SMEDAN urges state govts to key into FG ?50-billion grant for NANO businesses

T The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has called on State Governments to key into the federal government ?50-billion financial capacity-building for small-scale businesses.

The scheme which has covered 14 States in the country was effected in Delta State yesterday where the Director-General of SMEDAN, Mr Charles Odii, addressed pressmen on the need for state governments to key into the initiative.

Each beneficiary is to receive a sum of ?50, 000. “The NANO businesses of SMEDAN,” Odii informed, “are those businesses that have at least three employees with a turnover of less then three million naira.”

According to NAN, some of the beneficiaries confirmed receiving the money while the flag-off ceremony was on in Ogwashi-Uku, the administrative headquarters of Aniocha South Local Government Area.

Odii appealed to state governments as the agency continues to other states to support them with a view to alleviating poverty in the country.