SMEDAN reaffirms commitment to industrial growth
Director-General of the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Dr. Charles Odii, has reiterated the government’s commitment to ensuring a business environment that allows enterprises under its
Director-General of the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Dr. Charles Odii, has reiterated the government’s commitment to ensuring a business environment that allows enterprises under its purview to attain their full potential.
He made this commitment during a working visit to Falcon Chemicals Ltd in Ogun State at the weekend.
Dr. Odii, who conducted a fact-finding mission at the 40-year-old organization, expressed his impression of the facility and promised to assist the company in transitioning to its next level of operations.
According to Odii, the President Tinubu-led administration has taken critical steps toward providing infrastructure that enables industries to thrive.
He cited ongoing work on Nigeria’s major highways and the expansion of the ports, which he noted would significantly enhance trade.
He further noted that, over the last couple of years, the government has released over 200 billion naira to support growing enterprises across the country.
This fund, he explained, is being distributed to nano, small, and medium-sized businesses as grants to help them develop their potential.
Odii, who has served as Director-General for two years and four months, stated that the greatest challenge facing the agency is the prevailing skepticism among Nigerians regarding access to grants.
“People lack faith and trust in the system,” he said. “There are funds available for businesses, but people do not come to access them. They don’t even attempt the process.
“Those who do benefit from grants are often reluctant to share their experiences with others. Sometimes, we are forced to publish the names of beneficiaries to prove the grants are real.”
He informed the Falcon management that SMEDAN is dedicated to providing guidance, resources, and opportunities to enterprises. By fulfilling its statutory role, Odii stated that the agency has succeeded in bolstering investor confidence in Nigeria.
He emphasized that the first step for any organization seeking to access SMEDAN funds is to complete the registration process.
“As soon as a company within our purview completes registration, it becomes eligible for our services,” he added.
When asked how insecurity has affected businesses, Odii noted, “As an agency, we are aware of security challenges and have helped to create a link between business owners and security agents to ensure they can access security services whenever needed.”
In response, the Managing Director of Falcon Chemicals Ltd, Mr. Babatunde Adefarati, expressed his appreciation for the Director-General’s visit.
He noted that the visit serves as a significant encouragement to both staff and management.
Adefarati revealed that the company has currently explored only 5% of its inbuilt potential.
“Our goal is to meet local demand and eventually expand for export. Currently, we import 70% of our raw materials,” he said.
He disclosed that the company is on the verge of entering a new phase that will impact the paint industry more significantly than ever before
