Plateau State and the Bank of Industry (BOI) have teamed up to inject N4 billion into Micro, Small and Medium Enterprises (MSMEs), a move aimed at stimulating businesses, creating jobs, and strengthening the state’s economy.
The partnership was sealed through a Memorandum of Understanding signed at the Government House in Jos, with both parties contributing equally to the matching fund. The initiative will support business owners with financing for equipment and working capital, particularly targeting women and young entrepreneurs.
Governor Caleb Mutfwang described the agreement as a major milestone, saying it would help Plateau expand its contribution to Nigeria’s GDP while aligning with President Bola Tinubu’s vision of building a $1 trillion economy. He assured that the programme would be implemented transparently and benefit businesses across the state.
BOI Managing Director Olasupo Olusi commended Plateau’s progress in improving its business environment and said the bank would also provide training and capacity building for beneficiaries through accredited Entrepreneurship Development Centres.
The initiative will support value-chain development in sectors such as poultry, block making, rice and oil milling, agro-mechanisation, packaging, pharmaceuticals, bakery and confectionery, among others.
Stakeholders say the fund is expected to unlock growth opportunities for small businesses and deepen inclusive economic development across Plateau State.
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