SMEDAN Addresses Shortage of Investment-Ready Startups

The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has identified the scarcity of investment-ready startups as a significant barrier to enterprise financing in Nigeria. Despite increased funding access for innovative businesses, many startups lack the necessary structure, scalability, and business models to attract investors.

Onesi-Lawani, representing SMEDAN's Director-General Charles Odii, made this announcement during the opening of a two-week Training of Trainers program under the Abuja Centre for Entrepreneurship Project. The initiative aims to produce certified trainers who will equip young Nigerians with skills to establish and grow investment-ready businesses.

SMEDAN's Head of Corporate Affairs, Moshood Lawal, stated that the program received over 1,100 applications, with 30 participants selected after a rigorous interview process. Onesi-Lawani emphasized that while funding opportunities exist, the challenge lies in the limited number of businesses meeting investor expectations.

Key sectors identified for growth include fintech, agritech, healthtech, logistics, and the creative economy.