Call for Application: SMEDAN/NEDEP Job Creation Opportunity for Nigerians – Apply Now

Micro, Small, and Medium Enterprises (MSMEs) constitute a vital sector of Nigeria’s economy, contributing significantly to employment and business activities. Despite its potential, the MSME sector faces challenges such as limited access to affordable finance, inadequate infrastructure, and a lack of business development services. Recognizing these hurdles, the National Enterprise Development Programme (NEDEP) was initiated by the Honourable Minister of Industry, Trade and Investment, Mr. Olusegun Aganga, CON.

Challenges Facing MSMEs:
NEDEP aims to address key challenges inhibiting the potential growth of MSMEs in Nigeria, including low access to affordable finance, poor access to Business Development Services (BDS), and high business operating costs. A recent survey highlighted that 73.24% of MSME operators prioritize financial assistance, with only 4.2% accessing loans from financial institutions.

NEDEP Components:
The program focuses on three main components: Skills Acquisition, Entrepreneurship Training/Business Development Service (BDS), and Access to Finance. The entrepreneurship training and BDS are implemented under the One Local Government One Product (OLOP) platform, while the Bank of Industry (BOI) manages the access to finance component, and the Industrial Training Fund (ITF) oversees skills acquisition.

Benefits/Potentials of NEDEP:
NEDEP aims to generate an estimated 5.0 million direct and indirect jobs between 2013 and 2015. The program seeks to revitalize rural economies, create wealth, alleviate poverty, and promote sustainable MSMEs across the 774 Local Government Areas (LGAs). Additional benefits include the entrenchment of entrepreneurial culture, industrialization of rural areas, increased MSMEs contribution to GDP, and the elimination of social vices.

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Attributes of NEDEP:
NEDEP involves the collaboration of three key agencies (SMEDAN, ITF, BOI), the formation and registration of cooperative societies, the establishment of National and State Councils on MSMEs, and the implementation of the One Local Government One Product (OLOP) program. The restructuring of implementing agencies, development of one product for export in each state, upgrading of Industrial Development Centres (IDCs), and provision of common facilities and services are among its key attributes.

Implementation Strategies:
The implementation of NEDEP includes sensitization and needs assessment, selection of products, baseline surveys, and value chain analysis. It also involves the formation and registration of cooperative societies, development of business plans, assessment of business plans with subsequent provision of finance, access to markets, equipment/machines, entrepreneurship training, vocational skills training, delivery of BDS, and a continuous engagement, monitoring, and reporting system.

Current Activity:
The current phase involves the formation and registration of cooperative societies and the collection of business plans from cooperative societies nationwide.

For those interested in participating and contributing to the growth of MSMEs in Nigeria, the SMEDAN/NEDEP initiative presents a unique opportunity. Don’t miss the chance to be part of a transformative journey towards economic development and job creation.

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