The Small and Medium Enterprises Development Agency of Nigeria opens its annual National MSME Conference this Sunday, 8 November, with a stated aim of creating 100 new millionaire entrepreneurs through capacity building and grants. The three-day event, branded GROW Nigerian, runs until 10 November at the Ecobank Pan African Centre on Victoria Island, Lagos. Its theme is “GROW Nigerian: The Next Frontier for Innovation, Policy and Market Access”.
Read also: Keystone Bank, NACCIMA, SMEDAN train Nigerian SMEs on the skills banks actually want
Where the money sits
SMEDAN puts the overall prize pool at N100 million, to be disbursed at the Lagos conference and at a separate event in northern Nigeria. The conference’s Zero to 100 pitch competition carries a N30 million grant pool: N15 million for the winner, N10 million for the runner-up and N5 million for third place. Ten shortlisted businesses pitch in the semi-finals on 9 November, and the live final and prize presentation follow on 10 November. The agency also says selected participants will receive grants at the end of its masterclasses.
The top prize has grown. At the 2025 edition, the winner received N10 million after 10 semi-finalists emerged from more than 700 applicants.
Raising the winner’s prize from N10 million to N15 million is a small but visible signal that SMEDAN wants the pitch stage to fund real expansion, not just reward presentation skills.
Read also: SMEDAN says Nigeria lacks investment-ready startups, launches trainer programme to fix the pipeline
Skills before capital
Director-General Charles Odii said the conference is designed to address the practical problems that stop entrepreneurial talent from becoming viable businesses. Capital matters, he said, but for an existing business, knowing how to price properly, attract customers and manage money often decides whether that capital produces growth.
That emphasis reflects a pattern seen across Nigeria’s SME support programmes this year. Funders increasingly pair grants with training because a loan or grant that reaches a business without sound pricing and record-keeping rarely lasts.
A marketplace as well as a conference
The Nigeria First Fair runs alongside the programme and stays open to the public for all three days. Shoppers can buy directly from small businesses and meet the entrepreneurs behind the products. Attendance is free, with sessions on 9 and 10 November and a live-stream option for remote delegates. Registration is through the conference website.
Read also: SMEDAN pushes to make Nigerian entrepreneurs bankable through new framework
What to watch
The test is follow-through. A grant paid on stage helps one business. The lasting value for the sector lies in whether the lessons on pricing, customer acquisition and money management reach the thousands of owners who cannot travel to Lagos this week.
Entrepreneurs who qualify for the final will pitch for funding in front of a live audience, which turns the competition into both a funding round and a marketing event for every business that reaches the stage.
