By Ahmed Ahmed
The Bank of Industry (BoI) and Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) have formalised a new partnership framework aimed at strengthening Nigeria’s entrepreneurship ecosystem, with a focus on Micro, Small and Medium Enterprises (MSMEs).
The recent agreement reflects a coordinated attempt to address structural constraints limiting business growth, including access to finance, technical capacity, and market integration.
The collaboration spans financing access, enterprise development, capacity building, and market expansion, while incorporating climate finance and renewable energy investment. This alignment places MSMEs within a broader sustainability framework, positioning them as both economic drivers and participants in the transition toward cleaner energy systems.
A core element of the framework is the strengthening of the BoI’s advisory ecosystem. The partnership is expected to enhance the technical and institutional capacity of Business Development Service Providers, improving the quality of support delivered to enterprises. It also includes structured vocational and entrepreneurship training under the ICSS programme, aimed at improving productivity, workforce quality, and competitiveness.
Speaking on the initiative, Managing Director and Chief Executive Officer of the BoI, Mr. Olasupo Olusi said: “This partnership is about closing the gap between enterprise potential and enterprise reality. Too many Nigerian businesses, particularly MSMEs, have the ideas, the drive, and the market opportunity, but lack the financing, technical capacity, or market access needed to scale.
This partnership reflects our unwavering commitment to constantly form new partnerships to strengthen the entrepreneurial ecosystem in Nigeria. By combining our financing expertise with our partner’s international development experience, we are building a comprehensive framework that will directly translate into jobs, innovation, affordable, long-term financing and sustainable growth for MSMEs in Nigeria.”
Also speaking, Country Director of GIZ Nigeria and ECOWAS, Mr. Magnus Wagner, said: “This partnership demonstrates our joint commitments to strengthening Nigeria’s private sector and to advancing sustainable and inclusive economic growth.”
“Through this partnership, we aim to support small and medium enterprises. We are trying more to look at SME, formalised business, which is the resilient backbone of Nigeria’s economy. So, we would like to work, we have decided in areas such as climate and sustainable finance, renewable energy and energy efficiency, entrepreneurship and innovation, women’s economic empowerment, agribusiness and rural transformation, and digital trade and market access,” he also said.
In his words, Magnus said: “We look forward to a close and successful collaboration with the Bank of Industry, one that delivers tangible results for business, communities, and the country and the population as a whole.”
According to him, the agreement also places emphasis on women’s economic empowerment, agribusiness development, and rural enterprise growth, alongside efforts to expand climate-focused investments. These priorities reflect a targeted approach to sectors with high employment and development impact.
In addition, the partnership is expected to support the Bank of Industry’s efforts to secure accreditation with the Green Climate Fund, with technical backing from GIZ. This could expand access to international climate financing and strengthen Nigeria’s capacity to fund renewable energy and energy efficiency projects.
Overall, the BoI–GIZ framework represents a structured attempt to integrate financing, capacity development, and sustainability into a unified support model for MSMEs.
