The University of Ibadan (UI) has launched its 2025 Small and Medium Enterprise (SME) Fair, awarding grants ranging from ₦100,000 to ₦500,000 to 39 young entrepreneurs to support their start-ups and business expansion efforts.
The two-day event, themed “Inspiring Next-Gen SMEs: Igniting Ideas, Innovations, and Building Resilience,” opened on Wednesday, November 5, at the university’s International Conference Centre in Ibadan, Oyo State. It brought together students, entrepreneurs, investors, financial institutions, and policymakers from across Nigeria.
The SME Fair featured exhibitions, pitch competitions, business development workshops, and access to direct funding opportunities, providing a platform for emerging innovators to connect with potential partners and investors. Supported by Providus Bank and other private-sector collaborators, the initiative reflects UI’s growing commitment to bridging the gap between academia and enterprise while nurturing youth-driven innovation for national growth.
Declaring the fair open, the Vice-Chancellor, Professor Kayode Adebowale, described the event as “a transformative platform where knowledge meets opportunity and innovation becomes impact.” Represented by the Deputy Vice-Chancellor (Academic), Professor Juwon Arotiba, Adebowale emphasized that the university’s goal goes beyond producing graduates; it aims to develop innovators who can drive social and economic transformation across Africa.
“SMEs are the lifeblood of economic growth. They drive innovation, create jobs, and sustain communities even amid uncertainty,” Adebowale said. “Through initiatives like this fair, the university provides mentorship, partnerships, and access to funding that help businesses scale and thrive.”
In her remarks, the Deputy Vice-Chancellor (Research, Innovation, and Strategic Partnerships), Professor Oluyemisi Bamgbose, said the fair represents more than an annual event but a movement that celebrates ingenuity and builds a resilient entrepreneurial ecosystem. “Technology is the great equalizer,” she said. “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.”
Delivering the keynote address, the Deputy Managing Director of Providus Bank, Kingsley Aigbokhaevbo, commended UI’s sustained investment in entrepreneurship and innovation. “SMEs are not just business units; they are the lifeblood of our economy,” he said. “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.”
Aigbokhaevbo urged young entrepreneurs to focus on structure, sustainability, and innovation, noting that ideas alone are not enough. “Ideas are powerful, but without structure and resilience, they die. Every young entrepreneur must learn to turn ideas into impact and build businesses that can compete globally.”
The Convener of the fair and a lecturer at the Department of Peace, Security and Humanitarian Studies, Dr. Ruth Adio-Moses, described the initiative as a bridge between “town and gown,” connecting the academic community with the broader business ecosystem. “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,” she said.
According to Adio-Moses, the 39 selected entrepreneurs received grants in four categories and will undergo intensive business and digital skills training to enhance their capacity for innovation and growth.
The University of Ibadan’s SME Fair reinforces a growing trend among Nigerian universities to integrate entrepreneurship and innovation into academic life. By equipping students with real-world business experience and financial support, the initiative contributes to the country’s wider drive toward inclusive economic development and MSME resilience.
