Access Bank has launched the SME Academy, a new initiative designed to tackle Nigeria’s high rate of small business failures by equipping entrepreneurs with essential skills, knowledge, and resources for sustainable growth. The programme was unveiled on Wednesday in Lagos, reinforcing the bank’s long-term commitment to strengthening the SME sector, a major driver of Nigeria’s economic development.
Speaking at the launch, Head of Retail Banking, Olumide Olatunji, noted that the academy’s introduction in Nigeria follows the successful rollout of a similar programme in Ghana, which led to measurable improvements in SME performance.
“Given the opportunities within Nigeria’s population and the central role SMEs play in sustaining the economy, it became necessary to bring this initiative home,” Olatunji said.
Group Head, SME Banking, Abiodun Olubitan, explained that the inaugural edition targets 80 established business owners and is structured as a three-day intensive training. The programme focuses on strengthening business structures, improving financial readiness, and boosting survival rates in a sector where many firms fail within five years.
“SMEs contribute over 80 percent to GDP globally, so supporting them is essential,” she said. “Our research shows that inadequate capital and weak capacity are major reasons businesses collapse. The academy addresses these gaps by providing practical tools entrepreneurs can immediately apply.”
Although the programme does not include grant funding, Access Bank will offer financing opportunities to participants who demonstrate strong business capacity and bankability after the training.
“Funding is important, but we want to support entrepreneurs who have the capacity to manage it responsibly. The academy helps us build that confidence,” Olubitan added. She also noted that the SME Academy will run multiple times annually, eventually becoming a pipeline for continuous mentorship and engagement.
The maiden cohort focuses on businesses operating for three to four years and looking to scale. The curriculum covers strategic planning, digital marketing, financial management, access to finance, and operational efficiency areas identified as common challenges for Nigerian SMEs.
Participants praised the initiative for delivering high-quality training at no cost.
Juliet Ike, CEO of TMA Global Consult, described it as a timely opportunity to strengthen her business structures, while Dr. Onipidan Adebayo of ShawBC Ventures highlighted the value of receiving business school–level insights for free.
With over 39 million MSMEs contributing more than 80 percent of employment and nearly half of Nigeria’s GDP, Access Bank’s SME Academy arrives at a pivotal moment. Industry experts say the initiative could become a model for sustainable SME development by prioritizing knowledge, building capacity, and supporting access to finance.
Through this academy, Access Bank positions itself not just as a lender, but as a strategic partner committed to nurturing a new generation of scalable, resilient Nigerian businesses and advancing inclusive economic growth.