Ex-Minister Adeosun, others float Nidacity to strengthen startups
By Our Reporter Former Minister of Finance, Mrs. Kemi Adeosun, has established a business platform, Nidacity, for startups to stand on strong pillars that prop them up from failing. The
By Our Reporter
Former Minister of Finance, Mrs. Kemi Adeosun, has established a business platform, Nidacity, for startups to stand on strong pillars that prop them up from failing.
The platform equips Nigeria’s entrepreneurs — particularly young and female founders — with the practical education, mentorship, and timely business intelligence they need to build resilient and thriving businesses.
Nidacity, a private sector educational media platform dedicated to entrepreneurs, officially went live yesterday at www.nidacity.com.
Adeosun, alongside a group of entrepreneurs and professionals, seeks to tackle Nigeria’s 95 per cent startup failure rate through Nidacity – beginning with a landmark national survey on the roots of Nigerian enterprise.
Human cost of startups failure
The former minister noted that the launch of Nidacity became necessary due to the impact of the human cost of startup failures in every community across the country.
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She said: “The timing is urgent. Nigeria has the world’s highest entrepreneurship rate. Yet, as many as 95 per cent of Nigerian startups do not survive beyond five years. With Small and Medium Enterprises (SMEs) accounting for 85 per cent of all employment in the country, the human cost of that failure is felt in every community across the nation.”
The former minister said she found a powerful and actionable opportunity in the same numbers.
Adeosun said: “Nigeria’s entrepreneurs are already doing something extraordinary: they are creating the vast majority of jobs in this country, from the ground up, often with very little support.
“The data tells us something remarkable: if we can help more of these businesses survive and grow, the employment gains for Nigeria will be enormous. Nidacity is not a charity; it is an investment in the people who are already building this economy. Make them better, and everyone benefits.”
The ‘Many Roads’ Survey
The former minister described Nidacity’s first major initiative, the “Many Roads” survey, as a landmark digital survey and living archive of Nigerian enterprise history.
“At its centre is a deceptively simple question: how did the entrepreneurial spirit that defines so many Nigerian households come to be, and why does it endure? ‘Many Roads’ invites Nigerians across the country to contribute the origin stories of their family businesses, collectively mapping the deep cultural and generational roots of Nigerian enterprise over time.
“The resulting dataset will yield original, evidence-based insights into the cultural and structural drivers behind Nigeria’s remarkable entrepreneurial history — insights that have, until now, remained largely undocumented,” she said.
According to her, the survey’s findings will be published on the Nidacity platform and shared with a broad range of stakeholders, including policymakers, educators, investors, and the general public.
She added: “’Many Roads’ will form the evidentiary foundation for Nidacity’s broader mission: to strengthen business education, support enterprise development, and meaningfully reduce the rate of startup failure across Nigeria.”
Adeosun explained that the new platform was structured around five interconnected pillars, each designed to address the specific digital, cultural, and economic realities facing Nigerian entrepreneurs today.
These pillars include: The Builders, Nidacity’s flagship podcast, features in-depth interviews with founders across all stages of the entrepreneurial journey; Entrepreneur Profiles form the foundation of the new initiative’s peer-to-peer learning library; Resources encompass a suite of proprietary tools developed to address the operational challenges most commonly faced by Nigerian SMEs; Education which is delivered through a curriculum of videos, webinars, and micro-courses, providing practical, immediately applicable instruction in core business disciplines, and News Analysis provides Nigerian entrepreneurs with the context and critical tools needed to navigate an evolving business landscape.
Nidacity provides tools, resources, training, and news relevant to entrepreneurs across Nigeria, delivered through digital, audio, and community formats.
