NITDA collaborates with SMEDAN to boost SMEs in Nigeria

The Small and Medium Enterprises (SMEs) sector in Nigeria, the National Information Technology Development Agency (NITDA) and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) have announced a strategic collaboration aimed at creating a comprehensive database for SMEs.

According to Mr. Kashifu Inuwa, the Director-General of NITDA, the partnership was unveiled during a courtesy visit by Mr. Charles Odii, the Director-General of SMEDAN, to NITDA’s headquarters in Abuja. The collaboration seeks to address infrastructural and human capital development challenges facing SMEs in Nigeria, ultimately facilitating informed decision-making processes.

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Highlighting the significant role of SMEs in Nigeria’s economy, Inuwa emphasized that these businesses contribute about 50 percent to the country’s Gross Domestic Product (GDP) and provide employment to approximately 70 million people. The collaborative efforts between NITDA and SMEDAN will primarily focus on enhancing infrastructure, promoting digital literacy, and other initiatives to compile a database reflecting real-time occurrences, thus enabling targeted interventions.

Moreover, the collaboration aligns with the objectives outlined in the NITDA Strategic Roadmap and Action Plan, aiming to accelerate digital literacy among SMEs to drive productivity and innovation. Inuwa emphasized the importance of digital literacy, noting its potential to revolutionize traditional business practices and empower entrepreneurs to access markets digitally.

In addressing cybersecurity concerns, Inuwa revealed plans to provide affordable and indigenous cybersecurity solutions tailored for SMEs, thereby fostering digital trust and resilience within the sector.

Echoing the sentiment, Mr. Charles Odii expressed SMEDAN’s commitment to collaborating with NITDA to ensure that SMEs benefit from global best practices and initiatives such as the National Digital Literacy Framework (NDLF). He emphasized the importance of aligning SMEDAN’s robust SME database framework with NITDA’s standards to streamline data management and registration processes for entrepreneurs.

Furthermore, Odii highlighted the importance of leveraging the Start-up Act to incentivize innovation-driven enterprises and promote their integration into the formal economy. He called for joint efforts to sensitize SMEs, especially startups, about the opportunities available under the Start-up Act and to encourage their participation in the database registration process.

The collaboration between NITDA and SMEDAN signifies a significant step towards fostering a conducive environment for SMEs to thrive in Nigeria’s digital economy. By addressing critical challenges and leveraging digital innovations, the partnership aims to empower SMEs, drive economic growth, and create sustainable employment opportunities across the country.