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ProvidusBank, in conjunction with the Enterprise Development Center, has launched the ProvidusBank SME Challenge for Nigerian Entrepreneurs. The program is aimed at improving the capacity of small and medium scale businesses to succeed in the Nigerian environment. Enterprises can expect to benefit from this challenge in several ways. They will gain administrative competencies, enabling them to prepare defensible business proposals, access high value markets, and secure crucial funding to scale. Overall, participating businesses should see a marked improvement in their internal operations and quality of results they achieve.
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How the Program Will Proceed

This program will unfold in three stages. Stage 1 500 businesses will receive support from the EDC’s SME toolkit, including free expert advice from top business consultants, training resources, enterprise-grade software, business templates, and other useful packages. Stage 2 The top 50 businesses from the initial group of 500 will get further business advisory and support services. Stage 3 The final group of 15 businesses will receive an enterprise development program that’s tailored to their specific need, along with intensive business support services.


Entrepreneurs who wish to enter for the ProvidusBank SME Challenge must be Nigerian and aged 18 and above. They should also meet these criteria:
  1. Own a business that’s registered and operational in Nigeria. 
  2. The business must be a profit making enterprise from any sector.
  3. The founder should be educated, possessing at least an Ordinary National Diploma (OND).
  4. Must be able to attend trainings physically and virtually.
  5. The participant must be able to complete registration for the challenge online.

The Registration Process

  1. Log on to the website for the challenge. Click on ‘Start Application’.
  2. Upon providing the requested detail, you will get a confirmation email containing the information required to log in.
  3. Complete the application. Remember to click on ‘Save and Continue’ after filling in information for each page. At the end of the process, click ‘Submit’.
  4. Visit the ‘News and Update’ tab of the ProvidusBank SME Challenge site regularly to track the progress of the challenge.

Find our comprehensive listings of businesses in Nigeria here


Applications are open until the 21st of September 2020. To register for the ProvidusBank SME Challenge 2020, click here.     Featured image source: Small Business Club
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This article was first published on 11th September 2020


Ikenna Nwachukwu holds a bachelor's degree in Economics from the University of Nigeria, Nsukka. He loves to look at the world through multiple lenses- economic, political, religious and philosophical- and to write about what he observes in a witty, yet reflective style.

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