The Small and Medium Enterprises Development Agency of Nigeria has announced an expanded programme of support for micro, small, and medium enterprises at the start of 2026, strengthening government efforts to stabilise and grow the MSME ecosystem nationwide. The renewed push comes as small businesses adjust to policy changes while seeking improved access to finance, formalisation, and sustainable growth opportunities.
According to the agency, the enhanced strategy is designed to help MSMEs stabilise operations and build resilience in the new year. A key component of the plan is the registration of more than 250,000 new businesses in early 2026, aimed at encouraging formalisation and enabling enterprises to access benefits linked to official recognition, including funding, training, and government-backed support programmes.
SMEDAN is also deepening collaboration with financial institutions such as the Bank of Industry to improve access to affordable credit for small businesses. These partnerships are expected to provide single-digit interest loans to eligible MSMEs, addressing persistent financing gaps that constrain expansion, working capital, and productivity across the sector.
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In addition, the agency plans to roll out capacity-building programmes focused on business management, digital skills, and market access. These initiatives are designed to equip entrepreneurs with practical tools to compete effectively and scale in a challenging business environment.
With this multi-pronged approach, SMEDAN is positioning itself as a key driver of MSME growth in 2026, combining formalisation, financing, and skills development to support business resilience and inclusive economic development.
