Stanbic IBTC has hosted the inaugural Nigeria Business Summit, bringing together policymakers, entrepreneurs, investors, and industry leaders over two days at the Landmark Event Centre, Victoria Island, Lagos. Held on 1 and 2 April 2026, the summit was themed “Nigeria Means Business: Powering Sectors, Growing Sustainable SMEs and Unlocking Global Trade,” with discussions spanning agribusiness, renewable energy, trade, ICT, telecommunications, and artificial intelligence.
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What the summit was about
The event was structured around two focused days. Day one addressed sector intelligence, infrastructure challenges, Africa-wide trade dynamics, and structural reforms needed to improve Nigeria’s business environment. Day two shifted attention squarely to SMEs, with sessions on accessing finance, market access, female enterprise, and digital adoption.
Finance Minister and Coordinating Minister of the Economy, Wale Edun, delivered the keynote address, stressing the need for Nigeria to reposition itself as an export-driven economy. He also highlighted the importance of SMEs, which account for over 90 per cent of businesses in Nigeria, noting that inclusive growth will depend on stronger collaboration between the public and private sectors.
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The case for digital transformation
A recurring theme across sessions was the role of technology in helping small businesses improve efficiency, reduce costs, and reach wider markets. Stakeholders emphasised that businesses embracing digital tools are better positioned to compete both locally and internationally.
For many Nigerian SMEs still operating through traditional methods, the message from the summit was clear: digital adoption is no longer optional but a baseline requirement for remaining competitive.
Bunmi Dayo-Olagunju, Deputy Chief Executive of Stanbic IBTC Bank, who opened Day Two, noted that the conversations were designed to help businesses understand what is coming next and position themselves ahead of it, covering areas from artificial intelligence to the emerging space of electric vehicle banking.
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Why this matters for small businesses
Access to resources, strategic guidance, and the right networks continues to limit growth for many SMEs in Nigeria. The summit demonstrated that meaningful collaboration between financial institutions, government agencies, and private investors is essential to removing the systemic barriers that have held small businesses back.
An SME exhibition on the final day gave entrepreneurs direct access to financial solutions, business tools, and partnership opportunities, translating the summit’s conversations into something tangible.
The broader picture
Initiatives like the Nigeria Business Summit reflect a growing recognition that sustainable economic growth in Nigeria cannot happen without a thriving SME sector. For small businesses, the value lies not just in the conversations, but in the funding access, market connections, and policy commitments that follow from them.
