Former Minister of Finance, Kemi Adeosun, has launched a new private sector platform, Nidacity, aimed at addressing the high failure rate of startups in Nigeria by equipping entrepreneurs with practical knowledge, mentorship, and business intelligence. The digital platform officially went live on Tuesday, March 31, 2026, and is designed to support Nigerian entrepreneurs, particularly young and female founders, in building resilient and sustainable businesses.

Speaking at the launch, Adeosun said the initiative was driven by the urgent need to confront the alarming rate of startup failures in the country, estimated at 95 percent within the first five years. “Nigeria has the world’s highest entrepreneurship rate, yet most businesses do not survive beyond five years,” she said, noting that Small and Medium Enterprises account for about 85 percent of employment, making the human cost of failure deeply felt across communities. Despite this, she described the situation as an opportunity to strengthen the country’s economic base by supporting those already driving job creation. “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 already building this economy,” she added.

As part of its rollout, Nidacity has introduced its first major initiative, the “Many Roads” Survey, a nationwide digital project aimed at documenting the origins and evolution of Nigerian entrepreneurship. According to Adeosun, the survey seeks to answer how Nigeria’s deeply rooted entrepreneurial culture emerged and continues to thrive across generations, with findings expected to generate data driven insights into the structural and cultural drivers of enterprise. She noted that the results will be shared with policymakers, investors, educators, and the public, and will form the foundation for improving business education and reducing startup failure rates nationwide.

Nidacity is structured around five key pillars: The Builders podcast featuring conversations with entrepreneurs; Entrepreneur Profiles offering peer learning opportunities; Resources providing tools for operational challenges; Education delivering practical training through digital courses and webinars; and News Analysis helping entrepreneurs navigate the evolving business environment. The platform delivers its content through digital, audio, and community based formats tailored to Nigeria’s unique economic realities.

Adeosun, an economist and chartered accountant with over three decades of experience, served as Nigeria’s finance minister from 2015 to 2018, where she implemented fiscal reforms and helped steer the country through an economic recession. She is also the founder of the Dash Me Foundation, a social enterprise focused on supporting vulnerable communities. With the launch of Nidacity, she said she hopes to provide Nigerian entrepreneurs with the tools, knowledge, and support needed to build enduring businesses and drive inclusive economic growth.