Stakeholders from the Enterprise Development Centre (EDC), Keystone Bank, MasterCard Foundation, and Tripoint Academy have called on small and medium enterprises (SMEs) in Nigeria to embrace sustainable and impact-driven growth models to strengthen the nation’s business ecosystem and promote inclusive development.
The call was made during the 2025 EDC SME Conference, held recently in Lagos, with the theme, “Catalysing the Future: Empowering Small Businesses for Impact and Inclusive Growth.” The event brought together entrepreneurs, financial institutions, development partners, and business leaders to discuss the next phase of Nigeria’s SME development.
Speaking at the conference, Director of the Enterprise Development Centre, Mrs. Nneka Okekearu, said the gathering focused on key issues affecting Nigerian entrepreneurs such as compliance, exports, tax regulations, and innovation. She explained that the conference was designed to create a platform where business owners could learn, connect, and collaborate toward building a sustainable future.
According to her, the EDC remains committed to supporting inclusive and sustainable business development across the country through partnerships and training. Okekearu also praised Tripoint Academy for its remarkable achievement in empowering over 30,000 women entrepreneurs in the past ten years. She noted that the academy’s efforts align with Keystone Bank’s mission to promote inclusive growth and empower women through access to finance and business training.
Delivering the keynote address, Country Director of MasterCard Foundation, Ms. Rosy Fynn, commended EDC for over 18 years of consistent impact in supporting small businesses in Nigeria. She described SMEs as the “engine of the economy” but acknowledged that they continue to face major challenges, including limited access to finance, market linkages, and digital tools.
Fynn noted that the MasterCard Foundation’s collaboration with the EDC aims to address these constraints by implementing targeted capacity-building programmes that equip entrepreneurs with essential skills, technology, and financial literacy to scale sustainably. She added that the foundation’s goal is to ensure that small business owners thrive in an increasingly competitive economy.
She also emphasised that 2026 should be a year of “collaboration over competition,” urging entrepreneurs to build partnerships and networks that foster collective growth rather than rivalry.
“Having that hope, resilience, and the right mindset is a key part of ensuring that 2026 becomes a successful year for many SMEs,” Fynn said, adding that mindset transformation and digital inclusion are key drivers of modern entrepreneurship.
Also speaking, Executive Director of Keystone Bank, Mrs. Nnenna Okoro, reiterated the bank’s strong commitment to SME growth, describing small businesses as the “backbone of Nigeria’s economy.” She explained that the bank is not only providing financial support but also enhancing entrepreneurs’ business knowledge through mentorship and capacity-building programmes.
Okoro announced that Keystone Bank will increase the frequency of its SME Clinic Initiative, a series of interactive workshops designed to help entrepreneurs gain insight into business management, marketing, and regulatory compliance. She said these sessions provide valuable guidance that enables business owners to scale operations and remain competitive in both local and international markets.
On her part, Founder of Tripoint Travels Academy, Mrs. Shuhda Muhammad, who also represented northern entrepreneurs, applauded the EDC and its partners for organising the event. She reaffirmed the academy’s dedication to empowering small business owners, particularly women, across northern Nigeria.
According to Muhammad, more than 11,000 entrepreneurs, about 80 per cent of whom are women, have benefitted from Tripoint’s training and mentorship programmes. She said the initiative promotes financial independence, mindset transformation, and business visibility among women, helping them to break social and economic barriers.
Muhammad explained that Tripoint Academy continues to serve as an enabler for women entrepreneurs by expanding their access to markets and providing opportunities to showcase their products and services to wider audiences.
The 2025 EDC SME Conference ended with a renewed commitment from all stakeholders to support entrepreneurs through financing, mentorship, and digital innovation. Participants agreed that Nigeria’s long-term economic growth depends heavily on the ability of small businesses to operate sustainably, create jobs, and drive inclusive development.
