BOI and Plateau State Sign N4bn Fund for MSMEs

On Tuesday, a memorandum of understanding was signed between the Bank of Industry (BOI) and Plateau State to establish a N4 billion matching fund designed to enhance micro, small, and medium enterprises (MSMEs) in the state. The signing ceremony took place at the Governor's House, with Plateau State Governor Caleb Mutfwang expressing optimism about the partnership's potential to contribute significantly to the state's economy and Nigeria's overall GDP.

Mutfwang emphasized the importance of supporting women and youth in business, stating that the fund would help identify and support enterprises in these demographics. BOI Managing Director Olasupo Olusi commended Plateau's business environment and encouraged continued collaboration to improve the state's ease of doing business index.

The initiative aims to stimulate economic growth and create jobs, aligning with President Bola Tinubu's vision for a trillion-dollar economy in Nigeria. The fund will focus on various sectors, including agriculture, pharmaceuticals, and food production, to unlock sustainable growth opportunities.