Benue Government, BOI Sensitise Stakeholders on N200bn Presidential Fund for MSMEs and Manufacturing Growth

The Benue State Government, in collaboration with the Bank of Industry (BOI), has launched a stakeholder sensitisation drive on the N200 billion Presidential Intervention Fund aimed at empowering Micro, Small, and Medium Enterprises (MSMEs) and boosting Nigeria’s manufacturing sector.

Speaking at a town hall meeting held in Makurdi on Saturday, May 3, the Managing Director and Chief Executive Officer of BOI, Dr. Olasupo Olusi, described the initiative as a transformative intervention by President Bola Ahmed Tinubu’s administration to strengthen economic inclusion and industrial revitalisation.

“This programme is not just a policy directive but an investment in Nigeria’s future,” Olusi stated, commending the visionary leadership of President Tinubu and the strategic oversight of Vice President Kashim Shettima. He emphasised the critical role of MSMEs, which account for 96% of businesses, 84% of employment, and contribute nearly 50% of the country’s Gross Domestic Product (GDP), despite being hampered by funding and operational hurdles.

Dr. Olusi revealed that over N107 billion has already been disbursed to nearly 900,000 beneficiaries across Nigeria’s six geopolitical zones. “In Benue State alone, we have reached more than 27,010 beneficiaries with a financial impact exceeding N1.35 billion,” he added.


Read also: BoI Disburses N2.25 Billion to Over 16,000 MSMEs in Gombe, Reinforcing National Economic Growth Drive

The intervention includes the N50 billion Presidential Conditional Grant Scheme (PCGS) designed for one million nano businesses, providing non-repayable N50,000 grants across all 774 local government areas. The scheme targets 70% of the support towards women and youth. Additionally, the N75 billion MSME Loan Scheme and N75 billion Manufacturing Sector Fund are structured to help businesses scale and support large-scale manufacturing operations.

Benita Shuluwa, Director General of the Bureau for Entrepreneurship and Wealth Creation, applauded Governor Hyacinth Alia’s commitment to youth and enterprise development. She encouraged entrepreneurs to take advantage of the funding opportunities, stressing that small-scale businesses are vital to economic growth. “Since our bureau was established 18 months ago, we have been committed to job creation and attracting sustainable investment,” she noted.

Dr. Olusi urged all stakeholders to support the initiative through active participation and advocacy. “We must build a nation where industries flourish, local production meets global standards, and enterprises are equipped for success,” he concluded