SMEDAN Launches N500m Interest-Free Fund To Boost Small Businesses

The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has unveiled a N500 million zero-interest revolving fund to improve access to finance for Micro, Small and Medium Enterprises (MSMEs), with the agency adopting an association-based lending model to strengthen accountability, improve loan recovery and expand financial inclusion.
SMEDAN director-general, Charles Odii, announced the initiative during an engagement with the Commerce and Industry Correspondents Association of Nigeria (CICAN) in Abuja as part of activities marking the 2026 World MSME Day.
The initiative, known as the Grow Fund for Small Businesses in Nigeria, will be disbursed through cooperatives, trad...