The Small and Medium Enterprises Development Agency of Nigeria has launched a N100 million fund aimed at creating 100 millionaire entrepreneurs through a combination of business training, financial grants and market access support. The Zero to 100 Pitch Competition, which carries the N100 million prize pool, will feature at the GROW Nigerian Conference 2026 in Lagos, with grants distributed at the conference and a second event in northern Nigeria. Prize presentations are scheduled for November 10.
The initiative is designed to address a critical gap between entrepreneurial skills and the financial resources needed to establish and expand viable businesses. According to SMEDAN's Director-General Charles Odii, many Nigerians possess business ideas and practical skills but lack both the capital and management knowledge to turn them into sustainable enterprises. Odii said access to capital can transform prospects for those who have learnt a skill but cannot afford tools to begin work, while existing businesses benefit from knowledge on pricing, customer attraction and money management.
The programme will combine practical business masterclasses with financial support and connections designed to help entrepreneurs build businesses capable of sustaining livelihoods and creating employment. SMEDAN is positioning the conference as a platform for connecting small businesses with investors, financial institutions, regulators and potential customers. A marketplace called the Nigeria First Fair will allow members of the public to buy products directly from Nigerian businesses and establish commercial relationships with entrepreneurs.
Odii urged Lagos residents to patronise participating businesses, particularly as the festive season approaches. He said, "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." A dedicated NAFDAC summit on November 9 will bring regulators and business owners together to discuss registration bottlenecks and demonstrate the agency's NAPAMS platform.
For small business owners and entrepreneurs, this programme offers a pathway to secure both capital and business skills, potentially lowering barriers to establishing or expanding ventures in Nigeria.