Industry
SMEDAN set to disburse N500m interest free loan to MSMEs
The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) is set to disburse N500 million zero interest Grow Fund for Micro Small and Medium Enterprises MSMEs in Nigeria.
The Director General, SMEDAN, Charles Odii disclosed this while briefing the press as part of activities by SMEDAN to mark the 2026 World MSME Day in Abuja, stating that the revolving loan will be disbursed through cooperatives, trade unions, business member organisations and associations rather than to individual entrepreneurs.
He said: “The association-based model will improve accountability, loan recovery and ensure the funds reach genuine business owners, this financing was designed to address one of the biggest challenges confronting small businesses in Nigeria which is access to capital
“We visited traders at one of the markets to engage directly with them because it is not enough to sit in offices and make policies without understanding their realities. Many of the challenges they raised border on financing, which is why we are launching the Grow Fund for Small Businesses in Nigeria.
“Beneficiaries will also be able to access the zero-interest funding to boost working capital, procure workspaces and acquire tools required for their businesses, we are not giving the money to individuals, We are giving it to associations that understand their members and can manage the funds responsibly”.
He added that repayment terms would be agreed with each association as flexible arrangement would allow the revolving fund to benefit more entrepreneurs, again this initial N500 million would be expanded through partnerships with state governments, development partners and other institutions willing to provide matching funds. He said the agency is reviewing the draft National MSME Policy before forwarding it to President Bola Tinubu for approval.
Industry
Textile importation ban puts N10 trillion industry in danger
• CPPE urges competitiveness reforms over import restrictions
The resolution by the Senate to ban outright importation of textile will put an industry valued at N10 trillion annually on the brink of collapse, including the livelihoods of an estimated 10 million Nigerians provided by the sector.
This was the submission of the Chief Executive Officer, Center for the Promoton of Private Enterprise (CPPE), Dr. Muda Yusuf, while reacting to the Senate’s resolution calling for a ban on textile fabric imports.
Noting that the proposed measure is unlikely to achieve its intended objectives and could have significant adverse consequences for the Nigerian economy, Yusuf said that instead, the Senate should consider reviving the textile industry, which requires a comprehensive value-chain approach rather than restrictive trade measures. To this end, priority he said, should be given to restoring domestic cotton production, which historically supplied the industry’s raw materials.
In a position paper made available to The Nation, yesterday, the CPPE boss, an economist, argued that while the objective of reviving the country’s textile industry is legitimate and commendable, an outright import prohibition is unlikely to achieve that objective.
Rather than revitalising the textile industry, he further argued, the proposed ban could impose substantial collateral costs on downstream industries, disrupt critical supply chains and jeopardise millions of jobs and livelihoods.
“The proposal reflects a narrow view of the textile industry’s challenges and overlooks the extensive linkages within Nigeria’s textile, garment, fashion, furniture and creative economy value chains. Effective industrial policy should address the underlying constraints to competitiveness rather than merely restrict imports,” Yusuf argued.
According to him, domestic textile manufacturers currently lack the capacity to meet the quantity, quality and diversity of fabrics required by Nigeria’s fashion, garment, interior design, and furniture industries. Even at the peak of the textile industry’s performance, he noted, local mills did not supply the full range of fabrics demanded by the market.
Therefore, he warned, an outright import ban would create supply shortages, increase production costs and weaken downstream industries that generate significantly more employment than textile manufacturing itself.
Further accentuating his position, the policy analyst reckons that a larger ecosystem will be put at risk should the Senate proposal scale through. According to him, the nation’s fashion, garment-making and tailoring industry, is conservatively valued at about ₦10 trillion, and presently provides livelihoods for an estimated 10 million Nigerians, making it one of the country’s most vibrant creative economy sectors.
“Textile fabrics are critical intermediate inputs for this ecosystem. Restricting imports would disrupt production, increase costs, reduce consumer choice and threaten thousands of micro, small and medium enterprises engaged in fashion, tailoring and garment manufacturing.
“The garment industry also generates substantial domestic value addition through design, tailoring, branding, embroidery, merchandising and retailing. In many cases, the local value added exceeds the value of the textile inputs. Public policy should therefore protect this broader value chain.
“Textile fabrics are equally important inputs for Nigeria’s rapidly growing furniture and interior design industry, where they are extensively used in upholstered furniture, office furniture, hotel furnishings and mattresses. The industry is valued at an estimated N7 trillion. A supply disruption would increase production costs and weaken the competitiveness of the sector,” Yusuf warned.
Noting that the real challenge for the industry is competitiveness, arising from the consequence of longstanding structural constraints rather than import competition. These, he listed to include high energy costs, expensive credit, poor infrastructure, logistics bottlenecks, obsolete technology, smuggling, weak access to long-term finance and policy inconsistency.
