In Nigeria’s often volatile and unforgiving business environment, Small and Medium Enterprises (SMEs) are among the most resilient actors—driving innovation, creating jobs, and contributing significantly to GDP. Yet, for decades, they have remained the silent casualties of inconsistent government policies, inflationary pressures, infrastructure gaps, and, most crucially, limited access to finance and business expertise.
Now, a quiet but meaningful revolution is underway—powered not by government grants or foreign aid, but by deliberate interventions from Nigeria’s largest bank, Access Bank.
In its continued commitment to inclusive economic growth, Access Bank has intensified efforts to uplift SMEs through strategic collaborations. Its latest partnership with global consulting giant Deloitte is a bold move aimed at closing long-standing capacity gaps in the SME sector.
A strategic move with deep intent
The recently held Access SME Business Clinic in Lagos, themed “Building a Resilient, Profitable and Future-Ready Business in Nigeria,” exemplifies this renewed commitment. The event brought together hundreds of entrepreneurs, industry experts, and banking professionals to engage in meaningful dialogue, training, and tailored consultations.
At the core of the clinic is a practical understanding: businesses don’t just need capital—they need knowledge, mentorship, and clear pathways to scalability.
Abiodun Olubitan, Group Head of SME Banking at Access Bank, emphasized this during her keynote address.
She said, “One of the three key pillars that SMEs need to thrive is access—to finance, to information, and markets. At Access Bank, our goal is to deliver on all three fronts.”
She explained that Access Bank’s partnership with Deloitte brings world-class business advisory services directly to Nigerian entrepreneurs, ensuring they receive tailored, one-on-one consultations to solve real-time challenges—be it taxation, regulatory compliance, cash flow management, or market strategy.
Financial solutions built for growth
Olubitan reiterated that Access Bank doesn’t take a one-size-fits-all approach. Instead, it has developed SME-focused products and services tailored to the unique growth stages of businesses—from nano enterprises to larger SMEs and corporates.
“We understand that many SMEs cannot meet traditional collateral requirements. That’s why we offer structured, collateral-free loans based on an enterprise’s cash flow trends and growth potential,” she said.
According to her, these financing models are not just about disbursing loans—they are about enabling sustainable business growth.
“Our approach is analytical. We assess how your business performs over time and, based on that insight, inject capital in ways that align with your business trajectory.”
The bank’s SME unit also offers services ranging from business registration support to digital banking tools, allowing entrepreneurs to focus more on building and scaling.
Making businesses “Finance-Ready”
Rob Giles, Access Bank’s Senior Banking Advisor for Retail Banking, added further context.
“It’s not just about giving out money. We want SMEs to be ‘finance-ready’—to understand their operations, market dynamics, and how funding fits into their business model,” he said.
Access Bank’s lending philosophy is centred on purposeful financing—ensuring loans contribute directly to productive assets, whether that’s equipment, retail space, or working capital. Giles noted the importance of sustainability, especially given Nigeria’s high-interest rate environment.
“We are mindful of how debt affects cash flow and profitability. Our goal is to ensure that our funding enhances revenue generation, not hinder it.”
Deloitte brings global expertise home
Representing Deloitte, Toluwalogo Odutayo, Partner in Tax and Regulatory Services, echoed the urgency of bridging Nigeria’s SME knowledge gap.
“SMEs account for about 51% of Nigeria’s GDP. Yet, many of them don’t survive the first few years due to poor structuring and lack of information,” he said.
She highlighted that Deloitte has created a specialised SME-focused unit offering support in areas like financial structuring, business planning, regulatory compliance, and growth strategy.
“Our partnership with Access Bank is rooted in the belief that local businesses deserve world-class expertise. Through these clinics, we offer insights that are not just theoretical, but actionable.”
Voices from the frontlines
SME owners at the event welcomed the initiative, seeing it as a lifeline in a challenging economic terrain.
Simon Kennedy of Melbourne Integrated International Services said the clinic exposed him to new business account offerings and financing models that could transform how he manages capital.
“This is more than a workshop—it’s an awakening. Many of us don’t even know what financing options are out there. This initiative is a game-changer,” he said.
Kennedy compared the initiative with global practices, noting the vital role small businesses play in economies like the U.S., China, and India. He believes Nigeria is taking a step in the right direction by equipping its SME sector with such support systems.
Ogechi Eze, founder of Oges Closet and Hair Hub, praised Access Bank’s consistent support over the years.
“For over five years, Access Bank has supported my business through the ups and downs. This clinic reinforces my confidence that I have a real partner in my corner,” she said.
Beyond the event
This is not a one-off. Olubitan revealed that the SME Business Clinic has been running for several years, with a renewed emphasis on physical consultations in this second edition.
“We’re not here for photo ops. This is part of a long-term strategy to foster SME resilience and profitability across Nigeria,” she concluded.
In an economy where SMEs represent both the present and the future, the Access Bank-Deloitte collaboration stands out as a thoughtful, action-oriented partnership. It seeks not just to fund Nigerian businesses, but to equip them with the tools, knowledge, and networks they need to thrive in an increasingly competitive world.