Over 2 Million Businesses Die In Nigeria In 5 Years – SMEDAN

The Director General, Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Olawale Fasanya has said that over two million businesses in Nano, Micro, Small and Medium Enterprises (nMSMEs) subsector died between 2017 and 2021 alone, pushing more than six million Nigerians into unemployment market.

He said the death of the businesses was largely caused by insecurity that had denied farmers access to their farms, inadequate access to affordable funds, high cost of doing business, inflation, and lack of access to local, regional and global markets among others.

He made this known at the opening ceremony of cluster empowerment programme on shea butter, organised by the agency in collaboration with the Niger State government, which was held in Minna, the state capital.