{"id":123051,"date":"2025-10-21T15:40:50","date_gmt":"2025-10-21T14:40:50","guid":{"rendered":"https:\/\/pointblanknews.com\/pbn\/?p=123051"},"modified":"2025-10-21T15:40:50","modified_gmt":"2025-10-21T14:40:50","slug":"sec-smedan-unite-to-expand-financing-for-40000-smes","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/news\/sec-smedan-unite-to-expand-financing-for-40000-smes\/","title":{"rendered":"SEC, SMEDAN unite to expand financing for 40,000 SMEs"},"content":{"rendered":"<div style=\"text-align: justify;\">By \u200eDaniel Adaji<\/div>\n<div style=\"text-align: justify;\">\u200e<\/div>\n<div style=\"text-align: justify;\">\u200eThe Securities and Exchange Commission (SEC) and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) are collaborating to boost small and medium-sized enterprises (SMEs) access to finance.<\/div>\n<div style=\"text-align: justify;\">\u200e<\/div>\n<div style=\"text-align: justify;\">\u200e<\/div>\n<div style=\"text-align: justify;\">\u200eUnder the newly signed Memorandum of Understanding (MoU), both agencies aim to provide over 40,000 SMEs with direct access to long-term capital, while indirectly benefiting more than 40 million registered micro, small, and medium enterprises (MSMEs) nationwide.<\/div>\n<div style=\"text-align: justify;\">\u200e<\/div>\n<div style=\"text-align: justify;\">\u200eThe initiative seeks to reduce dependence on costly bank loans, spur job creation, and support Nigeria\u2019s drive toward a $1 trillion economy.<\/div>\n<div style=\"text-align: justify;\">\u200e<\/div>\n<div style=\"text-align: justify;\">\u200eSpeaking at the signing ceremony in Abuja on Thursday, SEC Director-General, Dr. Emomotimi Agama, said the collaboration would deepen SME participation in the capital market and position them for sustainable growth.<\/div>\n<div style=\"text-align: justify;\">\u200e<\/div>\n<div style=\"text-align: justify;\">\u200e\u201cCapital is the bedrock of any company. Today we have about 40 million Small and Medium Enterprises that are duly registered with Small and Medium Enterprises Development Agency of Nigeria and it is important that as a capital market, we are able to find a route for these small and Medium Scale enterprises to be able to raise capital for sustainability,\u201d Agama stated.<\/div>\n<div style=\"text-align: justify;\">\u200e<\/div>\n<div style=\"text-align: justify;\">\u200eHe added that integrating SMEs into the capital market would democratize wealth creation, fast-track development, and expand economic participation. According to him, the effort aligns with President Bola Tinubu\u2019s economic agenda focused on employment, growth, and industrial productivity.<\/div>\n<div style=\"text-align: justify;\">\u200e<\/div>\n<div style=\"text-align: justify;\">\u200eOn his part, SMEDAN Director-General, Mr. Charles Odii, emphasized that the MoU would help small businesses overcome funding bottlenecks.<\/div>\n<div style=\"text-align: justify;\">\u200e<\/div>\n<div style=\"text-align: justify;\">\u200e\u201cCapital in this part of the world is very expensive and scarce,\u201d Odii said. \u201cThrough this collaboration, we are creating another source of financing for our medium-scale businesses. We have set ourselves a target of at least 1,000 SMEs listing on the capital market. This will galvanize growth, create wealth, and reduce unemployment in Nigeria.\u201d<\/div>\n<div style=\"text-align: justify;\">\u200e<\/div>\n<div style=\"text-align: justify;\">\u200eThe agreement will strengthen SMEs\u2019 integration into the formal financial system and help them meet regulatory and governance standards required for capital market participation. It will also enhance their ability to raise funds through equity or debt instruments under SEC supervision.<\/div>\n<div style=\"text-align: justify;\">\u200e<\/div>\n<div style=\"text-align: justify;\">\u200eAs part of implementation, both agencies will roll out training and capacity-building programmes to boost SMEs\u2019 financial literacy and corporate governance readiness. The SEC will contribute to SMEDAN\u2019s five-year strategic framework to promote inclusive financing, while SMEDAN will identify and prepare viable SMEs for listing on recognized exchanges.<\/div>\n<div style=\"text-align: justify;\">\u200e<\/div>\n<div style=\"text-align: justify;\">\u200eThe collaboration will further support debt market participation, enabling creditworthy SMEs to issue debt securities and attract qualified investors. A three-day national SME conference is also planned to engage stakeholders, foster dialogue, and promote policy alignment.<\/div>\n<div style=\"text-align: justify;\">\u200e<\/div>\n<div style=\"text-align: justify;\">\u200eTo ensure effective execution, the MoU provides for a Joint Working Group (JWG) to oversee implementation and data sharing in compliance with the Nigeria Data Protection Act, 2023.<\/div>\n<div style=\"text-align: justify;\">\u200e<\/div>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content --><!-- AddThis Related Posts generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>By \u200eDaniel Adaji \u200e \u200eThe Securities and Exchange Commission (SEC) and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) are collaborating to boost small and medium-sized enterprises (SMEs)&hellip;<!-- AddThis Advanced Settings generic via filter on wp_trim_excerpt --><!-- AddThis Share Buttons generic via filter on wp_trim_excerpt --><!-- AddThis Related Posts generic via filter on wp_trim_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":123057,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-123051","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - 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