The Director General of Small and Medium Enterprises Development Agency (SMEDAN), Charles Odii has worked to secure investments and expand market opportunities for Nigerian small and medium enterprises (SMEs) at the African Growth and Opportunity Act (AGOA) forum held last week in Washington, DC.
During his presentation at the Forum, Odii outlined the ‘GROW Nigerian’ strategic blueprint, through which SMEDAN seeks to support small businesses with guidance, resources, opportunities, and workforce development.
He emphasized the agency’s efforts to enhance local production quality by negotiating affordable financing, providing discounted access to tools and infrastructure such as power through ongoing revamp of its Industrial Development Centers (IDCs), promoting local resource potential through initiatives like ‘One Local Government One Product,’ and improving productivity through programs like the National Business Skills Development Initiative.
According to a statement by SMEDAN media unit, Odii also highlighted the Agency ‘s initiatives to increase awareness of export opportunities such as AGOA among Nigerian small businesses, with targeted support for key sectors like textiles and agriculture.
He explained that SMEDAN is collaborating with organizations such as NAFDAC, SON, and NEPC to ensure compliance with safety and regulatory standards and streamline the export process.
“We are diligently working to eliminate inefficiencies and barriers that hinder productivity in Nigeria’s SME sector,” Odii stated. “As the Secretary of the National Council on SMEs, chaired by the Vice President and led at the state level by all state governors, we are collaborating with other government agencies involved in taxation, health and safety regulations, land access, and financing to create a conducive environment for growth.”
He further noted efforts to secure counterpart funding agreements with both private and public organizations to increase affordable financing for small businesses. This includes investments in training, business clinics, and the development of work hubs for high-growth sectors.
Odii underscored the need for ongoing investment and collaboration from both government and private sector entities in the U.S. to ensure the success of these initiatives. He assured potential investors of Nigeria’s significant economic potential and the current administration’s commitment to protecting private investments and ensuring market stability.
The forum was convened to review the impact of the duty-free legislation and discuss necessary adjustments ahead of its renewal next year.
Signed into law by President Bill Clinton in May 2000, AGOA is a U.S. trade preference program that grants eligible sub-Saharan African countries duty-free access to U.S. markets. The legislation, extended in 2015 for an additional 10 years through 2025, seeks 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.
The conference saw participation from senior U.S. government officials, including representatives from the White House and Congress, as well as trade ministries from African countries, investors, business leaders, labor unions, and small business partners.
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At the forum, the Odii-led SMEDAN, which has focused on boosting Nigeria’s low export figures through comprehensive support for SMEs, especially in the non-oil sector, organized a side event. The Government to Business (G2B) and Business to Business (B2B) Meeting brought together government agencies 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 said the goal of the agency was to bridge the gap between Nigerian and U.S. small businesses, ensuring that AGOA’s opportunities are fully leveraged to foster growth, industrialization, job creation, and improved production quality for Nigerian SMEs.
On the final day of the forum, Odii joined Dr. Doris Uzoka-Anite, the Minister of Industry, Trade, and Investment, at the U.S.-Nigeria Executive Roundtable. This event, held at the U.S. Chamber of Commerce’s U.S.-Africa Business Center in collaboration with the American Business Council, focused on actionable strategies to strengthen economic partnerships between Nigeria and the U.S., particularly in creating a more favorable environment for the growth of small businesses.
