There are 41.4 million MSMEs in Nigeria -SMEDAN

Date:

Share post:

The Small and Medium Enterprise Development Agency of Nigeria (SMEDAN) has revealed that there are 41.5 million micro-businesses in Nigeria. It also added that micro-businesses employ around 56 million citizens across all sectors of the economy, thereby contributing around 49.8% to the nation’s GDP.

The statistics were made public today by Mr. Monday Ewans, the Director, Development and Promotion, SMEDAN, at the Enterprise Development Centre (EDC), an arm of the Pan Atlantic University, during a media session to announce the forthcoming Enterprise Walk and the Global Entrepreneurship Week starting next week.

According to Mr. Ewans, “SMEDAN, as a government agency has been working tirelessly to get accurate data that will truly represent the entrepreneurs ecosystem in Nigeria”.

“Therefore the agency entered into partnership with the Enterprise Development Centre, and opened an enterprise hub at Yabatech to ensure the entrepreneurship base is fully catered to”, he added.

He further explained that “as at the beginning of the year, there are about 41.5 million micro-businesses in the country; providing jobs for about 56 million Nigerians, contributing 49.8% of the GDP”.

SMEDAN is an agency saddled with the responsibility of supporting small businesses in Nigeria. Therefore, to carryout its job, it needed to ascertain the number of small businesses operating within the country, and what their challenges are.

Toyin Afilaka
Toyin Afilaka
Toyin Afilaka writes with simplicity and insight. He aims to enrich the Nigerian small business landscape. Through Hustle24 he connects entrepreneurs with information about new policies, enterprise solutions and opportunities that will aid their 'hustle'. He has written extensively for CobraReview, a product review portal, and served as a lead project manager for MarketingMix where he consulted as PR consultant for MTN Project Fame and Business Next Titan etc.

LEAVE A REPLY

Please enter your comment!
Please enter your name here
Captcha verification failed!
CAPTCHA user score failed. Please contact us!

Related articles

Focus more on cultivating your mindset instead of strategy – Joan Ekobena, CEO Homecare Solutions Inc

In business school, I was made to believe that strategy is everything—that if you have an ironclad strategy,...

How to Prepare Your Small Business for the Next Wave of AI Innovation – Nicolas Leighton

The buzz around artificial intelligence is undeniable. It's revolutionizing industries, automating tasks and promising unprecedented growth. As an entrepreneur, you've...

Glen Talloch Scotch Whisky enters Nigerian market with Sanwo-Olu Partnership

Top Scotch whisky, Glen Talloch, made an exciting entry into the Nigerian market, garnering impressive attention and buzz...

Flutterwave advocates stronger intra Africa trade

Africa cannot afford to remain fragmented in the face of global trade uncertainties, declared Flutterwave Founder and CEO...