The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has launched a conditional grant scheme to empower small businesses to be employers of labour.

SMEDAN made this known in a statement on Wednesday during the inauguration of its headquarters in Abuja.

The agency said the scheme is an initiative designed to empower SMEs by providing grants with the condition that recipients employ at least one person.

SMEDAN said the scheme will improve access to finance and address unemployment challenges.

Speaking at the event, Doris Uzoka-Anite, minister of industry, trade, and investment, described the conditional grant scheme as a strategic intervention aimed at providing financial support to deserving nano and micro-enterprises, ensuring they have the necessary resources to scale and contribute meaningfully to the nation’s economic prosperity.

Uzoka-Anite also commended SMEDAN for being a pivotal force in driving economic empowerment, job creation, and industrial development across the nation.

Commenting on the headquarters, SMEDAN said it houses innovative work hubs, common facility centres equipped with cutting-edge technological tools, industrial sewing machines, and woodwork machinery.

Leading the launch, Vice President Kashim Shettima commended SMEDAN for its pivotal role in advancing economic development through MSME empowerment.

Shettima stressed the commitment of President Bola Tinubu’s administration to create an enabling environment for small businesses to thrive, and the importance of technological advancements in boosting productivity and competitiveness.

“The empowerment of SMEs, SMEDAN’s primary objective, is a crucial piece in the mission to enhance the prosperity of our people,” Shettima said.

“These enterprises not only stand as the bedrock of our society but also reflect the direction the government is headed and the velocity with which we are heading there.”

On his part, Charles Odii, SMEDAN director-general, said the agency seeks to provide discounted access to these facilities, tailored to empower small business owners.

“This initiative enables them to enhance production quality, fostering growth and sustainability within the MSME sector,” Odii said.

“Our mission is to support the growth of MSMEs in the country by facilitating timely and adequate access to the resources they need, including finance, markets, and capacity building.

“This edifice not only helps us achieve this goal by enhancing the productivity of our staff but also delivers a significant local impact through work hubs and facility centers, ensuring entrepreneurs in the city can produce high-quality products while enjoying access to tools, power, and training on branding.”

Other dignitaries in attendance are Ayodele Olawande, minister of state for youth; Adenigba Fadahunsi, chairman of the senate committee on industries; and Mansur Soro, chairman of the house committee on SMEs.