The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has announced a ₦100 million funding initiative aimed at supporting entrepreneurs and helping small businesses expand their operations.

The programme will feature a pitch competition known as the Zero to 100 Pitch Competition, through which selected business owners will receive financial support.

The initiative is part of activities planned for the GROW Nigerian Conference 2026 in Lagos.

According to the agency, the programme will combine business training, financial assistance and opportunities to connect entrepreneurs with investors, financial institutions and potential customers.

SMEDAN Director-General, Charles Odii, explained that the initiative was designed to address some of the major difficulties confronting small businesses, particularly inadequate funding and limited business management skills.

He noted that many Nigerians possess valuable skills and business ideas but struggle to turn them into sustainable enterprises because they lack the resources to get started or expand.

The agency said the prize presentations and final disbursements are scheduled for November 10, with grants expected to be distributed at the Lagos conference and another event in northern Nigeria.

The conference will also feature the Nigeria First Fair, where members of the public will have the opportunity to purchase products directly from Nigerian businesses.

SMEDAN said the broader objective was to encourage local entrepreneurship, strengthen small businesses and create more employment opportunities.

Source: Punch Newspapers.