SME support in Nigeria receives a major boost as Providus Bank celebrates five years of empowering entrepreneurs in partnership with the Enterprise Development Centre

SME support in Nigeria received a significant boost as Providus Bank marked five years of impactful entrepreneurship development through its partnership with the Enterprise Development Centre (EDC).

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At a celebratory event held in Lagos, Providus Bank’s Deputy Managing Director, Kingsley Aigbokhaevbo, emphasized that empowering small and medium-sized enterprises (SMEs) remains a strategic pillar for the bank.

He assured participants that the bank’s SME support in Nigeria would not only be sustained but also expanded nationwide.

“We know SMEs struggle in their first five years,” Aigbokhaevbo said. “That’s why we built this programme — to change that narrative and support economic growth.”

He further revealed ongoing talks with the Development Bank of Nigeria to provide affordable loans, tackling the challenge of high-interest rates that stifle SME expansion.

The programme — run free of charge — has graduated over 90 entrepreneurs this year alone, with alumni testifying to improved skills, business networks, and new funding opportunities.

Representatives from EDC, including Dr. Olawale Anifowose and Dr. Nneka Okekearu, praised Providus Bank’s commitment.

Okekearu urged graduates to “become agents of transformation” by supporting upcoming entrepreneurs.

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The bank reaffirmed its ambition to become one of Nigeria’s top three SME-focused banks, signaling a long-term commitment to growing sustainable businesses and nurturing innovation.