Bank Of Industry And Plateau State Government Launch N4bn Matching Fund To Empower MSMEs And Drive Industrialization

Plateau State signs a N4bn matching fund deal with the Bank of Industry to support women and youth-led MSMEs with single-digit interest loans. Read the 2026 MoU details.

By: AXL Media

Published: Mar 12, 2026, 6:16 AM EDT

Source: The information in this article was sourced from PUNCH

A Blueprint for State-Wide Prosperity

In a major move to revitalize the local economy, the Bank of Industry (BOI) and the Plateau State Government officially inked a N4bn industrial support deal on Wednesday, March 11, 2026. The agreement, signed by Executive Governor Caleb Manasseh Mutfwang and BOI Managing Director Dr. Olasupo Olusi, establishes a "BOI-PLSG" matching fund designed to catalyze growth for small businesses across all 17 local government areas. Both parties are contributing N2bn each to create a pool of capital that will offer affordable, long-term financing to local entrepreneurs.

Targeting High-Impact Demographics

Governor Mutfwang emphasized that the fund is a critical component of a broader vision to align Plateau State with President Bola Tinubu’s goal of building a $1 trillion national economy. A primary focus of this intervention is the empowerment of women and youth, who represent the state’s most vibrant but often underfunded demographics. By providing access to capital at single-digit interest rates, the state aims to lower the barrier to entry for innovative startups and help existing small businesses scale their operations sustainably.

BOI’s Proven Track Record in Plateau

The Bank of Industry is no stranger to the Plateau economic landscape. Since 2020, the BOI has disbursed over N8.46bn to 257 enterprises within the state, supporting a mix of MSMEs and large-scale industrial players. Dr. Olasupo Olusi praised the state’s recent administrative reforms, noting that Plateau’s improved ranking on the Ease of Doing Business index has made it an increasingly attractive destination for institutional investment. These reforms have laid the necessary groundwork for private sector participation to thrive.