The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) says funding isn’t Nigeria’s biggest problem. The real gap lies elsewhere. Too few startups are ready to attract and use the capital that already exists.
SMEDAN made this point at the launch of a two-week Training of Trainers programme. The event took place in Abuja under the Abuja Centre for Entrepreneurship Project.
Onesi-Lawani, Director of the Director-General’s Office, spoke on behalf of SMEDAN‘s Director-General and CEO, Charles Odii. He said the programme will train a new group of facilitators. These trainers will equip young Nigerians with skills to build innovative, scalable, and globally competitive businesses.
According to a statement from Moshood Lawal, SMEDAN’s Head of Corporate Affairs, the initiative will produce ACE-certified trainers. These trainers will mentor aspiring smartpreneurs and strengthen Nigeria’s startup ecosystem.
Strong demand, tight selection
The programme drew more than 1,100 applications. SMEDAN ran a competitive selection process to narrow the pool. Eighty candidates made the shortlist across two tracks: Business Management and Artificial Intelligence. Interviews then narrowed the group further, down to 30 participants.
Onesi-Lawani urged the trainees to become catalysts. He wants them to help shape the next generation of Nigerian smartpreneurs.
“Significant funding opportunities exist for Nigerian startups, but there remains a shortage of investment-ready businesses capable of attracting available capital,” he said. “The participants are to focus on developing smartpreneurs with the capacity to build globally competitive and scalable enterprises.”
He also pushed the group to think beyond Nigeria’s borders. Their goal, he said, should be helping smartpreneurs build businesses that can compete internationally and draw in foreign investment.
Item7: How One Brand Grew Big Without Ads
Where the opportunity lies
Onesi-Lawani named fintech, agritech, healthtech, logistics, and mobility as sectors with strong growth potential. Furthermore, he also pointed to the creative economy, including digital media, fashion, gaming, animation, and film.
He noted that Nigeria remains Africa’s leading startup destination. The country is home to five of the continent’s eight unicorns. For Onesi-Lawani, that track record shows Nigeria’s capacity to produce globally successful businesses.
SMEDAN secures a $12 million commitment
The Abuja Centre for Entrepreneurship is a flagship SMEDAN initiative. It runs in partnership with the Korea International Cooperation Agency. The South Korean government backs the project with a $12 million commitment to build a world-class skills acquisition centre in Abuja.
The ACE Project covers several goals. It supports business education, digital innovation, incubation, and acceleration programmes. It also builds institutional capacity and supports policy development.
The project is expected to give aspiring smartpreneurs mentorship, technical skills, and networks. These resources should help them build scalable businesses that can attract both domestic and international investment.
This training programme arrives as the federal government and its development partners push to strengthen Nigeria’s startup ecosystem. The focus includes improving access to finance and growing the contribution of innovative enterprises and MSMEs to the wider economy.
