SMEDAN Launches N100 Million Fund for Entrepreneurs

The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has announced an initiative aimed at creating 100 millionaire entrepreneurs through business training and financial grants. This program will be featured at the GROW Nigerian Conference 2026 in Lagos and will include practical business masterclasses, financial support, and market access opportunities.

A significant aspect of the initiative is the Zero to 100 Pitch Competition, which has a N100 million prize pool to support promising businesses. Grants will be distributed during the conference and at another event in northern Nigeria, with final presentations scheduled for November 10.

Charles Odii, the Director-General of SMEDAN, stated that the initiative aims to bridge the gap between entrepreneurial skills and the financial resources needed to establish and grow viable businesses. The program will also include the Nigeria First Fair, allowing the public to purchase products directly from Nigerian businesses.

Odii encouraged Lagos residents to support local entrepreneurs as the festive season approaches.