Stakeholders in the small and medium business interest group have urged entrepreneurs to adopt an “opportunity mindset” and leverage technological innovation to navigate economic turbulence.
Speaking at the just concluded 6th Edition of the Business Summit, Fair, and Award (BSFAA) held in Lagos, speakers from different segments of the economy discussed ways of leveraging opportunities to grow SMBs in Nigeria.
The event brought together, small and medium entrepreneurs, policymakers, regulators, and innovators from across Nigeria.
In his keynote presentation, Founder of MSME Africa, Mr. Seye Olurotimi, emphasised the strategic importance of SMEs to Nigeria’s economy.
According to him: “Nigeria’s 40 million Micro, Small, and Medium Enterprises contribute over 50% to the GDP and account for about 80% of employment. Without small businesses, no economy can grow,” he stated.
In her opening remarks, Convener of BSFAA and CEO of Beady’s Word Productions, Beady Nnanna, commended the resilience of Nigerian entrepreneurs despite economic challenges.
“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.
CEO of COSBI Nigeria Limited, Pharm. Obiorah Mbidom, spoke on the importance of maintaining good health while pursuing business goals, describing wellness as a cornerstone of sustainable success.
Representative of Senator Anthony Adefuye, Hon. Olugbenga Abdullahi, lauded Beady Nnanna for six years of consistent impact and entrepreneurship advocacy in Nigeria.
“If every Nigerian household had one entrepreneur employing two or three people, unemployment would be eradicated, and Nigeria would become a global economic powerhouse,” he said.
He also cautioned SMEs against taking loans with interest rates exceeding 9% and urged the government to create more favorable conditions for small businesses to thrive.
The summit featured a panel session and an AI Advertising training led by Mr. Kingsley Ife, a Business Developer and AI Content Trainer, who demonstrated how artificial intelligence can revolutionise digital marketing and improve SME competitiveness practically during the summit
Organised by Beady’s Word Productions and convened by Beady Nnana, BSFAA has, over the past six years, become one of Nigeria’s leading platforms for empowering Small and Medium Scale Enterprises (SMEs), fostering innovation, and promoting a business-friendly environment in Nigeria.
The 2025 edition, themed “Thriving Beyond Economic Instability,” was sponsored by Zenith Bank and witnessed the participation of key industry stakeholders, including representatives from the National Agency for Food and Drug Administration and Control (NAFDAC), reaffirming the summit’s credibility and regulatory engagement.
Nnanna also used the occasion to launch her new book, “Family: Breaking Unbreakable Ties,” an inspiring guide on strengthening family values and purpose-driven living to aid good business.
A highlight of the event was the award ceremony, which honored 19 distinguished individuals for their outstanding contributions to business, leadership, and community development.
Awardees included: Assistant Inspector General of Police, Zone 2 Command (Lagos & Ogun States), AIG Adegoke Mustapha Fayoade; Managing Director, Nigerian Ports Authority (NPA), Abubakar Dantsoho; Expert in Sustainable Energy and Resource Conservation, Dr. Chigozie Nweke-Eze; Nigeria Customs Service, Lilypond Export Command, Comptroller Samuel O. Ariyibi; and Founder and Executive Officer, Inspire Her Afrika (IHA), Chidinma Oli, among others
Representatives from NAFDAC were also in attendance, reinforcing the agency’s support for business compliance, product safety, and regulatory standards.
Prominent media personalities such Jerry Aguigbo president of maritime journalist association of Nigerian. Evelyn OgbeneAkpa (model, journalist, and actress) and Chief CFC Obi, renowned business mogul, were also present.
This year’s summit, powered by Zenith Bank, reinforced BSFAA’s commitment to building a robust SME ecosystem through partnership, mentorship, and innovation.
Participants commended Beady Nnanna and her team for a well-organized, inclusive, and impactful event that continues to inspire entrepreneurs across Nigeria and Africa.
Through platforms like Beadys World TV on YouTube and BeadysWord Blog News, Nnanna continues to advocate for economic empowerment, digital innovation, and business ethics.
The Business Summit, Fair, and Award (BSFAA) is an annual event organised by Beady’s Word Production to advocate for friendly environment of doing business in Nigeria, to support and recognise Nigerian entrepreneurs. The summit provides a platform for training, networking, and celebrating innovation across various industries while promoting policies that encourage business growth and sustainability.
