Business

SMEDAN supports 60 BMOs, NGOs with N500,000 grants in Kaduna

Published

4 years ago

October 12, 2021

The Small and Medium Enterprises Development Agency (SMEDAN) on Tuesday in Kaduna supported 60 Business Membership Organisations (BMOs) and Non-Governmental Organisations (NGOs) with N500,000 grants each.

The Director-General (DG) of SMEDAN, Dr. Dikko Radda, said the grant was to support the growth of Micro, Small and Medium Enterprises (MSMEs) through BMOs, NGOs and trade associations by strengthening their capacities.

The DG, represented by SMEDAN North West Zonal Coordinator, Alhaji Ahmed Madaki, explained that strengthening the capacities of MSMEs in different sectors of the economy through the BMOs and NGOs would reduce business mortality, improve living standards and reduce poverty.

The DG noted that in recent past, over 60 BMOs, NGOs and trade associations with about 600 members had benefited from the programme, which had the objective to enhance their governance structure and general financial management.

“It is also aimed at financial independence of the BMOs and NGOs, with strong resource base for sustainability and effective succession plan.

“The agency is injecting innovative ideas to transform the MSMEs through tailored made programmes designed to combat the alarming rate of unemployment among Nigerians and deal with the negative effects of COVID-19 pandemic,” he said.

Earlier, the Manager, Kaduna Office of SMEDAN, Alhaji Badamasi Barau, said growth and grant strategy being one of the policies of the agency served as multiplier means to people and organizations with larger numbers of membership.

“Calling on them to come and we develop their capacities and also give them grants for their businesses is one of our commitments.

“The grants for NGOs who are non-profit making organizations, will enable them make peoples businesses better”, he said.

One of the BMOs and a beneficiary of the grant, Aminu Lere, who represented the Kaduna Chambers of Commerce, Industries, Mines and Agriculture, said the grants would be shared judiciously among the selected MSMEs under their chamber.

“We will share the money to the MSMEs who we know need the grants more, even though some of them are not here at the capacity building, we will go back to the chamber and do the needful.

“As a chamber, we follow up and see progress made by the MSMEs under us, we have a membership of over 1000 businesses, the grant is a step forward in addressing some of the challenges faced by MSMEs, “Lere said

Also, Hajiya Kaltume Kabir, representative of an NGO, Annihilation Poverty for Women and Children Foundation, said the grant would go a long way in assisting their programmes.

“Initially, we funded our programmes with our personal incomes, this grant will enable us enhance the business prospects of the category of business owners we will reach out to,” she said.

It will be recalled that, reports that first phase of the programme took place in Lagos State on Sept. 28 and 30

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Business

FG, Investonaire Academy Unveil National Programme to Equip 100,000 Youths with Financial Skills, Digital Wealth Tools

Published

5 days ago

November 25, 2025

The Gleamer

By Joel Ajayi

The Federal Government, in collaboration with Investonaire Academy, has unveiled a nationwide financial literacy and wealth-building programme targeting more than 100,000 young Nigerians. The initiative is designed to equip participants with practical skills in budgeting, saving, investing, asset building, and long-term financial planning, positioning them for sustainable prosperity in a rapidly evolving economy.

Launched on Tuesday in Abuja, the Honourable Minister of Youth Development, Comrade Ayodele Olawande, described financial literacy as a necessary survival tool for young people confronting today’s economic realities.

He noted that the initiative represents the foundation of a broader vision expected to extend beyond Nigeria to other African nations and global markets.

Reaffirming the Federal Government’s commitment to supporting over 4,000 corps members annually, the Minister said the programme will provide platforms, resources, and skills needed for both job creation and employability.

“The young people who understand money — how to save, invest, build assets, and manage risk — are the ones who will lead Nigeria into prosperity,” he said.

A major highlight of the launch was the expansion of the Nigeria Youth Academy, a digital platform offering mentorship, training, and startup support. According to the Minister, more than 200 startups will receive empowerment through the Academy’s e-app platform before the end of the year.

He stressed the need for deeper collaboration with private organisations, innovators, and youth-focused groups, noting that government alone cannot drive youth development. He further encouraged young Nigerians to embrace skills acquisition, innovation, and digital enterprise, saying these remain critical to reducing the desire for migration and increasing self-reliance.

Outlining the Ministry’s long-term commitments, Olawande emphasized three priorities: supporting youth innovation, equipping them with growth tools, and safeguarding millions of Nigerian youths under the Ministry’s mandate.

Speaking at the launch, Sebastien Sicre, Chief Operating Officer of Investonaire Academy, said the programme was crafted to revolutionize the way Nigerian youths learn and apply financial knowledge. He highlighted the Academy’s gamified Learning Management System (LMS), which offers interactive learning tools, community forums, and real-time mentorship to make financial education engaging and accessible.

Complementing the digital platform is a new 200-square-metre physical training centre in Abuja, opposite the NNPC Towers, where in-person workshops and mentorship sessions will take place.

The curriculum covers key global asset classes — including equities, commodities, forex, and indices — ensuring participants gain a broad understanding of financial markets.

Sicre added that with Federal Government backing, the programme seeks to unlock new opportunities, strengthen youth participation in the digital economy, and reward outstanding participants through a $1 million funding pool to support new and existing ventures.

International Programme Director of Investonaire Academy, Dr. Enefola Odiba, explained that the initiative aims to bridge long-standing gaps in financial education among Nigerian youths. While schools teach many subjects, he said, essential financial skills are often missing.

“Many people can earn money — earning money can be easy. The real challenge is retaining, managing, and growing that money,” he noted.
Referencing the Central Bank of Nigeria’s definition of financial literacy, Odiba stated that implementation remains a major national challenge. He said the initiative brings together government agencies, youth groups, academic institutions, and private-sector partners to translate strategy into measurable impact.

The programme’s curriculum covers budgeting, saving, investing, and financial planning — areas where many young people struggle. By offering practical training, real-world insights, and guided mentorship, the initiative aims to build a generation of financially empowered youth capable of driving innovation, entrepreneurship, and sustainable economic growth.

With this partnership, the Federal Government and Investonaire Academy share a common goal: to empower young Nigerians with the financial intelligence and digital tools needed to build wealth, grow businesses, and transform the nation’s economic future.

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