In line with one of its core mandates of providing support services to accelerate the development and modernization of MSME’s. the Small and Medium Enterprises Development Agency (SMEDAN) has begun the disbursement of N50,000 Conditional Grant Scheme (CGS) for 10,400 MSME’s spread across 5 states of the federation including the FCT.
Speaking at the flag-off of the disbursement in Abuja, the Director-General of SMEDAN. Dr. Dikko Umaru Radda, said the states targeted for this batch include; Kaduna, Yobe, FCT, Abia, and Delta, emphasizing the scheme may reach half of the 10,400 micro-enterprises projected in the 2020 budget due to availability of funds.
SMEDAN Conditional Grant Scheme (CGS) pilot scheme started in 2017 and covers Katsina, Gombe, Ebonyi, Oyo, Akwa Ibom, and Benue State, announcing that the Federal Government would extend the scheme to other states in due course.
The DG further revealed that as of 2017, Nigeria had about 41.47 million micro-enterprises employing about 56.73m people, hoping that the scheme will promote the activities of micro-enterprises across the country by providing the micro-enterprises with entrepreneurship training, business name registration, micro-insurance, and micro-financial grant of N50,000 each.