SMEDAN unveils N100m fund for 100 entrepreneurs

The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has announced a plan to create 100 millionaire entrepreneurs through a combination of business training, financial grants, and market access opportunities. This initiative will be unveiled at the GROW Nigerian Conference 2026 in Lagos, aiming to address funding and capacity constraints faced by small businesses in the country.

A key highlight of the conference will be the Zero to 100 Pitch Competition, offering a N100 million prize pool to support promising businesses. SMEDAN's Director-General, Charles Odii, emphasized the importance of bridging the gap between entrepreneurial skills and the financial resources needed to establish and expand viable businesses.

Odii stated that the initiative seeks to empower entrepreneurs with useful skills, financial support, and connections to build sustainable enterprises capable of creating livelihoods and employment opportunities. The conference will also feature the Nigeria First Fair, a marketplace where the public can buy products directly from Nigerian businesses, discover local brands, and establish commercial relationships with entrepreneurs.

SMEDAN aims to connect small businesses with investors, financial institutions, regulators, and potential customers during the event.