Access Bank has unveiled the SME Academy, a new initiative aimed at reducing Nigeria’s high rate of small business failures by equipping entrepreneurs with the skills, knowledge, and resources needed for sustainable growth. The programme reinforces the bank’s commitment to strengthening the SME sector, a key driver of the nation’s economy.

Speaking at the launch, Olumide Olatunji, Head of Retail Banking at Access Bank, highlighted that the initiative follows the successful rollout of a similar programme in Ghana, which resulted in measurable improvements in SME performance.

“Given Nigeria’s vast opportunities and the central role SMEs play in sustaining the economy, it became necessary to bring this initiative home,” Olatunji said.

Abiodun Olubitan, Group Head of SME Banking at Access Bank, explained that the inaugural edition will host 80 established business owners for a three-day intensive training. The programme focuses on strengthening business structures, enhancing financial readiness, and boosting the survival rates of SMEs—many of which collapse within their first five years.

“SMEs contribute over 80 percent to global GDP. Supporting them is essential,” Olubitan said. “Our research shows that inadequate capital and weak capacity are major reasons businesses fail. The academy addresses these gaps by providing practical tools entrepreneurs can immediately apply.”

While the programme does not offer grant funding, Access Bank will provide financing opportunities to participants who demonstrate strong business capacity and bankability after completing the training.

“Funding is important, but our goal is to support entrepreneurs who can manage it responsibly. The academy helps build that confidence,” Olubitan added.

The SME Academy is planned to run multiple times annually and is expected to become a pipeline for continuous mentorship and engagement, ensuring long-term support for Nigeria’s small business community.