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Economic growth

Kaduna State and SMEDAN Sign MoU to Enhance Economic Growth and MSME Revitalization

Strategic Insights

— 1 min read

In a significant move towards inclusive economic growth and revitalization of the entrepreneurial ecosystem in Kaduna State, the government has signed a Memorandum of Understanding (MoU) with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN). The MoU, signed by Governor Uba Sani and SMEDAN Director-General Mr. Charles Odii, aims 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 partnership is centered around a ?1 billion Matching Fund Programme, jointly financed by both parties, to provide 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 Takeaways:

  • The MoU between Kaduna State Government and SMEDAN aims to empower Nano, Micro, and Small Enterprises (NMSEs) with affordable capital for working capital and asset acquisition.
  • The partnership focuses on fostering a vibrant entrepreneurial ecosystem that drives innovation, productivity, and inclusive growth in Kaduna State.
  • The initiative targets sustainable jobs and poverty reduction in urban and rural communities, addressing financial exclusion, unemployment, poverty, and insecurity.
  • Governor Uba Sani has committed to reviewing the ?1 billion fund upwards when the impact of the MoU becomes noticeable.
  • Kaduna State currently tops the SMEDAN dashboard for MSMEs registration, attributed to the state's investment in human capital development under Governor Uba Sani's vision.
  • The partnership is aimed at unlocking the full potential of Kaduna State's entrepreneurial talent and transforming its economic landscape.

Statistics:

  • The MoU involves a ?1 billion Matching Fund Programme jointly financed by Kaduna State Government and SMEDAN, with two parties contributing ?500 million each.
  • The partnership targets providing affordable capital to Nano, Micro, and Small Enterprises (NMSEs) for working capital and asset acquisition.
  • Kaduna State currently leads in MSMEs registration on the SMEDAN dashboard, indicating success in human capital development.

Sources:

  • Voice of Nigeria, 30 June 2025: "Kaduna State Government and SMEDAN Sign MoU to Drive Inclusive Economic Growth and Revitalization of Entrepreneurial Ecosystem".

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