NWDC, BoI Partner to Accelerate Industrialisation, Support MSMEs Financing

NWDC, BoI Partner to Accelerate Industrialisation, Support MSMEs Financing

By Lawal Dahiru Mamman

The North-West Development Commission (NWDC) has begun talks with the Bank of Industry (BoI) on a strategic partnership to accelerate industrialisation and expand access to finance for businesses across the seven states of North-West Nigeria.

Both institutions said the collaboration will focus on a coordinated regional enterprise development framework to address limited access to affordable finance, low industrial activity, and youth and women unemployment in the region.

The Managing Director of NWDC, Professor Shehu Abdullahi Ma’aji, said the North-West remains Nigeria’s major agricultural and commercial corridor, linking Lagos to Kano and onward to North African markets.

He noted that unlocking the region’s potential will require structured financing for Micro, Small and Medium Enterprises (MSMEs) and industries.

“The North-West is Nigeria’s major agricultural and commercial corridor, linking Lagos to Kano and onward to Jibia and key North African markets. However, we cannot unlock this potential without structured financing for our MSMEs and industries.

“NWDC is committed to working with BoI to move from fragmented interventions to a scalable, regional development finance platform that serves our people,” Ma’aji said.

The Executive Director for MSMEs at BoI, Mr Oluwatoyin A. Edu, said the bank is prioritising inclusive industrial development through partnerships with subnational governments.

He disclosed that BoI and the Zamfara State Government are at an advanced stage of signing an MoU next month for a ₦7.5 billion management fund and a ₦3 billion matching fund.

“We are delighted to be here to present a proposal for partnership with NWDC. BoI is already…