which form the GROW acronym — we believe Nigerian MSMEs can overcome persistent obstacles and unlock their full growth potential.”
Reimagining MSMEs as the Core of Economic Revival
With Nigeria facing rising unemployment, high youth underemployment, and a sluggish industrial base, policymakers are increasingly turning to the MSME sector — which accounts for over 90% of businesses and contributes nearly 50% of GDP — as a critical lever for inclusive economic growth.
SMEDAN’s GROW Nigerian strategy takes a holistic, ecosystem-based approach to MSME development. Instead of focusing solely on funding, the initiative integrates multiple layers of support to address systemic constraints such as:
- Lack of technical know-how and mentorship
- Limited access to markets and finance
- Poor infrastructure and digital exclusion
- Regulatory bottlenecks and compliance burdens
Odii emphasized that the new strategy is anchored in structured mentorship, business advisory services, and policy navigation support — tools that many MSMEs currently lack but urgently need to survive and scale.
From Survival to Scale: Building Resilient Enterprises
At the heart of GROW Nigerian is the ambition to move MSMEs from mere survival to scalability and sustainability. The framework outlines a range of interventions including:
- Tailored business guidance for startups and growth-stage enterprises
- Access to low-interest funding through public-private partnerships
- Integration into domestic and international markets via trade expos and digital platforms
- Digital capacity building to help businesses adopt e-commerce, fintech tools, and automation
- Workforce training programs to close skills gaps and align labor supply with industry needs
“We are not just offering handouts — we’re creating pipelines for productivity and resilience,” Odii explained. “GROW Nigerian is about giving MSMEs what they truly need to thrive in today’s competitive economy: tools, networks, and knowledge.”
A Strategic National Shift
Unlike past interventions that often suffered from fragmentation or lack of continuity, SMEDAN insists that GROW Nigerian is part of a long-term national economic shift, aligned with the Federal Government’s broader economic diversification and job creation agenda.
The strategy aligns with President Bola Tinubu’s “Renewed Hope Agenda,” which prioritizes enterprise development, youth empowerment, and industrialization. By unlocking the latent potential of Nigeria’s estimated 41 million MSMEs, the government aims to reduce reliance on imports, expand local production, and stimulate inclusive wealth creation.
Next Steps: Implementation and Stakeholder Mobilization
SMEDAN is now embarking on a national rollout of the GROW Nigerian framework, which will involve working with state governments, development partners, financial institutions, and private sector actors. Pilot programs in select regions will be used to test delivery models before full-scale implementation.
The agency also plans to launch a digital platform where MSMEs can access resources, apply for support, and connect with mentors and investors.
“This is not just a program — it is a movement to transform Nigeria’s economy by empowering the businesses that form its foundation,” Odii concluded.
As Nigeria seeks to recalibrate its growth model amid global uncertainties and local challenges, the success of GROW Nigerian could serve as a blueprint for bottom-up economic reform — one built on entrepreneurship, innovation, and resilience.
