Nigeria’s Bank of Industry (BOI) has entered into a strategic partnership with the German Agency for International Cooperation (GIZ) to promote sustainable business development and economic growth across the country.
The agreement, signed on April 15, 2026, is designed to support large enterprises as well as Micro, Small and Medium Enterprises (MSMEs) through targeted interventions. Key focus areas include improved access to finance, entrepreneurship development, capacity building, and expanded market opportunities. The collaboration also prioritises climate finance and renewable energy investments, aligning with global sustainability goals.
Under the framework, both organisations will strengthen the capabilities of BOI’s Business Development Service Providers (BDSPs), enabling them to offer more effective advisory services to businesses. The partnership will also enhance vocational training under the ICSS (Inspire, Create, Start and Scale) programme to boost productivity, workforce quality, and competitiveness among MSMEs.
A major highlight of the initiative is its emphasis on women’s economic empowerment, agribusiness development, and rural enterprise growth. It also seeks to expand investments in renewable energy and energy efficiency.
As part of the collaboration, BOI will work towards securing accreditation from the Green Climate Fund (GCF), with technical support from GIZ.
Speaking at the signing ceremony, BOI Managing Director/CEO, Dr. Olasupo Olusi, said the partnership aims to bridge the gap between business potential and real growth, particularly for MSMEs that struggle with limited funding and technical expertise. He noted that combining BOI’s financing strength with GIZ’s development experience would help drive job creation, innovation, and sustainable economic expansion.
GIZ Country Director for Nigeria and ECOWAS, Dr. Magnus Wagner, described the agreement as a commitment to strengthening Nigeria’s private sector. He added that the collaboration would focus on key areas such as sustainable finance, renewable energy, entrepreneurship, women’s empowerment, agribusiness, and digital trade, with the goal of delivering measurable impact for businesses and communities.
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