BOI, Plateau State Unveil ₦4bn Fund for Small Businesses
The Bank of Industry has partnered with the Plateau State Government to establish a ₦4 billion funding programme targeted at small businesses.
This development is a move aimed at stimulating enterprise development and expanding access to financing.
The partnership, sealed through a Memorandum of Understanding, creates a matching fund designed to provide affordable loans to Micro, Small and Medium Enterprises across the state. Under the arrangement, both the Bank of Industry and the Plateau State Government will contribute ₦2 billion each, forming a financing pool intended to stimulate business activities in all 17 local government areas.
Governor Caleb Mutfwang described the initiative as a strategic intervention to strengthen entrepreneurship and unlock new economic opportunities for residents. He noted that empowering small businesses remains a powerful pathway to job creation, poverty reduction and sustainable economic growth.
Through the scheme, entrepreneurs will gain access to long-term loans at single-digit interest rates, enabling them to invest in equipment, expand operations and improve productivity. The programme is also structured to support women-led and youth-driven enterprises, helping to foster inclusive participation in the state’s economy.
Managing Director and Chief Executive Officer of the Bank of Industry, Olasupo Olusi, said the collaboration reflects the bank’s broader commitment to deepening financial access for Nigerian businesses. He added that recent economic reforms and investment-friendly policies in Plateau State have made it an attractive destination for development financing.
Beyond funding, beneficiaries will also receive training and mentorship through accredited entrepreneurship development centres, equipping them with the skills needed to strengthen operations and scale sustainably.
Officials say the initiative is expected to energise local industries, reinforce value chains and accelerate job creation, positioning small businesses as a central driver of economic progress in Plateau State and beyond.
