Governor Caleb Mutfwang of Plateau State has signed a ₦4 billion Memorandum of Understanding (MoU) with the Bank of Industry (BOI) to establish a matching fund aimed at strengthening Micro, Small and Medium Enterprises (MSMEs) across the state.

The agreement, signed at the Old Government House, is designed to expand access to affordable financing for entrepreneurs while promoting enterprise development, job creation and poverty reduction, particularly among women and young people.

Speaking during the signing ceremony, Governor Mutfwang described the MSME matching fund deal as a strategic intervention to broaden livelihood opportunities and build a more resilient and inclusive economy.

He noted that the MSME matching fund deal aligns with the economic vision of Bola Ahmed Tinubu to transform Nigeria into a one-trillion-dollar economy.

According to the governor, Plateau State has significant economic potential and remains committed to contributing meaningfully to national growth through enterprise development and innovation.

The fund, he explained, will provide affordable financing for equipment acquisition and working capital, enabling businesses to expand operations, create jobs and strengthen local value chains.

“We want to increase Plateau State’s contribution to the national GDP, and the most effective way to achieve this is by stimulating business growth,” Mutfwang said.

“We will identify innovative and enterprising businesses across the state, with particular focus on women and young people, ensuring that no part of Plateau is left behind.”

Also speaking at the event, the Managing Director of the Bank of Industry, Olasupo Olusi, commended the governor for what he described as a visionary initiative aimed at empowering entrepreneurs and fostering sustainable economic development.

Olusi explained that beyond funding, the partnership will also provide training and capacity-building programmes for beneficiaries through accredited Entrepreneurship Development Centres to equip MSMEs with the skills needed to grow and remain competitive.

He said the BOI–Plateau State Government Matching Fund is structured to expand access to affordable, long-term financing for MSMEs operating across the state.

According to him, the fund will provide single-digit interest rate financing to eligible businesses, support equipment acquisition and working capital needs, and offer loans of up to ₦100 million per beneficiary.

He added that the facility will have a loan tenure of up to five years, including a moratorium period of up to 12 months after disbursement.

Olusi noted that the collaboration between BOI and the Plateau State Government is expected to strengthen the state’s business environment, stimulate job creation, deepen local value chains and unlock sustainable growth opportunities for MSMEs across Plateau.

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