“Textile manufacturing is one of the most energy-intensive industries globally. Therefore, operating within a high-cost production environment has severely undermined the competitiveness of local manufacturers.
“It is noteworthy that imported textile fabrics already attract combined Import Duty and Import Adjustment Tax (IAT) of between 35 and 45 per cent. Yet these tariff protections have not restored the industry’s competitiveness because the core problem lies in production economics rather than import penetration.
“An import ban proposition addresses the symptom while leaving the underlying causes unresolved. Sustainable industry revival requires lower production costs, improved productivity and stronger enforcement of the existing tariff regime,” he said, adding that insecurity in farming communities, weak productivity, inadequate extension services and poor incentives have severely undermined cotton cultivation.
He further added that textile manufacturers also require access to affordable long-term finance, modern technology, reliable energy and a more competitive operating environment.
To reactivate the sector, Yusuf said that rather than an outright ban being mooted by the Senate, the federal government should adopt some policies that will stimulate the industry.
One of these is the adoption of a strategic government procurement policy which should require the military, paramilitary agencies, schools and other public institutions to prioritise locally produced textiles and garments for their uniforms. Besides, government, he said, should set up a textile competitiveness fund where it can channel part of textile-related import tax revenues into a dedicated fund providing single-digit financing for technology upgrading and industry modernisation.
Other policy consideration Yusuf urged the government to consider include reviving cotton production by supporting cotton farmers through improved seedlings, mechanisation, extension services, security and guaranteed off-take arrangements; strengthening border enforcement to combat smuggling aimed at improving the effectiveness of existing tariff protection and improving industrial competitiveness by reduce energy costs, improve infrastructure, lower financing costs and create a more conducive manufacturing environment.
Industry
Dangote recommits to Nigeria’s full industrialisation
- Unveils new sugar pack sizes
- LCCI lauds Dangote partnership
By Olamide Akintunde
The Pan-African Conglomerate, Dangote Industries Limited (DIL) has reaffirmed its unwavering commitment to driving the industrialization of Nigeria and the African continent at large.
The company then pledged to persist in its transformative efforts and maintain a leadership role in advancing sustainable economic growth across the region. This position was made known by the Group Executive Director, Commercial Operations, Hajiya Fatima Aliko Dangote during the Dangote Special Day at the on-going 2025 Lagos International Trade Fair holding at Tafawa Balewa Square in Lagos.
This is just as the leadership of the Lagos Chamber of Commerce and Industries (LCCI) described Dangote Industries Limited as a worthy partner that has been pivotal to the success of the Chamber over the years.
Hajiya Fatima Aliko Dangote who was represented by the Group Sales and Marketing Director, Dangote Cement Plc., Mrs. Funmi Sanni described industrialization as the most viable path to value addition, economic diversification, and large-scale job creation for the nation’s youth.
While re-echoing the company’s plan to expand its Dangote Petroleum Refinery’s capacity from 650,000 barrel per day to 1.4mn per day by 2028, she stated that the theme of the ongoing trade fair, ” Connecting Businesses, Creating Value” was both timely and highly appropriate.
According to her, it encapsulates the Chamber’s strategic vision of bringing together many stakeholders, manufacturers, suppliers, distributors and consumers in the same location. This singular gesture, she stated, created an avenue for Business-to-Business engagements, Business to Consumer engagements, providing valuable feedback on areas of improvement.
Aliko-Dangote said that the group as Africa’s leading indigenous conglomerate, was connected to several businesses across the world and consistently creating values.
She stated that the Dangote Group was being guided by its investment philosophy that only Africans can develop Africa. “This is why we have invested in many African countries. Recently, we had the historic groundbreaking ceremony of the $2.5 Billion, 3 million Metric Tonne Urea Fertiliser Production Complex, in Gode, Ethiopia.
“This new plant is a partnership between the Dangote Group and Ethiopian Investment Holdings (EIH), the strategic investment arm of the Government of Ethiopia. The project at completion will generate thousands of direct and indirect jobs in the country while at the same time boosting agricultural output,” she said.
Aliko-Dangote disclosed that the group had commenced the expansion of Dangote Cement Plant in Ethiopia with a $400 million investment plan for a second production line at the cement plant. She also added that its 3Mta Côte d’Ivoire grinding plant started operations in the third quarter, marking another major bold step in Dangote Cement’s growth journey, increasing our total installed capacity to 55Mta across Africa.
“This milestone reinforces our commitment to regional self-reliance and strengthens our position as the continent’s leading cement producer. We have started construction of a new 6Mta integrated cement plant in Itori Ogun State, a facility that would be dedicated for export to neighbouring countries,” she stated.
