The Bank of Industry (BOI), Nigeria’s leading development finance institution, has entered into a strategic partnership with the German Agency for International Cooperation (GIZ) to promote sustainable innovation and economic growth across large enterprises and Micro, Small and Medium Enterprises (MSMEs) in Nigeria.
The partnership agreement, signed on Wednesday, April 15, 2026, is designed to deliver coordinated interventions in key areas including access to finance, entrepreneurship development, capacity building, and improved market access. It also places strong emphasis on climate finance, renewable energy investments, and alignment with global sustainability goals to strengthen MSMEs as drivers of economic growth.
Under the framework, BOI and GIZ will collaborate to enhance the technical and institutional capacity of Business Development Service Providers (BDSPs), enabling them to offer more effective advisory support to businesses. The agreement also includes structured vocational training through the ICSS (Inspire, Create, Start and Scale) entrepreneurship programme, aimed at improving productivity, workforce skills, and overall competitiveness of MSMEs.
A key focus of the partnership is women’s economic empowerment through targeted financing initiatives, alongside support for agribusiness development, rural enterprise expansion, and climate-focused investments. The collaboration will also help expand BOI’s renewable energy and energy efficiency financing portfolio, as well as support efforts to secure endorsement from the Green Climate Fund (GCF), with GIZ’s assistance.
Speaking at the signing ceremony, BOI Managing Director and CEO, Dr. Olasupo Olusi, said the partnership is intended to bridge the gap between entrepreneurial potential and actual business growth in Nigeria.
“This partnership is about closing the gap between enterprise potential and enterprise reality,” Olusi said. “Many Nigerian businesses have the ideas and drive but lack access to finance, technical capacity, and market opportunities needed to scale. By combining BOI’s financing expertise with international development experience, we are building a framework that will create jobs, drive innovation, and support sustainable MSME growth.”
Also speaking, GIZ Nigeria and ECOWAS Country Director, Dr. Magnus Wagner, said the collaboration reflects a shared commitment to strengthening Nigeria’s private sector and promoting inclusive economic development.
He noted that the partnership will focus on climate finance, renewable energy, entrepreneurship, women’s empowerment, agribusiness, rural transformation, and digital trade, adding that the goal is to deliver tangible benefits for businesses and communities across the country.
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