The Bank of Industry (BOI) has partnered with the Plateau State government to launch a ₦4 billion fund aimed at supporting micro, small, and medium enterprises (MSMEs) across the state. The initiative is designed to provide affordable financing to entrepreneurs, enhance business growth, and create employment opportunities in the region.
Under the partnership, MSMEs in Plateau State will have access to low-interest loans, business advisory services, and capacity-building programmes. The funding targets both existing businesses seeking expansion and start-ups in need of capital to kickstart operations. The BOI highlighted that the scheme is part of its broader mandate to stimulate economic development and promote financial inclusion in Nigeria.
Plateau State officials noted that the fund would help empower local entrepreneurs, particularly youth and women, who play a key role in driving grassroots economic growth. By providing access to credit and technical support, the initiative aims to reduce the challenges that many small businesses face, such as limited capital, lack of training, and market access.
The collaboration comes at a time when the government and financial institutions are increasingly focusing on MSMEs as a backbone of the Nigerian economy. With this ₦4 billion fund, BOI and Plateau State hope to foster innovation, boost productivity, and create sustainable jobs that contribute to overall economic stability in the region.
Entrepreneurs interested in accessing the fund are encouraged to meet the eligibility requirements and submit applications through designated channels, where they will receive guidance on business planning and fund utilization.
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