The Small Scale Enterprises Lab (SSE Lab) has unveiled plans to position Nigeria as a key player in the $940 billion global food waste market by training entrepreneurs to convert agricultural residues into valuable products such as food items, packaging materials, and skincare solutions.

Founder and Convener of SSE Lab, Mrs. Desola Jimmy-Eboma, said the initiative aims to enhance Nigeria’s non-oil export potential while driving sustainable economic growth through innovation and resource optimization.

Global statistics show that between 30 and 40 percent of all food produced annually is lost or wasted, costing the world economy an estimated $940 billion. Crop residues alone — the plant waste left after harvest — total about 5.5 billion tons each year.

In an interview with The Nation, Mrs. Jimmy-Eboma highlighted the vast, untapped opportunities in Nigeria’s food and agricultural waste sectors, noting that transforming such waste into marketable products can generate wealth and employment.

“As the nation grapples with unemployment and seeks meaningful entrepreneurial opportunities, we are showing that agricultural waste can become a source of economic value for both entrepreneurs and the country,” she said.

Speaking at the MBA Business Shower Cohort 2 Graduation and Business Showcase in Lagos, which she also convened, Jimmy-Eboma described agricultural waste as “potential wealth” for innovative entrepreneurs.

“Around the world, researchers and commercial partners are working to turn what’s being left behind or burned into new, useful products. This not only reduces the environmental impact of agriculture but also creates new income streams for farmers,” she explained.

She cited examples such as processing fruits and vegetables that often go to waste into dehydrated products, and using natural resources like banana leaves — or in Nigeria’s case, plantain sheaths — to produce biodegradable packaging.

“Nigeria has many such resources that are simply discarded. There are so many aspects of our environment that can be explored for value creation,” she said, calling for a national drive to empower citizens to transform local materials into exportable goods.

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Collaboration Key to SME Growth

Jimmy-Eboma stressed the importance of collaboration between the government, private institutions, and development hubs to grow Nigeria’s small and medium-sized enterprises (SMEs) and strengthen the Gross Domestic Product (GDP).

“I cannot single-handedly increase the number of SMEs by any significant percentage. Growth requires collaborative efforts — the government, institutions, and entrepreneurs must work together to scale sustainably,” she said.

She also identified a major gap in most empowerment programmes, noting that skills training alone is insufficient for lasting impact.

“Many programmes stop at teaching skills like candle-making or baking. But what happens afterward? Who teaches participants how to turn those skills into viable businesses? Real empowerment lies in transforming skills into bankable ventures,” she explained.

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Turning Skills into Bankable Ventures

Through SSE Lab, entrepreneurs receive guidance on how to differentiate their products and create unique market identities.

“If someone learns candle-making, we help them define what makes their candles different from others in the market. That’s how a product becomes bankable,” she said.

Currently, SSE Lab works with 65 established businesses and plans to at least double that number in the coming years.

“By the end of 2027, my goal is to have worked with individuals to establish no fewer than 200 businesses,” Jimmy-Eboma stated.

She added that Nigerian SMEs have great potential for innovation but need stronger support in branding, business development, and access to finance.

The organisation’s MBA programme provides entrepreneurs with tools to expand locally and globally. It offers a three-month accelerator designed to help SMEs transform ambition into measurable national and international impact.

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Banks Pledge Support for SMEs

Also speaking at the event, Mrs. Esther Obiekwe, Group Head of Retail and SME Banking at Nova Bank, reaffirmed the bank’s commitment to supporting small businesses through easier access to finance.

She emphasised that SMEs need access to credit, governance structures, technology, and market linkages to thrive.

“While SMEs represent a growing market, traditional lending remains challenging. Secured loans require collateral, while unsecured loans carry higher interest rates and stricter conditions,” she said.

Obiekwe noted that cash flow-based lending is emerging as a practical alternative, enabling small businesses to meet short-term borrowing needs without stringent collateral requirements.

“Formalising business records builds confidence among lenders and increases the likelihood of access to funding,” she added.

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Driving a Sustainable Future

With food waste representing both an environmental challenge and a massive economic opportunity, SSE Lab’s initiative seeks to transform Nigeria’s agricultural by-products into sources of innovation, sustainability, and prosperity.

As Jimmy-Eboma put it:

“When we turn waste into wealth, we not only protect our planet — we also build a stronger, more inclusive economy for Nigeria.”