Lagos, Nigeria – Providus Bank has pledged to deepen its commitment to Nigeria’s small and medium enterprises as it celebrates five years of its flagship SME development program in partnership with the Enterprise Development Centre (EDC).
At an anniversary event in Lagos attended by program alumni and partners, the bank’s Deputy Managing Director, Kingsley Aigbokhaevbo, announced plans to expand the initiative and position Providus as a top-three SME bank in Nigeria.
Key Highlights:
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The program has trained 96 entrepreneurs across Lagos and Abuja since inception
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Providus is negotiating with Development Bank of Nigeria to secure lower-interest loans for SMEs
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Zero-fee model maintained as part of the bank’s corporate social responsibility
“When 95% of SMEs fail within five years, we asked how we could change that narrative,” Aigbokhaevbo stated. “This isn’t just banking – it’s nation-building.”
EDC leaders praised the partnership, with Programs Director Dr. Olawale Anifowose calling it “a game-changer for Nigeria’s SME ecosystem.” Graduates were challenged to pay forward their knowledge to help transform Nigeria’s entrepreneurial landscape.
The anniversary comes as Nigerian SMEs continue facing high financing costs and infrastructure challenges, making such support programs increasingly critical for business survival and growth.
