The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has unveiled a ₦100 million funding initiative aimed at creating 100 millionaire entrepreneurs and addressing the constraints facing small businesses in the country.
The initiative, announced in a statement on Thursday, will feature the “Zero to 100 Pitch Competition,” where selected entrepreneurs will receive financial grants, business masterclasses, and market access opportunities.
The main event will take place at the GROW Nigerian Conference 2026 in Lagos, with the final pitch and prize presentations scheduled for November 10.
SMEDAN revealed that the grants will be distributed across the Lagos conference and a subsequent event in northern Nigeria.
The Director-General of SMEDAN, Charles Odii, said that the agency is committed to equipping Nigerians with the capital and management knowledge needed to build sustainable enterprises.
“Our ambition to create 100 millionaires brings these needs together. We want entrepreneurs to leave the conference with useful skills, financial support and connections that help them build businesses capable of sustaining livelihoods and employing others”, Odii.
The agency also announced the “Nigeria First Fair,” a marketplace designed to connect small businesses with investors, regulators, and consumers ahead of the festive season. Odii urged Lagos residents to patronise local businesses during the fair, in order to help an entrepreneur finish the year stronger.
How to qualify for SMEDAN’s next ₦100m grant
The primary pathway to access this funding is through SMEDAN’s “Zero to 100” Pitch Competition, which is hosted at the GROW Nigerian National MSME Conference.
The application window for the 2026 cycle officially closed on October 27, 2026. For this current cycle, SMEDAN is distributing a ₦30 million grant pool directly to the top three finalists (₦15M for 1st place, ₦10M for 2nd, and ₦5M for 3rd) during the live finals on November 10.
For future reference or subsequent funding rounds, here is the exact process entrepreneurs must follow to access the fund:
1. Gather business documentation:
The fund is strictly for formally registered Nigerian small businesses. Applicants must have their Corporate Affairs Commission (CAC) registration number and a prepared business pitch deck in PDF format (up to 10MB). Having a valid SMEDAN ID and certificate is also highly recommended and prioritized.Founders must record a 1.5 to 2-minute video introducing themselves, their business, the problem they solve, and why they deserve the grant. This video must be posted publicly on Instagram (links from TikTok, Facebook, or YouTube are not accepted).
2. Record a public Instagram pitch
Founders must record a 1.5 to 2-minute video introducing themselves, their business, the problem they solve, and why they deserve the grant. This video must be posted publicly on Instagram (links from TikTok, Facebook, or YouTube are not accepted).
3. Tag and format the post
Before submitting, the Instagram post must follow specific social media rules to be eligible: it must tag @smedangov and @grownigerianhq, and include the hashtags #MSMEConference2026, #SMEDANPitchCompetition, and #GrowNigerian.
4. Submit the application portal
Applicants must go to the official SMEDAN conference portal to submit their CAC number, SMEDAN ID, PDF pitch deck, and the link to their public Instagram video before the deadline.
5. Compete in the live pitch
Applications go through a rigorous shortlisting process to select 10 semi-finalists. These businesses pitch to a live audience on Day 2 of the MSME Conference, and the finalists pitch to a judging panel on Day 3, where the grants are disbursed directly on stage.
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