18 cooperatives societies across six states in the federation have gotten four Million naira loan each to boost their businesses. This disbursement is under the One Local Government, One Product (OLOP) initiative of the Small and Medium Enterprises Development Agency of the Nigeria(SMEDAN). At the tripartite Memorandum of Agreement (MOA) signing with Disbursement Managers, Microfinance Banks (MFBs) and the cooperatives In Abuja recently, the Director General of SMEDAN Dr Umaru Dikko Radda, said the loan was interest free. They are to pay back the loan after 18 months after a moratorium of Six months. And they are paying only 70% of what we gave them. 30 % is part of government’s efforts to help the small businesses to develop their businesses to a higher capacity. It is part of the governments Initiative through SMEDAN to provide a relieve of 30% of the loan to the beneficiaries.” Radda said.Add a comment
Listen to Dikko Umaru Radda, Director General/CEO of the Office of Small and Medium Enterprise Development Agency of Nigeria and Chief Temitope Ajayi Chairman/CEO Silicon Valley Nigeria Economic Development SV-NED Inc USA this Saturday & Sunday on KDOW 1220 am OR LISTEN “live” via the webAdd a comment
N-SEP is an initiative of SMEDAN - Small and Medium Enterprise Development Agency of Nigeria was established by the SMEDAN Act of 2003 to promote the development of the Micro, Small and Medium Enterprises (MSME) sector of the Nigerian Economy. The Agency positions itself as a "One-Stop-Shop" for Micro, Small and Medium Enterprises Development. Micro Enterprises are included in the clientele of the Agency since they form the bedrock for SMEs and SAGE Nigeria- SAGE-Students for the Advancement of Global of Entrepreneurship is an international programme initiated at the California State University Chico USA. It is currently operating in all the continents of the world. It engages young.