Nigerian Entrepreneurs Urged to Innovate as 6th Business Summit Tackles Economic Instability
The 6th edition of the Business Summit, Fair, and Award (BSFAA) took place on October 16, 2025, at the Radisson Blu Hotel, GRA Ikeja, Lagos, bringing together entrepreneurs, policymakers, regulators, and innovators from across Nigeria.
Organised by Beady’s Word Productions and convened by Beady Nnanna, the annual event has grown into a key platform for promoting entrepreneurship, innovation, and small business development in Nigeria.
The 2025 edition, themed “Thriving Beyond Economic Instability,” was sponsored by Zenith Bank and drew participation from key regulatory bodies, including the National Agency for Food and Drug Administration and Control (NAFDAC).
Source: Getty Images
Resilience and the Nigerian business spirit
In her opening address, convener Beady Nnanna praised the resilience of Nigerian entrepreneurs navigating inflation, currency fluctuations, and policy changes.
“The Nigerian business spirit remains resilient. By embracing digital transformation, leveraging local resources, and collaborating purposefully, businesses can thrive even in challenging times,” she said.
Nnanna also unveiled her new book titled “Family: Breaking Unbreakable Ties,” which explores the link between family values, purpose, and business success.
Keynote: SMEs as the backbone of the economy
Delivering the keynote address, Seye Olurotimi, Founder of MSME Africa, highlighted the pivotal role of small and medium-sized enterprises (SMEs) in Nigeria’s economic stability.
“Nigeria’s 40 million MSMEs contribute more than 50% of the GDP and account for about 80% of employment. Without small businesses, no economy can grow,” Olurotimi stated.
He urged business owners to adopt an “opportunity mindset” and leverage innovation and technology to remain competitive amid macroeconomic headwinds.
Policy, health, and technology in focus
Other speakers at the event included Pharm. Obiorah Mbidom, CEO of COSBI Nigeria Ltd, who emphasized the importance of health in entrepreneurship, describing wellness as “a cornerstone of sustainable business success.”
Representing Senator Anthony Adefuye, Hon. Olugbenga Abdullahi commended Beady Nnanna’s consistent contribution to entrepreneurship advocacy over the years.
“If every Nigerian household had one entrepreneur employing two or three people, unemployment would be eradicated,” Abdullahi noted.
He also cautioned entrepreneurs against loans with interest rates above 9% and called for government-backed interventions to support SMEs.
The summit also featured a panel discussion and an AI Advertising masterclass led by Kingsley Ife, who demonstrated how artificial intelligence can improve marketing efficiency and boost SME competitiveness.
Recognizing excellence and impact
Nineteen individuals were recognized for their contributions to business, leadership, and community development. Among the awardees were:
- AIG Adegoke Mustapha Fayoade, Zone 2 Command, Nigeria Police
- Abubakar Dantsoho, Managing Director, Nigerian Ports Authority
- Dr. Chigozie Nweke-Eze, sustainable energy expert
- Chidinma Oli, founder, Inspire Her Afrika
- Comptroller Samuel O. Ariyibi, Nigeria Customs Service
Representatives from NAFDAC attended the event, reinforcing the agency’s support for business compliance and product safety.
Driving partnerships and innovation
The 2025 BSFAA reinforced its mission to build a more resilient SME ecosystem through collaboration and innovation.
Participants commended Beady Nnanna and her team for fostering dialogue between the private sector and policymakers.
Source: UGC
Through platforms like Beady’s World TV and Beady’s Word Blog, Nnanna continues to champion entrepreneurship, digital innovation, and ethical business practices across Nigeria and Africa.
Group launches ₦100,000 grant for petty traders
Legit.ng earlier reported that thousands of small-scale traders across Nigeria are set to benefit from the Petty Traders Grant Support Programme, a new financial empowerment scheme designed to uplift street vendors, market sellers, and micro-entrepreneurs struggling to access capital.
The initiative, which offers ₦10,000 to ₦100,000 in free grants, targets individuals whose livelihoods depend on petty trading, from food vendors and kiosk owners to shoe repairers, tailors, and recharge card sellers.
At the heart of the programme is a simple go-al: to help Nigerians grow self-sustaining businesses without the usual hurdles of collateral, company registration, or complex paperwork.
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Source: Legit.ng
