The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has announced an expanded programme of support for small businesses as 2026 begins, reinforcing government efforts to strengthen the SME ecosystem nationwide.
The initiative comes at a critical moment for small enterprises adapting to policy shifts and seeking access to finance and formalisation opportunities.
Under the enhanced strategy, SMEDAN plans to register more than 250,000 new businesses early in 2026, a move aimed at encouraging formalisation and unlocking benefits tied to official recognition. The agency says formal registration will help SME owners access funding, training and government-backed support schemes more easily.
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In addition, SMEDAN is intensifying collaboration with financial institutions, including the Bank of Industry, to expand access to credit through single-digit loan facilities targeted at eligible small business operators. The partnerships are expected to bridge longstanding financing gaps that many SMEs face, particularly in scaling operations and meeting working capital needs.
The agency also intends to roll out a series of capacity-building programmes covering business management, digital skills and market access strategies, designed to equip small business owners with tools to grow sustainably in an increasingly competitive market.
With these renewed efforts, SMEDAN is positioning itself as a central pillar of SME support in 2026, offering a combination of formalisation incentives, financial access and skills development that could help small enterprises thrive despite broader economic and policy changes.
SMEs are encouraged to engage with SMEDAN’s platforms to take advantage of the opportunities available.
