Nume Ekeghe

Access Bank has rolled out the SME Academy, a capacity-building programme designed to confront one of Nigeria’s most persistent economic problems: the steep mortality rate of small businesses. 

The initiative, unveiled in Lagos signals a deeper shift in the bank’s SME strategy from transactional banking to long-term enterprise development—and arrives at a moment when entrepreneurs face rising costs, tighter margins, and a harsher operating environment.

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.”