She stated that Dangote Fertiliser Ltd. and Dangote Polypropylene are to be expanded to increase their contribution to the domestic economy. She then affirmed the commitment of Dangote Sugar to ensuring that Nigeria ends the importation of raw sugar into the country by actively intensifying its execution of the Sugar Backward Integration.
“In this regard, it has committed over $700 million in land acquisition, machinery, infrastructure, manpower, community relations, corporate social responsibility (CSR) and other impactful activities.
Highlight of the Special Day was the unveiling of two new categories of Dangote Sugar pack, the 100ml sachet and 25kg bag by the Chief Executive Officer of Dangote Sugar Refinery Plc, Mr Ravindra Singhvi.
He acknowledged the immense growth of the Dangote Group companies, highlighting its position as the largest in Africa and a significant player globally. Looking to the future, he announced ambitious plans for two major projects, which would focus on producing sugar from Nigeria, by Nigerians, and for Nigerians.
According to him, these initiatives are set to significantly enhance the company’s capabilities and better meet market demands. He said: “Currently, the company offers 50 kg bags—both fortified and unfortified—for various consumer segments. In response to changing consumer preferences and market dynamics, two new packages are being launched: 25 kg bags and 100-gram bags.”
In his remark at the ceremony, Mr. Gabriel Idahosa, President, LCCI, said the Dangote Group has been playing a visionary role and according to him the role of visionary industrial leadership was crucial to navigate the complexities of a rapidly evolving global economy.
He stated that the leadership of Dangote Group had demonstrated industrial prowess by investing where others were hesitant while expressing the appreciation of the Chamber for the collaboration and support the Company has extended to te Chamber over the years.
Idahosa described the birth of Dangote Refinery as a clear demonstration of an industrialist utterly passionate about the country and willing to support various areas of impact. “With the Dangote Refinery having a confirmed capacity to meet the local demand in Nigeria, the Nigerian economic outlook looks bright.
“The LCCI remained committed to fostering partnerships, promoting policy advocacy, and creating platforms that enabled businesses and industries to thrive,” he said.
Industry
Sachet alcohol ban could cost N1.9tn, 5m jobs, MAN warns
• Urges FG reversal
By Grace Edet
The Manufacturers Association of Nigeria (MAN) has warned that the planned ban on alcoholic beverages in sachets and small PET bottles could wipe N1.9 trillion in investments and cost over 500,000 direct jobs and five million indirect jobs.
MAN urged the Federal Government and NAFDAC to reverse the directive before it takes effect on 31 December 2025.
Director-General of MAN, Segun Ajayi-Kadir, described the Senate-backed ban, reportedly passed on 6 November 2025, as “terribly unfair” and at odds with previous stakeholder consultations and policy validations.
“This unexpected development contradicts all stakeholders’ efforts on the matter and is completely at variance with the subsisting position of the House of Representatives,” Ajayi-Kadir said.
He stressed that the Ministry of Health had already granted a one-year extension, during which the draft National Alcohol Policy was considered and validated by stakeholders, including NAFDAC.
Ajayi-Kadir criticised the Senate for bypassing structured consultations.
“Stakeholders’ consultation, either through a public hearing or focused meetings with relevant industry players, should have been called by the relevant Senate Committee before a ban was ordered,” he said.
According to the MAN DG, the National Alcohol Policy, validated in October 2025 by a multi-stakeholder committee, recommended tighter enforcement, establishment of licensed liquor outlets in LGAs, increased monitoring by NAFDAC and FCCPC, and public education campaigns against underage consumption, rather than an outright ban.
“We initiated campaigns on responsible alcohol consumption, spending over a billion Naira in media outreach across the federation, which have been very impactful in discouraging underage abuse,” he added.
Warning of severe economic fallout, Ajayi-Kadir said the ban would reduce manufacturing capacity utilisation, threaten indigenous businesses, and create a surge of illicit and unregulated alcohol in the market.
“A ban would open the market to foreign brands, mostly smuggled, and possibly unwholesome. This will be at the expense of domestic producers and result in loss of government revenue,” he said.
The MAN DG called on the Senate to rescind the ban and urged the Federal Government to expedite the endorsement and implementation of the validated National Alcohol Policy and its multi-sectoral framework, which he said would render the ban unnecessary.
“We should be mindful of the economic implications of unnecessary, sudden regulatory shifts that could affect legitimate manufacturers, thousands of employees, and informal value-chain operators across the country,” Ajayi-Kadir concluded, reiterating MAN’s commitment to responsible alcohol production, safety compliance, and public education campaigns.
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