Former Minister of Finance, Kemi Adeosun, has launched a new platform, Nidacity, aimed at equipping Nigerian entrepreneurs—especially young and female founders—with practical skills, mentorship, and business intelligence to build sustainable ventures.

The platform, which officially went live on Tuesday, is designed as a private-sector educational media hub focused on tackling Nigeria’s high startup failure rate, estimated at about 95 percent within the first five years.

According to Adeosun, the initiative is driven by the urgent need to address the economic and social impact of failed businesses, particularly as small and medium enterprises (SMEs) account for roughly 85 percent of employment in Nigeria.

She noted that while Nigeria has one of the highest rates of entrepreneurship globally, many businesses struggle due to limited access to knowledge, mentorship, and structured support systems.

As part of its rollout, Nidacity is launching a nationwide survey titled “Many Roads,” aimed at documenting the origins and evolution of Nigerian enterprises. The survey seeks to generate data-driven insights into the cultural and structural factors shaping entrepreneurship across the country.

Adeosun explained that the findings would be shared with policymakers, investors, and educators to help strengthen business development strategies and reduce startup failure rates.

The platform is structured around five key pillars: a podcast featuring founder stories, entrepreneur profiles for peer learning, practical business tools, educational content such as webinars and courses, and news analysis to help entrepreneurs navigate the evolving economic landscape.

She emphasised that Nidacity is not a charity initiative but an investment in Nigeria’s entrepreneurial ecosystem, with the potential to significantly boost job creation and economic growth if more businesses are supported to succeed.

Adeosun, an economist and chartered accountant, previously served as Nigeria’s finance minister from 2015 to 2018, where she led key fiscal reforms and economic recovery efforts during a period of low oil prices.