Nigeria’s Economic Growth Hinges on Prioritizing SMEs: NITDA and SMEDAN Join Forces

The National Information Technology Development Agency (NITDA) and the Small and Medium Enterprise Agency of Nigeria (SMEDAN) have joined forces to prioritize Small and Medium Enterprises (SMEs) in Nigeria, in an effort to create prosperity for the country.

During a signing of a Memorandum of Understanding (MoU) between the two agencies, NITDA Director General Kashifu Inuwa Abdullahi emphasized the importance of SMEs as the engine room of the economy.

He called for the creation of a database to end the conflicting figures being presented about the number of SMEs in the country.

Abdullahi said, “We talk about more than 40 million SMEs in Nigeria. That number represents more than 90 per cent of businesses in Nigeria.

If we really want to create prosperity for our country we should start prioritizing SMEs.”

The collaboration between NITDA and SMEDAN aims to foster digital literacy among SMEs, which will not only enhance their productivity but also help them become part of the digital economy.

“It can also help them to be part of the digital economy because our target is for every Nigerian to be part of the digital economy.

And when you’re talking about the engine room the SMEs should be our major focus,” said Abdullahi.

By leveraging technology, SMEs can expand their market reach and even become global brands, as demonstrated by the success of companies like Facebook and Twitter.

The collaboration between NITDA and SMEDAN is a significant step toward creating an enabling environment for SMEs in Nigeria, with the potential to drive economic growth and create more jobs.