Kaduna, SMEDAN Launch ₦1 Billion Fund to Power Small Business Growth

In a significant boost to small business development, the Kaduna State Government and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) have signed a ₦1 billion Memorandum of Understanding (MoU) to support the growth of Micro, Small, and Medium Enterprises (MSMEs) across the state.

The agreement, jointly signed by the Governor of Kaduna State and SMEDAN’s Director-General, sets up a Matching Fund, with both parties contributing ₦500 million each. The fund is specifically targeted at Nano, Micro, and Small Enterprises (NMSEs), aiming to expand their access to affordable financing for working capital and asset acquisition.

Describing the partnership as a “game-changer,” the Kaduna State Governor noted that it represents a concrete step toward tackling poverty, unemployment, and insecurity by empowering entrepreneurs across both urban and rural communities. He expressed optimism about scaling the intervention, pledging to increase the state’s financial contribution once the fund begins to deliver tangible impact.

The SMEDAN Director-General praised Kaduna’s strong commitment to entrepreneurship and human capital development. He revealed that Kaduna currently leads Nigeria in MSME registration on SMEDAN’s national dashboard, signaling the state’s readiness to embrace enterprise-led economic transformation.

He stated that the fund will play a vital role in addressing the long-standing financial challenges faced by small business owners, thereby encouraging innovation, boosting productivity, and driving inclusive development.

This collaboration aims to not only remove financial barriers but also to create sustainable jobs, stimulate economic activity, and strengthen the MSME ecosystem. Both partners affirmed that the initiative is a shared commitment to revitalize Kaduna’s economy and improve livelihoods through strategic entrepreneurship support.