The Securities and Exchange Commission (SEC) is taking steps to improve access to market-based financing for Nigeria’s Small and Medium Enterprises (SMEs).
Speaking during a meeting with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) on Tuesday in Abuja, SEC Director-General Dr. Emomotimi Agama said the move would be driven by the commission’s newly established Office of Small Business Advocacy (OSBA).
Agama explained that SEC plans to collaborate with SMEDAN on a joint nationwide sensitisation campaign themed ‘Financing SMEs through the Capital Market’. The OSBA, he said, would act as the main liaison between SEC and SMEs interested in raising capital through securities issuance.
According to Agama, SMEs account for over 90% of businesses in Nigeria and play a vital role in employment generation and GDP contribution.
"Despite their importance, most SMEs face significant barriers in accessing long-term, affordable financing. SEC, through the OSBA, is actively working to broaden access to market-based financing instruments for SMEs.
"SMEDAN is a statutory stakeholder in the Micro Small and Medium Enterprises space with deep knowledge, nationwide networks, and relevant data infrastructure to support SME development.
"A collaborative framework between SEC and SMEDAN will foster synergies for policy innovation, capacity building, and SME investment readiness.
"We also hope to design and deliver training programmes for SMEs on capital market funding opportunities, governance, and compliance as well as co-host a National SME Capital Market Summit in Q3 or Q4 to showcase financing opportunities for SMEs," Agama said.
In his remarks, SMEDAN Director-General Mr. Charles Odii welcomed the partnership, describing it as a potential game-changer for the country’s SME sector.
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