In a rapidly evolving business landscape, the role of small and medium-sized enterprises (SMEs) is more crucial than ever. Charles Odii, Director General of the Small and Medium Enterprise Development Agency of Nigeria (SMEDAN), is at the forefront of a transformative vision to leverage data and technology to breathe new life into the country’s SME sector. Under Odii’s leadership, SMEDAN aims to foster job creation and economic growth by redefining how small businesses operate and thrive in Nigeria.
Charles Odii is a renowned entrepreneurship development expert and small business advocate who has dedicated his career to supporting SMEs. Before he was appointed Director General of SMEDAN, Odii served as the Chief Operating Officer of Red Media Africa and founded SME100 Africa in 2014, demonstrating his commitment to empowering small businesses. As the head of SMEDAN, Odii’s primary goal is to reposition the SME sector by focusing on collaboration, innovation, and data-driven strategies.
One of the core tenets of Odii’s strategy is fostering collaboration between the private sector, government, and international development institutions. By working together, these entities can address the challenges faced by SMEs, which are the backbone of Nigeria’s economy. Odii emphasizes the importance of collaborative efforts in light of recent challenges, such as the COVID-19 pandemic and environmental disasters, which have resulted in the loss of millions of small businesses.
The formation of the National Council of SMEs, chaired by Vice President Kashim Shettima, reflects this collaborative approach. The council acts as a central hub for business owners seeking support and resolution for challenges they face. This structure ensures that issues are addressed efficiently, with input from both state and national levels, strengthening the ecosystem for entrepreneurs across the country.
In his role, Odii is keenly aware of the need for innovation in supporting SMEs. He is actively pursuing collaborations with organizations like Neopost to address logistical challenges faced by small businesses. For instance, Odii points out that shipping costs can be a significant burden on businesses, sometimes exceeding the cost of goods themselves. By seeking partnerships that offer discounted fees and innovative solutions, SMEDAN aims to alleviate these pressures and create an environment conducive to growth.
Odii’s vision for SMEDAN is encapsulated in the acronym G-R-O-W, which stands for Guidance, Resources, Opportunities, and Workforce support. He believes that with the right support, nano businesses can transform into micro, small, medium, and eventually large enterprises. This holistic approach ensures that entrepreneurs have access to the necessary guidance, resources, and opportunities to thrive.
A critical aspect of SMEDAN’s strategy under Odii’s leadership is the emphasis on data-driven decision-making. By analyzing data from the MSME ecosystem, SMEDAN has identified eight priority sectors with significant growth potential. Among these, the agricultural food value chain and the leather, garment, and textile sector stand out.
In the agricultural sector, SMEDAN’s “Grow Nigeria” initiative aims to support smallholder farmers by providing them with the best technology and global practices to enhance yield and improve the market value chain. Similarly, the “Wear Nigeria” initiative focuses on the garment and textile industry, encouraging the production and consumption of locally made products. This sector is particularly close to Odii’s heart, as his first business venture was in fashion.
Recognizing the financial challenges faced by SMEs, Odii applauds President Bola Ahmed Tinubu’s initiative to allocate 50 billion Naira to the MSME ecosystem. This fund is designed to provide non-repayable grants to approximately one million nano businesses, offering them a crucial financial boost. He stated that even a modest grant of 50,000 Naira can significantly impact small businesses, representing a substantial portion of their monthly profits.
Charles Odii’s leadership as Director General of SMEDAN is rewriting the story of SMEs in Nigeria. By harnessing the power of data, technology, and strategic partnerships, he is poised to unleash the untapped potential of the SME sector, sparking job creation and economic vitality. With a bold focus on innovation and targeted support, Odii is charting a course for a future where small businesses flourish like never before. As the SME landscape transforms, Odii’s visionary approach promises to be the catalyst for a more prosperous and resilient Nigerian economy.
