Business
SMEDAN Set To Reposition MSMEs As Engine Of Socio-Economic Transformation

The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), has pledged to reposition Micro Small and Medium Enterprises (MSMEs) as engine of socio-economic transformation.
The Director-General of SMEDAN, Mr Olawale Fasanya said this at a news conference to herald the 2022 World MSMEs Day.
Represented by Dr Friday Okpara, Fasanya said that the capacity to drive employment generation and wealth creation was a reason to celebrate MSMEs.
“MSMEs have been globally recorgnised as the engine of socio-economic transformation in both developed and developing economies.
“They provide the opportunity to drive employment generations and wealth creations as well income redistribution within societies.
“These further unveil them as the distinct mainstay of the economy that requires befitting attention.
“The relevance and importance of this sub-sector is further demonstrated as revealed by 2020 SMEDAN/National Bureau of Statistics national MSMEs survey,’’ Fasanya said.
The survey revealed an estimated 39. 65 million MSMEs in Nigeria, contributing 46.31 per cent to national Gross Domestic Product (GDP) and employing 87.9 per cent of the labour force and accounting for 6.21 per cent of export.
According to Fasanya, the expectation of SMEDAN is to digitally reposition the subsector to be regionally, continentally and globally competitive and to make Nigeria a dominant player in the African Continental Free Trade Area (AfCFTA).
“It is, therefore, based on the relevance of MSMEs that the United Nations set aside June 27 of every year to recorgnise and celebrate the contributions of MSMEs globally,’’ he said.
Fasanya, however, said that challenges confronting the MSMEs subsector could be surmountable if proper policies and programmes were in place.
He listed some of the challenges as poor entrepreneurial/management capacity of operators in successfully running MSMEs and weak financial management.
Fasanya also identified poor state of infrastructure and inability to access affordable finance.
“Access to finance is a major challenge hindering the growth of MSMEs.
“MSMEs need steady power supply, water, roads, market for effectiveness,’’ he said.
Fasanya said that the agency would undertake awareness campaign as part of the celebration to sensitise Nigerians on the relevance of MSMEs in growing the economy.
“As we are set to celebrate the MSMEs Day, we recorgnise the strategic importance of the MSMEs subsector.
“We remain unyielding in strengthening both existing MSMEs and start-ups, particularly in agriculture, agro-based industries, youth and women-led enterprises.
“Nigeria should be converted from a consuming nation to a producing nation through the activities of this sub-sector,” Fasanya said.
He, however, urged MSMEs operators to take advantage of programmes and initiatives of SMEDAN to grow their businesses.
Business
USTR Criticises Nigeria’s Import Ban On Agriculture, Others
The United States Trade Representative (USTR) has criticised Nigeria’s import ban on 25 categories of goods, claiming that the restrictions limit market access for American exporters.
This is the effect of President Donald Trump’s tariffs introduction on goods entering the United States, with Nigeria facing a 14 per cent duty.
The USTR highlighted the impact of Nigeria’s import ban on various sectors, particularly agriculture, pharmaceuticals, beverages, and consumer goods.
The restrictions affect items such as beef, pork, poultry, fruit juices, medicaments, and alcoholic beverages, which the United States sees as significant barriers to trade.
The agency argues that these limitations reduce export opportunities for United States businesses and lead to lost revenue.
“Nigeria’s import ban on 25 different product categories impacts United States exporters, particularly in agriculture, pharmaceuticals, beverages, and consumer goods.
“Restrictions on items like beef, pork, poultry, fruit juices, medicaments, and spirits limit United States market access and reduce export opportunities.
“These policies create significant trade barriers that lead to lost revenue for United States businesses looking to expand in the Nigerian market”, the agency said .
In 2016, Nigeria implemented the ban on these 25 items as part of efforts to control imports and stimulate local production.
Some of the banned items include poultry, pork, refined vegetable oil, sugar, cocoa products, spaghetti, beer, and certain medicines.
On March 26, 2025, the Federal Government also announced plans to halt solar panel imports to encourage local manufacturing as part of its push for clean energy.
Business
Expert Seeks Cooperative-Driven Investments In Agriculture
A leading agribusiness strategist and digital agriculture expert, Ayo Oluwa Okediji, has sought cooperative-driven investments in sustaining growth of poultry industry in Nigeria.
He said the poultry industry was at a defining moment and requires urgent structural reforms to secure its future and ensure long-term sustainability.
Speaking on the theme, “Strengthening Poultry Farming Through Cooperative Synergy and Strategic Investments”, at the recently concluded Oyo Mega Poultry Workshop 2025 in Ibadan, Okediji called on poultry farmers, cooperative leaders, financial institutions and policy makers to rethink the existing structure of the poultry sector.
He stressed the need to transition from fragmented, individually-driven operations to well-structured, cooperative-led enterprises capable of attracting sustainable financing and securing long-term viability.
He said, “Our poultry sector cannot thrive on individual effort alone. We need to organise ourselves into cooperative clusters, build strong governance systems and position ourselves to attract the level of investment needed to sustain this industry beyond this generation.”
Drawing on lessons from successful global cooperative models such as Rabobank in the Netherlands and Landus Cooperative in the United States, Okediji introduced the FarmClusters Poultry Model, a locally adapted solution developed by Agribusiness Dynamics Technology Limited (AgDyna), a subsidiary of AgroInfoTech Africa.
According to him, the model is currently being piloted in Oyo State in partnership with PANOY Agribusiness Limited and local poultry cooperatives.
Business
NACCIMA Proposes Hybrid Oil Palm Seedlings For Farmers
The Rivers State Representative of the Nigeria Chambers of Commerce, Mines, Industries and Agriculture (NACCIMA), Mr. Erasmus Chukwundah, has urged palm oil farmers to consider hybrid seedlings for planting, if they must break even in palm oil business.
Chukwundah said this recently at the Free Oil Palm Business Climate Smart Best Management Practice/Assistance Training organized by Partnership Initiative In Niger Delta (PIND) for Palm Oil Farmers in Elele, Ikwerre Local Government Area.
The Rivers representative said until palm oil farmers begin to consider such hybrid oil palm seedlings, they may not meet up with the daily increasing demand of palm oil in the market.
According to him, the seedlings produce up to 30 bunches at once that ripen same time.
He said PIND decided to partner with Oil Palm Growers Association of Nigeria (OPGAN) to ensure that the message was received by the targeted audience.
According to him, palm oil remained a popular choice of industry operators as it could be converted to many other products such as vegetable cooking oil.
He also noted that products such as motor tyers, marine ropes and others are now gotten from the palm tree.
Chukwundah, who is the immediate past Director-General of Port Harcourt Chamber of Commerce, Mines, Industries, and Agriculture (PHCCIMA), further warned against use of unrecommended fertilisers in growing oil palms.
He noted that such practices could limit its export value or chances as the foreign marketers have a way of detecting such .
He reiterated the need for organic fertilizers, including poultry droppings, to enable them have a natural palm oil.
“People must reduce physical contact with palm oil production. That is why we are campaigning for hydrolic oil mills. The foreign markets are no longer interested in crude method of palm oil production”, he said.
Meanwhile, one of the farmers, Sonny Didia, who appreciated Chukwundah’s commitment towards the concern of farmers, appealed for an urgent need for loan opportunity with low interest rate in order to enable them beat the target.
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