The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has unveiled plans to distribute N1 billion in conditional grants to support Micro, Small, and Medium Enterprises (MSMEs) across the nation in 2025.

The grant, aimed at fostering economic development and empowering small-scale businesses, is part of SMEDAN’s 2025 budget proposal submitted to the National Assembly. The initiative is designed to address the financial challenges faced by MSMEs, a vital sector that significantly contributes to Nigeria’s economy.
Grant Details and Objectives
According to SMEDAN, the funds will be equally distributed among eligible businesses that demonstrate growth potential, employ sustainable business strategies, and possess the capacity to generate jobs. The program seeks to empower entrepreneurs and stimulate economic activities in various industries.
An agency official, speaking on condition of anonymity due to the sensitive nature of the discussions, confirmed the proposal. “The plan to disburse N1 billion to small and nano businesses is subject to approval by the National Assembly and the availability of funds from the accountant general’s office,” the official stated.
Conditional Access to Funding
The grant will come with specific requirements to ensure it reaches businesses with genuine growth prospects. “This initiative aims to help small businesses expand and create jobs. However, businesses must meet certain criteria before accessing the grant,” the official added.
The grant allocation reflects SMEDAN’s commitment to addressing the funding gaps that hinder the growth of many small enterprises. The agency also plans to collaborate with stakeholders to ensure transparency and accountability in the disbursement process.
Technology Integration in Grant Distribution
Recognizing the challenges of reaching a diverse audience, SMEDAN intends to leverage technology to streamline the grant application and distribution process. While the agency acknowledges that some beneficiaries may not be tech-savvy, efforts will be made to simplify the system for ease of access.
Federal Government’s Mandate to Empower Entrepreneurs
This proposed initiative aligns with the federal government’s directive to enhance entrepreneurial development across Nigeria. SMEDAN reaffirmed its dedication to fulfilling this mandate, ensuring that the funds will be utilized to support economic growth and job creation.
The N1 billion grant proposal highlights SMEDAN’s proactive approach to addressing the needs of MSMEs, promising a brighter future for entrepreneurs and small businesses nationwide. Final approval and funding are pending legislative and financial clearance.