The University of Ibadan (UI) has empowered 39 young entrepreneurs with grants ranging from ₦100,000 to ₦500,000, reaffirming its commitment to promoting innovation, creativity, and resilience in Nigeria’s growing small and medium enterprise (SME) sector.
The two-day fair, themed: “Inspiring Next-Gen SMEs: Igniting Ideas, Innovations, and Building Resilience,” began on Wednesday, November 5, 2025, at the International Conference Centre of the university, bringing together entrepreneurs, students, investors, financial institutions, and policymakers from across Nigeria.
The fair, which continues on Thursday, November 6, features exhibitions, pitch competitions, business development sessions, and direct funding opportunities for young innovators.
The empowerment initiative, supported by Providus Bank and other institutional partners, highlights UI’s drive to bridge the gap between academia and industry while inspiring young Nigerians to become job creators rather than job seekers.
Represented by Prof. Juwon Arotiba, Deputy Vice Chancellor (Academic), the Vice-Chancellor, Prof. Kayode Adebowale, described the SME Fair as “a platform where knowledge meets opportunity, and innovation translates into tangible impact.”
He noted that the university’s goal extends beyond academic excellence, focusing on nurturing innovators who can lead economic transformation across Africa.
“SMEs are the lifeblood of economic growth,” Adebowale said.
“They drive innovation, create jobs, and sustain communities even amid uncertainty. Through this fair and our entrepreneurship initiatives, the University of Ibadan provides mentorship, partnerships, and access to funding that help businesses scale and thrive.”
The Vice Chancellor emphasised that resilience, creativity, and adaptability are now the currencies of success in a digital economy where, according to him, “a single idea from Ibadan can make global impact.”
In her welcome address, the Deputy Vice-Chancellor (Research, Innovation & Strategic Partnerships), Prof. Oluyemisi Bamgbose, described the SME Fair as “a movement that celebrates ingenuity, nurtures innovation, and empowers the next generation of business leaders.”
She highlighted UI’s evolving role as a bridge-builder between academia and enterprise, leveraging research, digital training, and partnerships to help small businesses thrive.
“Technology is leveling the playing field,” she said.
“A small business in Ibadan can now serve clients in Lagos, Nairobi, or London. What we must do is ensure our entrepreneurs have the skills, mentorship, and resilience to make that possible.”
Bamgbose cited success stories of student entrepreneurs who have leveraged UI’s innovation ecosystem to grow their ventures, proving that strong collaboration between universities, industries, and investors can yield sustainable economic transformation.
Delivering the keynote address, Mr. Kingsley Uduehi Aigbokhaevbo, Deputy Managing Director of Providus Bank, praised the University of Ibadan for its leadership in entrepreneurship development, describing the institution as “a beacon of learning and innovation that continues to turn ideas into enterprise.”
“SMEs are not just business units; they are the lifeblood of our economy,”
Aigbokhaevbo said. “At Providus Bank, our identity is built around one word support. Support for innovation, for small businesses, and for dreamers who turn challenges into opportunities.”
He urged entrepreneurs to combine creativity with financial discipline and collaboration, stressing that ideas alone are not enough without resilience and sustainable business models.
Also speaking, Mr. Kehinde Aremu-Cole, the NYSC SAED Coordinator, encouraged students to embrace entrepreneurship as a viable career path.
He urged young people to prioritize vocational skills and business integrity.
“Every student should have at least one vocation,” he said.
“Let your brand stand for quality, honesty, and prompt service. These values will sustain your business long after funding.”
The convener of the fair, Prof. Ruth Adio-Moses, described the event as a bridge between “town and gown,” where academic knowledge connects with real-world enterprise.
“Students are the game changers,” she said.
“This fair allows them to showcase their ideas, products, and creativity while connecting with investors and partners who can help them scale their businesses.”
She announced that the 39 beneficiaries were selected in four categories and will undergo business and digital skills training to strengthen their capacity for innovation and enterprise growth.
