The Acting Executive Director of Commercial Solutions at Zedvance, Ayooluwa Oladimeji, has stated that the growth of Small and Medium-scale Enterprises in Nigeria is heavily dependent on access to liquidity.
He stressed that improved financing remains critical to unlocking business expansion and driving economic productivity.
Oladimeji stated this during a live interview monitored by our reporter with ARISE News on Wednesday, identifying access to finance as one of the most pressing challenges confronting Nigerian businesses, particularly within the SME sector. He emphasised that without adequate liquidity, many business ideas and expansion plans remain stalled, limiting their potential contribution to national economic growth.
“Nigeria’s SME growth depends on access to liquidity,” he said, noting that funding remains the backbone of enterprise development.
Oladimeji explained that Zedvance’s expansion into commercial lending was a strategic move to support growth-stage businesses, building on the firm’s longstanding experience in consumer lending. He noted that this pivot was influenced by a combination of lending expertise, emerging economic opportunities, and the company’s robust internal capabilities in technology and risk management.
Over the past 18 months, the firm has recorded significant progress, disbursing nearly N100bn to businesses across various sectors. Despite this milestone, Oladimeji pointed out that this figure represents only a small fraction of the total market demand. He estimated Nigeria’s SME financing gap to be between N75tn and N90tn.
Highlighting the role of innovation, Oladimeji noted that technology is essential to improving lending efficiency. He explained that Zedvance deploys tools such as artificial intelligence to assess creditworthiness and streamline operations. He also stressed that fintech firms provide much-needed agility and flexibility to the financial landscape, offering tailored solutions that align with the real-world cash flow of local businesses.
Beyond general financing, he identified green mobility, agro-processing, and the digital services economy as critical growth sectors for investment and expansion.
Oladimeji maintained that bridging Nigeria’s SME financing gap will require sustained innovation and improved access to capital, reiterating that liquidity remains the essential engine for driving business growth and strengthening the broader economy.
