Former Minister of Finance, Kemi Adeosun, has launched Nidacity, a new digital platform designed to tackle Nigeria’s high startup failure rate by equipping entrepreneurs with practical skills, mentorship, and business insights. The platform, which officially went live on Tuesday, March 31, 2026, is positioned as a private sector-driven response to one of the biggest challenges facing Nigeria’s economy — the collapse of businesses within their early years.
Adeosun said the initiative was born out of the urgent need to address what she described as an alarming trend, with an estimated 95 percent of startups failing within their first five years. “Nigeria has the world’s highest entrepreneurship rate, yet most businesses do not survive beyond five years,” she said, stressing that the problem is not a lack of ideas but a gap in practical knowledge, support systems, and access to the right information.
She explained that Nidacity is designed to close that gap by providing entrepreneurs with tools that go beyond theory. “Nidacity is not a charity, it is an investment in the people already building this economy,” Adeosun stated, adding that strengthening existing businesses could significantly improve job creation and economic stability. With Small and Medium Enterprises accounting for about 85 percent of employment in Nigeria, she noted that high failure rates come with serious social and economic consequences.
The platform delivers its support through a structured model built around five key pillars. These include The Builders podcast, which features real conversations with entrepreneurs; Entrepreneur Profiles that promote peer learning; Resources that address operational challenges; Education offering practical training through digital courses and webinars; and News Analysis to help business owners understand and respond to market changes.
As part of its launch, Nidacity also introduced the “Many Roads” Survey, a nationwide digital initiative aimed at gathering data on the origins and evolution of entrepreneurship in Nigeria. According to Adeosun, the goal is to better understand the cultural and structural factors shaping business growth in the country. “We want to understand how Nigeria’s entrepreneurial culture emerged and what sustains it across generations,” she said.
She added that insights from the survey would be shared with policymakers, investors, and educators to help improve business education and reduce failure rates. By combining data, education, and community-driven learning, the platform aims to create a more supportive environment for entrepreneurs navigating Nigeria’s complex economic landscape.
Adeosun, an economist and chartered accountant with over three decades of experience, said the broader vision is to equip Nigerian entrepreneurs with the knowledge and resilience needed to build sustainable businesses.
