Economic experts say access to capital and expansion of funds remain a challenge to small businesses in the country. To overcome this, efforts at facilitating financial access for MSMEs nationwide is being intensified by the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), this is as the agency has secured one billion naira funding agreement for small businesses in Katsina state.
The matching funding agreement with the state kicks-off this quarter with an initial injection of 250 million naira. The deal was reached in Abuja between Governor Dikko Umaru Radda of Katsina state and the Director General of SMEDAN Charles Odii.
A similar agreement had been reached with the Anambra and Enugu state governments, and that of Katsina state is aimed at overhauling the Industrial Development Center (IDC) in Katsina state through discounted access to modern tools and essential infrastructure, including power to enhance local production.
