In a landmark move to drive inclusive economic growth and revitalization of the entrepreneurial ecosystem in Kaduna State, the Kaduna State Government has signed a Memorandum of Understanding (MoU) with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN).
The MoU, signed by His Excellency Senator Uba Sani, Executive Governor of Kaduna State and Charles Odii- DG/CEO of SMEDAN; formalizes a strategic partnership designed 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).
This collaboration is a ₦1 billion Matching Fund Program, jointly financed by both parties—₦500 million each from SMEDAN and the Kaduna State Government. The fund is aimed at providing 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 Objectives of the Partnership Include:
Empowering NMSEs with accessible and affordable capital.
Fostering a vibrant entrepreneurial ecosystem that supports innovation, productivity, and inclusive development.
Creating sustainable jobs and reducing poverty in both urban and rural communities across Kaduna State.
Speaking during the MOU signing ceremony, Odii commended the Kaduna State Governor for his exploits in transforming the economic landscape of the state through the creation of an enabling environment as well as investment in the provision of strategic capacity building for the good people of Kaduna State.
According to Odii, Kaduna State currently tops the chart on the SMEDAN dashbord for MSME registration and this is not surprising, seeing the heavy investment in human capital development driven by the Governor’s vision for the state.
H.E. Senator Uba Sani said “the partnership marks a bold step toward transforming Kaduna’s economic landscape and unlocking the full potential of our entrepreneurial talent.” The Governor further made a commitment to consider an upward review of the fund by the State Government within a short period, when the impact of this MOU begins to trickle in. According to him, “by pursuing the objectives in the MOU, we are directly addressing the root causes of financial exclusion, unemployment, poverty and insecurity in our communities“
The initiative signals a shared commitment by both SMEDAN and the Kaduna State Government to empower local businesses, stimulate economic activity, and uplift the standard of living for residents.
