In a strategic move towards economic development, the Corporate Affairs Commission (CAC) is set to collaborate with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) to generate 10,000 jobs and pursue various initiatives. The revelation emerged during a meeting between CAC’s Registrar-General, Hussaini Ishaq Magaji, SAN, and SMEDAN’s Director General, Mr. Charles Odii.
During the meeting, Mr. Odii disclosed that a substantial 5-billion-naira loan at a single-digit interest rate has been secured from a prominent Nigerian bank to drive the project. He sought the support and collaboration of CAC to bring this initiative to fruition, with the official launch slated for January 2024.
In response, CAC’s Registrar-General expressed the Commission’s readiness to fully engage in the partnership with SMEDAN. He commended the initiative, deeming it laudable and aligned with President Bola Ahmed Tinubu’s Renewed Hope Agenda.
The collaborative effort aims not only to create employment opportunities but also to enhance manufacturing output and boost export income, thereby catalyzing the growth of Small and Medium Enterprises (SMEs). Dr. Aishatu Kabir of KPMG, accompanying SMEDAN’s Director General on the visit, is expected to play a vital role in facilitating the actualization of this impactful project. The partnership underscores a shared commitment to fostering SME growth and contributing to broader economic advancement.
