Access Bank in an effort to bridge the knowledge and capacity gap threatening the survival of SMEs in Nigeria has launched SMEs Academy to provide training for entrepreneurs.
Speaking during the unveiling of the academy in Lagos on Wednesday, November, 12, 2025, Head of Retail Banking at Access Bank, Olumide Olatunji, said the programme was launched in Nigeria following the success of a similar scheme in Ghana, which recorded significant impact on SME performance and growth.
“Such training academy has been held in Ghana recording very positive results in terms of impact and growth opportunities for the SMEs. So we deemed it very necessary to bring such initiative down to Nigeria given the massive opportunities that lie within our population and the fact that the economy is sustained by these SMEs,” Olatunji said.
Group Head, SME Banking at Access Bank, Abiodun Olubitan, said that the initiative targets at least 100 entrepreneurs in its first cohort and is designed to enhance capacity development, promote financial readiness, and improve business survival rates across the SME sector.
Olubitan explained that the initiative reflects the bank’s long-term commitment to supporting SMEs as vital drivers of national economic growth. “It is a known fact globally that supporting SMEs in this age and time is just the way to go. Because they drive the economy, they are the ones actually contributing significantly, you know, over 80 per cent to the GDP. So, it is important that we give them the right support, the right tools for them to continue to scale and grow in their businesses,” she said.
She noted that research has shown that over 50 per cent of small businesses fail within their first five years due to limited access to capital and inadequate capacity development. According to her, the academy was established to bridge these gaps and help entrepreneurs build resilience.
“We put this together to support our SMEs so that even at that time when they are not sure of what to do, they have a tool, a resource somewhere they can leverage on to see what it is they’ve learned, they can put into play in their business”