Today marked a pivotal moment in our ongoing efforts to bolster the credibility of our SME database and nurture innovative startups across Nigeria. SMEDAN has officially signed a Memorandum of Understanding (MoU) with the National Information Technology Development Agency (NITDA), a partnership that is poised to bring substantial benefits to the small and medium-sized enterprise (SME) landscape and the nation’s startup ecosystem.
This collaboration is geared towards driving the implementation of the Nigeria Start-Up Act, a legislative framework designed to accelerate the growth of startups, particularly within the creative and innovation sectors. As part of this partnership, SMEDAN will play an instrumental role in ensuring that these sectors, which are critical to Nigeria’s economic diversification, receive the necessary support to flourish. The partnership will provide startups with access to resources such as innovation hubs, mentorship programs, and market opportunities, equipping them with the tools needed to scale and succeed.
One of the key areas of focus under the MoU is the enhancement of the SME database, which is crucial for tracking the progress and needs of small businesses across the country. A credible and comprehensive database will allow for more effective policy-making, better resource allocation, and a clearer understanding of the challenges and opportunities faced by SMEs. This initiative aligns with our broader mission to create a supportive environment where SMEs can thrive and contribute meaningfully to Nigeria’s economy.
Through the Start-Up Act, we are laying the groundwork for an ecosystem where creativity and innovation are not just encouraged but actively supported. This means establishing more innovation hubs where startups can develop their ideas, offering training and mentoring to foster entrepreneurial skills, and facilitating market access to ensure that these startups have the opportunity to showcase their products and services on both local and international stages.
I want to commend Mr. Kashifu Inuwa Abdullahi, the Director-General of NITDA, for his visionary leadership in this regard. His commitment to sustained SME development and his drive to foster an environment where innovation thrives is crucial to the success of this partnership.
In conclusion, the signing of this MoU is a critical step forward in realizing our shared vision of empowering SMEs and startups, driving economic growth, and positioning Nigeria as a global hub for innovation and entrepreneurship. We are excited about the potential of this partnership and look forward to the tangible benefits it will bring to the SME and innovation sectors.
