The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) is dedicated to bridging the gap between Nigerian and U.S. small businesses by fully utilizing the African Growth and Opportunity Act (AGOA). This initiative aims to drive growth, industrialization, job creation, and enhance production quality for Nigerian SMEs.
AGOA, enacted by President Bill Clinton in May 2000, is a U.S. trade preference program offering eligible sub-Saharan African countries duty-free access to U.S. markets.
During an AGOA forum in Washington, DC, SMEDAN’s Director General, Charles Odii, introduced the ‘GROW Nigerian’ strategic blueprint. This plan is designed to assist small businesses through guidance, resources, opportunities, and workforce development.
In a statement from Peter Adeshina, the SA Media to the Director General of SMEDAN, Odii highlighted initiatives aimed at raising awareness of export opportunities like AGOA among Nigerian small businesses, with a focus on key sectors such as textiles and agriculture.
At the forum, SMEDAN hosted a side event, the Government to Business (G2B) and Business to Business (B2B) meeting. This gathering brought together government bodies such as the Nigerian Export Promotion Council (NEPC), entrepreneurs, investors, and industry experts to explore investment and funding opportunities, share knowledge, and discuss potential collaborations.
Odii also discussed SMEDAN’s efforts to improve local production quality by securing affordable financing, offering discounted access to tools and infrastructure like power through the ongoing renovation of its Industrial Development Centers (IDCs), promoting local resource potential with initiatives such as ‘One Local Government One Product,’ and enhancing productivity through programs like the National Business Skills Development Initiative.
On the forum’s final day, Odii, along with the Minister of Industry, Trade, and Investment, Dr. Doris Uzoka-Anite, participated in the U.S.-Nigeria Executive Roundtable. Held at the U.S. Chamber of Commerce in collaboration with the American Business Council, this event focused on actionable strategies to strengthen economic ties between Nigeria and the U.S., particularly in fostering a more favorable environment for small business growth.
AGOA, which was extended in 2015 for an additional 10 years through 2025, aims to deepen trade and investment relationships with sub-Saharan Africa, promote economic growth, support regional integration, and facilitate the region’s integration into the global economy.
