SMEDAN launches D-8 SME centre, targets $500bn
The Small and Medium Enterprises Development Agency (SMEDAN) alongside eight partner countries has launched the D-8 Small and Medium Enterprises (SME Centre) targeted at boosting growth of MSMEs and international trade. The D-8 SME Centre is an initiative of the D-8 Organisation for Economic Cooperation comprising Nigeria, Azerbaijan, Bangladesh, Egypt, Malaysia, Iran Malaysia, Turkiye and […]
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The Small and Medium Enterprises Development Agency (SMEDAN) alongside eight partner countries has launched the D-8 Small and Medium Enterprises (SME Centre) targeted at boosting growth of MSMEs and international trade.
The D-8 SME Centre is an initiative of the D-8 Organisation for Economic Cooperation comprising Nigeria, Azerbaijan, Bangladesh, Egypt, Malaysia, Iran Malaysia, Turkiye and Pakistan.
Speaking at the launch of the event, the Director General of SMEDAN, Dr Charles Odii, said the decision to site the D-8 SME Centre in Nigeria goes beyond the symbolic.
He said the centre “is a clear recognition of the energy, innovation and resilience that define the Nigerian entrepreneurial spirit and endorsement of Nigeria’s growing leadership in championing the cause of small and medium enterprises across the Global South.”
He added that, “The D-8 SME Centre becomes strategic as it serves as a platform to share solutions, harmonise standards, open up markets and leverage collective strength. With a combined population of over 1 billion people and significant trade potential, the D-8 grouping has the power to unlock a new era of South-South cooperation built on enterprise, knowledge and shared prosperity.”
Also speaking, the Secretary General of D-8, Amb. Isiaka Abdulqadir Imam, underscored the role MSMEs play in driving economic growth, adding that the centre is situated to boost regional and oversea trades.
“We as a corporation are targeting huge trade through SME empowerment and our target is $500bn. Last year, we only did $145m which is way lower than our capacity. So, the target in the coming years is $500bn and we will use the center to empower MSMEs and drive international trade,” he said.