Business & Finance

NEPC and SMEDAN Forge Strategic Partnership to Amplify Nigerian SME Exports

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NEPC and SMEDAN Forge Strategic Partnership to Amplify Nigerian SME Exports

In a significant move to bolster the export capabilities of Small and Medium Enterprises (SMEs) in Nigeria, the Nigerian Export Promotion Council (NEPC) and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) have joined forces. This collaboration aims to streamline trade facilitation, fortify export activities, and propel the country’s economic growth.

During a recent meeting in Abuja, Nonye Ayeni, the Executive Director/CEO of NEPC, underscored the pivotal role of strategic collaboration. Ayeni disclosed NEPC’s introduction of the “Operational Double Your Export” program, designed to elevate both the volume and value of Made-in-Nigeria products.

The program outlines a comprehensive plan that spotlights the development and promotion of 20 key products with global market potential, targeting 15 markets. The objective is to facilitate exports by engaging with companies capable of competing on the global stage.

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Charles Odii, the Director General of SMEDAN, emphasized the critical role of capacity building in the export business, particularly for the 96 percent of businesses classified as Small and Medium Entrepreneurs (SMEs). With a presence in all 36 states, SMEDAN aims to complement NEPC’s efforts by aligning with the One State One Product (OSOP) initiative and proposing a joint capacity-building program.

Odii further advocated for the reduction of trade barriers, the stimulation of market access, and the encouragement of special funding for SMEs by the African Continental Free Trade Area (AfCFTA) to enhance exports within the regional bloc.

This strategic partnership between NEPC and SMEDAN signifies a concerted effort to empower Nigerian SMEs, foster global competitiveness, and navigate the evolving landscape of international trade. As both agencies collaborate to enhance trade facilitation, the “Operational Double Your Export” program emerges as a pivotal initiative poised to propel Nigeria’s economic prowess on the global stage.

Source: Leadership.ng

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