SMEDAN launches N100m fund to train and grant 100 entrepreneurs

SMEDAN has launched a programme to create 100 millionaire entrepreneurs through training and financial grants, according to a statement released on Thursday. The initiative will be showcased at the GROW Nigerian Conference 2026 in Lagos and will include practical masterclasses, market access and a Zero to 100 Pitch Competition with a N100m prize pool.

Charles Odii, Director‑General of SMEDAN, said the scheme aims to bridge the gap between entrepreneurial skills and the capital needed to START or expand businesses. He noted many Nigerians have ideas and skills but lack the tools and management knowledge to turn them into sustainable enterprises. Odii added that the ambition to create 100 millionaires brings these needs together and that participants will leave the conference with skills, financial support and connections.

The prize money will be paid out at the Lagos conference and at a second event in northern Nigeria, with final presentations scheduled for 10 November. A dedicated NAFDAC summit on 9 November will allow regulators and business owners to discuss registration bottlenecks and demonstrate the NAPAMS platform. The programme will also host the Nigeria First Fair, a marketplace where the public can buy directly from local businesses and establish commercial links. Odii urged Lagos residents to shop locally as the festive season approaches, saying it offers entrepreneurs a chance to finish the year stronger.