Plateau, BOI sign N4 billion MOU to strengthen MSMEs

Bank of Industry and the Plateau government have signed a memorandum of understanding establishing a N4 billion matching fund to boost micro, small and medium enterprises. The MoU was signed on Tuesday evening at the Government House, Jos.

The money, to be co-funded equally by both parties, is intended to finance equipment and working capital to accelerate job creation, strengthen the local value chain, and deepen inclusive economic growth in the state.

Governor Caleb Mutfwang, who expressed joy over the development, noted that, beyond boosting the state’s economy, the partnership would help Plateau contribute its quota to the national GDP and align with President Bola Tinubu’s $1 trillion economic vision for Nigeria.

Mr Mutfwang, who also assured the BOI team that the project would be judiciously executed, disclosed that the beneficiaries would be largely women and youths.

“I want to assure you that the agency in charge will ensure that this covers the entire state and nobody is excluded. This is going to be a seed capital that will give back to multiples of billions of Naira in the near future,” the governor said.

The BOI boss, Olasupo Olusi, who commended Plateau’s ratings in the Ease of Doing Business index, said the bank was pleased to continue growing its presence through such collaborations.

Mr Olusi said the fund would ensure training and capacity-building programmes for beneficiaries in collaboration with accredited Entrepreneurship Development Centres. NAN