The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), has flagged off the distribution of its Conditional Grant Scheme (CGS) for about 10,400 micro enterprises, in the country.
At the event in Abuja on Friday, Director General of SMEDAN, Dr. Dikko Umaru Radda, said the CGS initiative seeks to promote the activities of micro-enterprises through providing them with entrepreneurship training, business name registration, micro insurance, a financial grant of N50,000, and the delivery of post-intervention support services, in a bid to formalize the informal sector and make them easily targeted for government intervention. According to him, the justification for a special entrepreneurship/vocational development intervention for the informal sector is based on the need to industrialize the nation, develop the rural economy, stem youth restiveness and unemployment, while also creating the platform for sustainable economic growth and development in Nigeria. Radda disclosed that the Scheme is scheduled to take place in Abia, Kaduna, FCT, Yobe, Ekiti, and Delta States for this year.
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