The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) is targeting the creation of 100 millionaire entrepreneurs through a combination of practical business training, financial grants and access to markets under its GROW Nigerian Conference 2026. The three-day event, scheduled for November 8–10 at the Ecobank Pan African Centre in Victoria Island, Lagos, will bring entrepreneurs, investors, policymakers and development partners together to address funding, management and market-access challenges confronting small businesses.
The initiative reflects SMEDAN’s growing emphasis on helping Nigerians move beyond acquiring business skills to establishing profitable enterprises capable of generating income, creating employment and contributing to economic development.
Speaking ahead of the conference, SMEDAN Director-General and Chief Executive Officer, Charles Odii, explained that many Nigerians possess valuable business ideas and practical skills but struggle to secure the capital and management knowledge needed to turn them into successful ventures.
He noted that access to funding alone would not guarantee business growth unless entrepreneurs also understood pricing, customer acquisition, financial management and the practical requirements of running sustainable enterprises.
₦100 Million Pitch Competition to Support Entrepreneurs
A major attraction of the conference will be the Zero to 100 Pitch Competition, which carries a ₦100 million prize pool for promising businesses.
The competition is designed to provide additional funding opportunities for entrepreneurs with viable business ideas and growth potential. Prize disbursements are scheduled for the Lagos conference and a separate event in Northern Nigeria, with the final presentations and awards expected on November 10.
The funding initiative complements the conference’s masterclasses, which will provide selected participants with practical knowledge and financial support to establish or expand their businesses.
SMEDAN explained that the ambition to create 100 millionaires goes beyond distributing grants. The agency wants beneficiaries to acquire the skills, capital and business connections required to build enterprises that can sustain livelihoods and employ other Nigerians.
This approach recognises that entrepreneurs face different challenges depending on their business stages. While an aspiring entrepreneur may need equipment and startup capital, an established business may require better financial planning, improved marketing, stronger distribution networks and access to larger customers.
Practical Masterclasses Focus on Business Growth
The GROW Nigerian Conference will feature practical masterclasses led by experienced entrepreneurs and industry professionals.
The sessions will cover areas such as entrepreneurship, business development, marketing, customer acquisition, financial management, innovation and the use of technology to improve business operations.
SMEDAN believes that practical knowledge can help business owners make better decisions, manage resources more effectively and identify opportunities for expansion.
For example, a business owner who understands product pricing can determine whether revenue adequately covers production costs, operating expenses and other obligations. Similarly, improved marketing and customer engagement can help small enterprises attract new buyers and retain existing customers.
The conference will also provide opportunities for entrepreneurs to interact with established business leaders, financial institutions and investors. These connections could help participants identify funding opportunities, establish partnerships and explore new commercial relationships.
Nigeria First Fair Opens Markets for Local Businesses
Another major component of the conference will be the Nigeria First Fair, a three-day marketplace designed to connect Nigerian businesses directly with consumers and potential commercial partners.
The fair will allow small businesses to display locally produced goods, attract customers, promote their brands and establish relationships with retailers and corporate buyers.
SMEDAN is encouraging members of the public to patronise participating Nigerian businesses, particularly as preparations for the festive season gather momentum.
The agency’s position is that increased patronage of locally made products can strengthen the revenue base of small enterprises, support domestic production and encourage entrepreneurs to expand their operations.
For many MSMEs, access to customers remains as important as access to finance. A business may receive funding and acquire equipment, but without reliable buyers and distribution channels, its ability to generate sustainable revenue remains limited.
By combining the Nigeria First Fair with training and funding opportunities, SMEDAN hopes to connect entrepreneurs with the commercial opportunities needed to translate business ideas into measurable results.
NAFDAC Summit to Address Regulatory Challenges
The conference will also feature a dedicated summit involving the National Agency for Food and Drug Administration and Control (NAFDAC) on November 9.
