By Yinka Kolawole
The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has unveiled Grow Fund for Small Businesses in Nigeria, a N500 million zero-interest fund for Micro, Small and Medium Enterprises (MSMEs) in the country.
SMEDAN Director-General, Charles Odii, announced the initiative, in Abuja, as part of activities to mark the 2026 World MSME Day.
Odii said the revolving loan would be disbursed through cooperatives, trade unions, business member organisations and associations rather than to individual entrepreneurs.
According to him, the association-based model will improve accountability, loan recovery and ensure the funds reach genuine business owners, adding that the financing was designed to address one of the biggest challenges confronting small businesses in Nigeria.
