Business and finance experts have highlighted the vital connection between collaboration and financial growth for small and medium-sized enterprises (SMEs), deeming it a survival strategy in Nigeria’s rapidly changing economy.
This was the main message at the Business Financial Conference, themed “Building Bridges, the power of collaboration,” recently held in Lagos and organised by Oladimeji Oke, CEO of Xtrathinktank Solutions.
In his speech titled “The VUCA Economy,” Mr. Oke described today’s business environment as volatile, uncertain, complex, and ambiguous, encouraging entrepreneurs to forge intentional partnerships as a way to build resilience.
“The environment is complex, and that is why the only thing that can help you in a complex society is collaboration,” he said. “If you run a small or medium enterprise in Nigeria, you must become more intentional about financial intelligence, transparency, and partnership to stay compliant and competitive in our changing fiscal landscape.”
According to Oke, the conference was organised as a means of “giving back to society” while also promoting knowledge sharing through the launch of his new book, The Complete SME Guide II—a manual that explains Nigeria’s 2026 Finance Tax Act and its implications for business owners.
Co-founder of Pertinence Group, Dr. Sunday Olorunsheyi, described collaboration as “the engine that drives the future.”
“In the new economy, those who collaborate will outlast those who compete,” he said, noting that organisations must build on the four pillars of collaboration: trust, alignment, clarity, and mutual value.
Leadership coach, Mr. Niyi Adesanya, in his presentation, added that business success depends on strategic alliances.
“Sometimes it is not money that grows a business. Use money to build collaboration because money will always bow to power,” he stated. He also stressed the importance of having professionals such as accountants, lawyers, and industry leaders in every entrepreneur’s network.
A panel session moderated by Bosede Olusola-Obasa further explored how collaboration drives innovation and learning. Panellists Dr. Oseni Olalekan and Tope Mark-Odigie (TMO) noted that collaboration shortens the path to success and fosters shared growth.
“Collaboration isn’t a choice; it is mandatory for growth,” Mark-Odigie said, while Dr. Olalekan added, “Let others’ results motivate, not intimidate you. The only way to stay afloat is to collaborate with the right people.”
Entrepreneur Prudent Okopi also urged participants to build a structure and stay generous, reminding business owners that a clear vision and values attract opportunities for collaboration.
The event concluded with the launch of The Complete SME Guide II, unveiled by Mr. Wisdom Ezekiel, who also encouraged entrepreneurs to make reading a part of their corporate culture.