The session will bring regulators and business owners together to discuss registration requirements, compliance challenges and other regulatory issues affecting small businesses, particularly those operating in food, cosmetics and related product sectors.
NAFDAC Director-General, Professor Mojisola Adeyeye, is expected to participate alongside SMEDAN leadership and representatives of business groups.
The agency will also demonstrate its NAPAMS platform and provide practical guidance to entrepreneurs on how to use the system.
Regulatory compliance remains an important requirement for businesses seeking to manufacture, distribute and expand products in regulated industries. However, the cost and complexity of navigating registration procedures can create difficulties for smaller enterprises.
The summit is therefore expected to provide an opportunity for business owners to understand regulatory requirements, ask questions and identify ways to address operational bottlenecks.
Financial Institutions and Business Leaders to Participate
SMEDAN is bringing together financial institutions, regulators and private-sector organisations to strengthen the support available to Nigerian entrepreneurs.
Expected participants include the Bank of Industry, Development Bank of Nigeria, Nigeria Export-Import Bank, Corporate Affairs Commission and Nigeria Social Insurance Trust Fund.
Their participation is expected to expose business owners to information on financing, formalisation, regulatory compliance and other services that can support enterprise development.
Oando Group Chief Executive, Wale Tinubu, is scheduled to deliver the keynote address, drawing on his experience in building and expanding a Nigerian business.
Other facilitators include Chude Jideonwo, Funke Bucknor-Obruthe, Teniola Chigbata, Nelly Agbogu and Anita Natacha Akide, popularly known as Tacha. Their sessions will address different areas of entrepreneurship, including creative industries, beauty businesses, event management and the use of artificial intelligence for marketing.
The programme will also include a film and talent development component, with filmmaker Tola Odunsi scheduled to screen his production 19 and conduct live auditions for a film commissioned by SMEDAN.
The conference is being organised with development partners, including the German development agency GIZ 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 Cooperation Agency (KOICA) are also partners, while the Lagos State Government is hosting the event and Ecobank is the partner host.
Building on SMEDAN’s Wider Entrepreneurship Programmes
The 100-millionaire target forms part of SMEDAN’s broader efforts to strengthen Nigeria’s MSME sector through training, funding, mentorship and market connections.
In August 2026, the agency introduced the Building Resilient Young Nigerian Entrepreneurs (BRYNE) Project, which targets more than 100,000 young Nigerians annually with entrepreneurship support.
The programme combines business training, incubation, mentorship, access to finance and market opportunities through physical and digital platforms.
Its components include the SMEDAN Incubation Programme, Campus Enterprise Engagement Platform and BRYNE Digital Connect. The agency also outlined a weekly startup hackathon targeting 5,000 young entrepreneurs, with 52 selected winners expected to receive ₦250,000 each in seed funding.
These initiatives demonstrate SMEDAN’s intention to support entrepreneurs at different stages, from individuals developing business ideas to existing enterprises seeking expansion.
Turning the 100-Millionaire Ambition into Lasting Results
Although SMEDAN’s target of creating 100 millionaire entrepreneurs has attracted attention, its long-term success will depend on the commercial performance of participating businesses after the conference.
Entrepreneurs will need more than one-off grants to build sustainable enterprises. Continued access to finance, affordable infrastructure, reliable electricity, skilled workers, customers and business advisory services will remain essential.
The agency will also need to track how beneficiaries use the funding, whether their businesses increase revenue, how many jobs they create and whether they can maintain growth beyond the initial support period.
For participants, the opportunity lies in combining practical training with the financial resources and market connections available through the programme.
As the GROW Nigerian Conference opens in Lagos, SMEDAN is seeking to demonstrate that entrepreneurship support can go beyond skills acquisition to help Nigerians establish profitable businesses, generate wealth and create employment.
Ultimately, the 100-millionaire ambition will be measured not simply by the number of grants awarded, but by the number of enterprises that grow into sustainable businesses capable of contributing meaningfully to Nigeria’s economy.
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