Access Bank Plc has introduced a new SME Academy aimed at reducing the high failure rate of small businesses in Nigeria. The bank said the academy will provide entrepreneurs with targeted training designed to help them scale their ventures and stay competitive in a challenging business environment. According to the bank, this initiative follows its successful rollout in Ghana, where it recorded measurable improvements in SME performance and business growth.
The financial institution explained that the programme will equip small business owners with essential skills, knowledge, and resources needed for sustainable growth. The academy is planned to run multiple times each year, eventually creating a steady pipeline for mentorship, capacity-building, and long-term engagement. Access Bank noted that the maiden edition is focused on businesses that have operated for three to four years and are now seeking to scale up.
The curriculum covers strategic planning, digital marketing, financial management, access to finance, and operational efficiency. These areas were selected after the bank identified them as common challenges faced by many Nigerian SMEs, especially those struggling with limited capital, poor business structures, and low financial readiness.
Speaking on the launch, the Head of Retail Banking at Access Bank, Olumide Olatunji, said, “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.” He added that the bank is committed to supporting business owners through structured training that improves long-term survival and competitiveness.
The Group Head of SME Banking, Abiodun Olubitan, said the inaugural edition targets 80 established entrepreneurs and will run as a three-day intensive training programme. She explained that the academy aims to strengthen business structures, improve financial readiness, and boost survival rates in a sector where many firms do not survive beyond five years. “SMEs contribute over 80 per cent to GDP globally, so supporting them is essential. 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,” she said.
Although the programme does not include grants, Access Bank will offer financing options to participants who display strong capacity and bankability after completing 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.
Participants welcomed the initiative, with Juliet Ike of TMA Global Consult calling it a timely opportunity to strengthen her business, while Dr Onipidan Adebayo of ShawBC Ventures praised the value of receiving business school–level insights at no cost. The launch comes at a critical time, as over 39 million MSMEs contribute more than 80 percent of employment and nearly half of Nigeria’s GDP.
