SMEDAN Unveils Major Initiative to Empower 100,000 Young Nigerian Entrepreneurs

The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has rolled out a fresh entrepreneurship scheme aimed at bolstering over 100,000 young Nigerians annually. This move aligns with the Federal Government's objective to enhance youth involvement in the nation's economy.

Named the 'Building Resilient Young Nigerian Entrepreneurs Project' (BRYNE), this initiative was launched as part of SMEDAN's activities to commemorate International Youth Day in 2026. The programme is designed to provide comprehensive support, encompassing enterprise training, incubation services, mentorship, facilitated access to finance, market exposure, and crucial business development assistance, all delivered through both physical and digital platforms.

According to SMEDAN, the initiative directly addresses a significant hurdle for emerging entrepreneurs: the struggle to secure adequate support at various growth stages of their businesses. Charles Odii, the Director-General and Chief Executive Officer of SMEDAN, conveyed this information in a statement released by the agency’s Corporate Affairs Unit on Friday.

Odii emphasized that the BRYNE programme is structured to offer practical pathways for young Nigerians, whether they are nurturing new business concepts or already managing existing ventures. He stated, “The Small and Medium Enterprises Development Agency of Nigeria has announced the Building Resilient Young Nigerian Entrepreneurs Project, a new initiative to expand entrepreneurship support for young Nigerians across the country.”

He further added, “The programme is expected to reach more than 100,000 young Nigerians annually through a combination of physical and digital interventions. Across the country, we meet young people with ideas, skills and businesses that can grow, but many still struggle to find the right support at the right time. BRYNE brings several of those opportunities together, from training and incubation to finance, markets and mentorship. We want more young Nigerians to have a fair chance to build businesses that can survive, grow and create jobs.”

Deputy Director Bimpe Fawale, who heads SMEDAN’s Women and Youth Unit, explained that BRYNE will be executed through four primary channels to ensure enterprise support reaches young Nigerians in their communities, tertiary institutions, and online. The SMEDAN Incubation Programme will annually support 600 young entrepreneurs in diverse sectors such as fashion, woodwork, and agriculture, leveraging the agency’s existing network of Industrial Development Centres nationwide.

Additionally, the Campus Enterprise Engagement Platform will be implemented in collaboration with the Federal Ministry of Education, extending entrepreneurship support directly to tertiary institutions. This platform will facilitate practical business workshops, advisory sessions, networking events, and exhibitions for student-owned businesses, aiming to engage up to 3,000 participants per participating campus.

For digital outreach, the BRYNE Digital Connect will deliver entrepreneurship education via online platforms, fostering innovation, youth-led businesses, and grassroots enterprises. It will also work to link entrepreneurs with broader markets and cultivate online business communities. A key component of the programme is a weekly startup hackathon, targeting 5,000 young entrepreneurs. From this, fifty-two winners will be chosen, each receiving N250,000 in seed funding.

Fawale highlighted that the programme’s structure is adaptable to accommodate entrepreneurs based on their specific requirements and developmental stages. She noted, “Some need help turning an idea into a business. Others already have businesses but need finance, mentorship, better market access or the right information to take the next step. BRYNE is designed to meet young entrepreneurs at those different stages and connect them to practical support.”

SMEDAN confirmed that beneficiaries would also gain connections to business formalization, funding sources, mentorship, investors, market opportunities, essential business information, and export avenues through the agency and its partners. This programme is part of SMEDAN’s wider commitment to empower young Nigerians to establish sustainable businesses, expand existing ones, and create employment opportunities.