Access Bank has unveiled a bold initiative aimed at reducing Nigeria’s high rate of small business failures by equipping entrepreneurs with the skills, knowledge, and resources needed to sustain and grow their operations. The Access Bank SME Academy, launched in Lagos, marks a significant step in the bank’s long-term commitment to strengthening the small and medium enterprise (SME) sector — a key driver of Nigeria’s economic growth.
Speaking at the launch, Olumide Olatunji, Head of Retail Banking at Access Bank, highlighted that the programme builds on the bank’s successful SME Academy in Ghana, which significantly improved the performance and growth prospects of participating businesses. “Given the massive opportunities in Nigeria and the vital role of SMEs in sustaining the economy, it was necessary to bring this initiative home,” he said.
Abiodun Olubitan, Group Head of SME Banking, explained that the maiden edition targets 80 existing business owners for a three-day intensive training covering strategic planning, financial management, digital marketing, operational efficiency, and access to finance. The programme aims to address two major causes of small business failure in Nigeria: inadequate capital access and weak capacity development.
While the current edition does not include direct funding, the academy provides participants with access to financing opportunities upon demonstrating strong business capacity and bankability. Olubitan noted, “Funding is fundamental, but we want to ensure entrepreneurs are fully equipped to manage and grow their businesses successfully.”
Participants praised the initiative for offering high-quality, free business training that would otherwise be costly. Juliet Ike, CEO of TMA Global Consult, described it as a “crucial opportunity to learn about finance, team management, and business structures.” Dr. Onipidan Adebayo, Managing Director of ShawBC Ventures, highlighted the academy’s role in democratizing access to vital business knowledge.
With over 39 million micro, small, and medium enterprises (MSMEs) contributing nearly half of Nigeria’s GDP and employing more than 80 per cent of the workforce, Access Bank’s SME Academy is seen as a strategic move to nurture financially literate, scalable, and resilient Nigerian businesses. By aligning capacity-building with access to finance, the bank positions itself not just as a financier, but as a growth partner driving inclusive national prosperity.
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