The Small and Medium Enterprise Development Agency of Nigeria (SMEDAN) has praised the Katsina State Government for its proactive support of small businesses through the disbursement of N250.7 million in loans to micro, small, and medium enterprises (MSMEs) across the state.
In a statement signed by SMEDAN’s Director-General and CEO, Charles Odii, the initiative was acknowledged as a significant step towards fostering economic growth and enhancing access to financial resources for small businesses.
A Commitment to Small Business Development
The loan program, executed in partnership with Sterling Bank, was lauded as an example of Governor Dikko Radda’s dedication to the sustainable development of small businesses in Katsina.
“This development showcases the Governor’s commitment to empowering small businesses through inclusive and affordable access to resources and opportunities,” Odii remarked.
Odii also highlighted the transparent and inclusive loan distribution process managed by the Katsina State Enterprises Development Agency (KASEDA).
Impact Across Sectors
The funds are being distributed to businesses in various sectors, including:
- Agriculture
- Trade
- Manufacturing
- Information Technology
Odii commended KASEDA for ensuring the funds reach deserving businesses and emphasized the importance of this initiative in driving local economic growth.
A Call for Replication Nationwide
SMEDAN expressed pride in its ongoing partnership with KASEDA and the Katsina State Government, reaffirming its support for MSME development in the state.
“We encourage other states to replicate this model of collaboration between government agencies, financial institutions, and the private sector to expand access to finance for SMEs,” Odii added.
This initiative serves as a benchmark for empowering small businesses and fostering economic resilience across Nigeria.
