By Adeyinka Adeniran
No fewer than 39 young entrepreneurs on Wednesday got business support grant from the University of Ibadan, Ibadan to support their start-ups and business expansion plans.
The grant which ranges between N100,000 to N500,000 was presented as parts of activities to flag off the 2025 Small and Medium Enterprise Fair.
The two-day fair, themed “Inspiring Next-Gen SMEs: Igniting Ideas, Innovations, and Building Resilience,” brought together entrepreneurs, students, investors, financial institutions, and policymakers from across the country.
It features exhibitions, pitch competitions, business development sessions, and direct funding opportunities for young innovators.
The empowerment initiative, supported by Providus Bank and other partners, marks another step by the university in bridging the gap between academia and enterprise while encouraging Nigerian youths to turn their creative ideas into impactful businesses that can drive sustainable growth and job creation.
Declaring the SME Fair open at the International Conference Centre, University of Ibadan, Ibadan, the state capital, the Vice-Chancellor of the institution, Professor Kayode Adebowale, described it as “a transformative platform where knowledge meets opportunity and innovation becomes impact.”
Adebowale, who was represented by the Deputy Vice-Chancellor (Academic), Juwon Arotiba, said the university’s vision goes beyond producing graduates, it aims to produce innovators capable of leading social and economic change across Africa.
He said, “SMEs are the lifeblood of economic growth. They drive innovation, create jobs, and sustain communities even amid uncertainty. Through initiatives like this fair, the university provides mentorship, partnerships, and access to funding that help businesses scale and thrive.”
The VC urged the participants to embrace resilience, creativity, and adaptability.
Earlier in her welcome address, the Deputy Vice-Chancellor, Research, Innovation and Strategic Partnerships, Oluyemisi Bamgbose said the fair represents more than an annual event, it is a movement that celebrates ingenuity, nurtures innovation, and empowers the next generation of business leaders.
“Technology is the great equalizer. A small business in Ibadan can serve clients in Lagos, Nairobi, or London. But to do this successfully, our entrepreneurs must have access to digital tools, mentorship, and the resilience to adapt.”
In his keynote address, the Deputy Managing Director of Providus Bank, Kingsley Aigbokhaevbo commended the university for its sustained investment in entrepreneurship and innovation.
“SMEs are not just business units, they are the lifeblood of our economy. At Providus Bank, we have built our identity around one word, support. Support for innovation, support for small businesses, and support for the dreamers who turn challenges into opportunities.
“Ideas are powerful, but without structure, innovation, and resilience, they die. Every young entrepreneur must learn to turn ideas into impact and build sustainable businesses that can compete globally.”
Also speaking, the Convener of the Fair at the Department of Peace, Security and Humanitarian Studies, Faculty of Multipledisplinary Studies, UI, Ruth Adio-Moses, described the event as a bridge between town and gown.
“Students are the game changers.This platform brings together innovative young minds, established entrepreneurs, and investors to share knowledge and create partnerships that can transform ideas into thriving ventures.
“39 entrepreneurs were selected to receive grants in four categories, with awards ranging between N100,000 and N500,000.”
She said selected exhibitors would undergo intensive business and digital skills training to strengthen their capacity for growth and innovation.
