SMEDAN Targets 100 Millionaire Entrepreneurs Through Grants
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The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) says it is targeting the creation of 100 millionaire entrepreneurs through business training and financial grants to strengthen small businesses and promote economic growth.
The initiative is expected to support enterprise development, stimulate wealth creation and enhance the capacity of small businesses to generate employment.
The programme will feature at the 2026 GROW Nigerian Conference, scheduled to hold from November 8 to 10 at the Ecobank Pan African Centre, Victoria Island, Lagos.
The conference, themed “GROW Nigerian: The Next Frontier for Innovation, Policy and Market Access”, is designed to connect entrepreneurs with the skills, financing, markets and institutional support required to establish and expand sustainable businesses.
SMEDAN Director-General and Chief Executive Officer, Charles Odii, said access to finance must be complemented by practical business knowledge to translate entrepreneurial potential into economic value.
He noted that many Nigerians had the skills to establish businesses but lacked the funds to acquire equipment and other essential resources, while existing enterprises faced challenges in business management, pricing and customer acquisition.
“For someone who has learnt a skill but cannot afford the tools to begin, access to capital can change their prospects. For an existing business, knowing how to price properly, attract customers and manage money can determine whether that capital produces growth,” Odii said.
He said the agency aimed to equip entrepreneurs with the resources and connections needed to build sustainable businesses, support livelihoods and create jobs.
“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,” he said.
Odii said the initiative would provide additional financing opportunities, with grants scheduled for disbursement at the Lagos conference and another event in northern Nigeria.
He added that final presentations and prize awards at the Lagos event would take place on November 10.
The SMEDAN director-general also encouraged Nigerians to patronise locally made products, particularly during the forthcoming festive season, to support small businesses.
“We are inviting people to come and shop Nigerian. As you prepare for the festive season, there is an opportunity to discover something new, buy directly from local businesses and help an entrepreneur finish the year stronger,” he said.
The conference will also feature sessions on event management, beauty and makeup artistry, building a beauty business and the use of artificial intelligence for marketing.
Participants are expected to benefit from practical demonstrations and direct interaction with facilitators.
