By Daniel Edu

The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) is set to partner Nimbus Media Ltd., to provide N40 million in advertising support to 20 Small and Medium Enterprises (SMEs) owned by women.

In a call for applications unveiled on Tuesday by Nimbus Media, the destination out-of-home-advertising company said that the support was part of the 2023 edition of the Nimbus Aid Project.

Speaking on the partnership, Dr Bunmi Kole-Dawodu, Lagos State Manager, SMEDAN, said that the collaboration with Nimbus was a promising addition to SMEDAN’s plans for the year.

“We aim to significantly extend our impact on women-led enterprises beyond our previous efforts. With this collaboration, we are confident in achieving these objectives.

“In Nigeria, SMEs constitute the backbone of the economy, driving innovation, creating jobs, and fostering economic diversification.

“They contribute 48 per cent of the national GDP, account for 96 per cent of businesses and 84 per cent of employment.

“However, these SMEs, particularly women-led ones, often face challenges that hinder their growth,” he said.

Similarly, Mr Wale Adegoke, CEO of Nimbus Media, noted that the transformative social impact initiative spearheaded by the firm would provide 20 women-led businesses across Nigeria with over N40 million($53,681) worth of advertising on Nimbus screens.

He said that successful applicants would also benefit from various marketing and brand-building support from other project partners.

“The Nimbus Aid Project reflects our commitment to driving positive change in our society. We believe in the power of media to uplift businesses and empower voices that need to be heard.

“By spotlighting women-led businesses through this initiative, we’re not only advancing gender equality but also fueling the engine of economic growth in Nigeria.

“This year, we are grateful for the support of prominent sponsors, including SMEDAN, Lagos State Employment Trust Fund (LSETF),Marketing Edge Magazine, TechCabal and Techpoint Africa.

“We are also grateful to News Central TV, Hervest, FBN Quest, Carpe Diem Solutions and others who share our vision of unlocking economic opportunities through entrepreneurship and gender equality,” he said.

Adegoke said that the Nimbus Aid Project had shown in the past to significantly impact businesses as it had supported 13organisations with N35 million since 2016, out of which 11 are women-led.

The CEO added that the 2023 edition was poised to take the impact further by empowering women-led SMEs and setting the stage for a more inclusive and economically-empowered business landscape