SMEDAN Targets 100 Millionaire Entrepreneursfrom SME Funding Initiative

■Odii says initiative will equip entrepreneurs with skills, capital to scale businesses, create jobs

James Emejo in Abuja

The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), said it aims to create 100 millionaire entrepreneurs through a combination of business development training, financial grants and market access initiatives at its forthcoming GROW Nigerian Conference 2026.
The initiative, which will feature a ₦100 million pitch competition, is designed to address some of the major constraints confronting small businesses, particularly limited access to finance, inadequate business management skills and difficulties accessing markets.
SMEDAN Director General, Mr. Charles Odii, said the agency was seeking to move entrepreneurs beyond skills acquisition to building commercially viable businesses capable of generating wealth, sustaining livelihoods and creating employment.
The conference, scheduled for November 8 to 10 in Lagos, will bring together entrepreneurs, investors, policymakers, financial institutions and regulatory agencies.
Speaking ahead of the event, Odii said the 100-millionaire ambition was anchored on the understanding that entrepreneurial potential alone was insufficient to build successful businesses without access to the necessary tools, capital and market opportunities.
He explained that while some aspiring entrepreneurs possessed relevant skills, their inability to afford equipment and other start-up requirements prevented them from translating those skills into income-generating ventures.
Similarly, he said existing businesses required improved knowledge of pricing, customer acquisition and financial management to deploy capital effectively and achieve sustainable growth.
He said, “Our ambition to create 100 millionaires brings these needs together. We want entrepreneurs to leave the conference with useful skills, financial support and connections that help them build businesses capable of sustaining livelihoods and employing others.”
The three-day conference, themed, “GROW Nigerian: The Next Frontier for Innovation, Policy and Market Access”, will combine practical masterclasses with funding opportunities, with selected participants expected to receive financial grants upon completion of the sessions.
The Zero to 100 Pitch Competition, which carries a ₦100 million prize pool, will provide another funding window for promising enterprises, with prize disbursements scheduled for the Lagos conference and a separate event in Northern Nigeria.
The final pitch presentations and prize awards will take place on November 10.
According to a statement, the programme will also feature a business clinic where regulatory and business support institutions will provide direct assistance to entrepreneurs on business registration, compliance requirements and other operational challenges.
A dedicated NAFDAC Summit on November 9 will bring together the agency’s Director General, Prof. Mojisola Adeyeye, and SMEDAN leadership with business owners and SME representative groups to examine regulatory bottlenecks and possible solutions.
NAFDAC will also demonstrate its NAPAMS platform, providing practical guidance on its use and responding to questions from participating businesses.
The conference will feature the Managing Director of the Bank of Industry (BoI), Dr. Olasupo Olusi; Managing Director of the Development Bank of Nigeria, Dr. Tony Okpanachi; and Managing Director of NEXIM Bank, Abubakar A. Bello.
Also expected are the Director General of NAFDAC, Adeyeye; Registrar-General of the Corporate Affairs Commission, Hussaini Ishaq Magaji, SAN; and Managing Director of the Nigeria Social Insurance Trust Fund, Oluwaseun Mayomi Faleye.
Group Chief Executive of Oando Plc, Wale Tinubu, will deliver the keynote address, drawing on his experience in building and expanding a Nigerian enterprise.
Other confirmed facilitators include Chude Jideonwo, co-founder of Red Africa and Joy Inc.; Funke Bucknor-Obruthe, founder of Zapphaire Events; Teniola Chigbata, popularly known as TennyCoco; Nelly Agbogu, founder of NaijaBrandChick; and Anita Natacha Akide, known as Symply Tacha.
Their sessions will focus on event management, beauty and makeup artistry, building beauty businesses and deploying artificial intelligence for marketing, among other practical areas of enterprise development.
The programme will also incorporate a film screening and talent development component, with award-winning filmmaker, Tola Odunsi, scheduled to screen his latest production, 19, and conduct live auditions for a film commissioned by SMEDAN.
Meanwhile, the Nigeria First Fair, which will run throughout the three days, is expected to provide participating Nigerian businesses with direct access to consumers, corporate buyers and retailers.
The marketplace will enable small businesses to showcase locally made products, attract customers, explore bulk orders and establish commercial relationships ahead of the festive season.
SMEDAN said the fair would also offer Lagos residents an opportunity to purchase directly from local enterprises, arguing that increased patronage of Nigerian products could strengthen the revenue base of small businesses.
The conference will open on November 8 with the Nigeria First Fair and a Fashion and Food Showcase, while the formal opening ceremony is scheduled for November 9. Lagos State Governor, Babajide Sanwo-Olu, is expected to attend.
The conference is being organised in partnership with the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH through its Sustainable Economic Development Cluster, with support from the German Government and co-funding from Denmark, Switzerland and the European Union.
MTN and the Korea International Development Agency (KOICA) are also partners, while the Lagos State Government is the host and Ecobank the partner host.