Bank of Industry (BOI), Nigeria’s foremost Development finance institution and a globally recognised organisation specialising in international development cooperation with countries, the German Agency for International Cooperation (GIZ), on Wednesday April 15, 2026, signed a Partnership Framework Agreement to drive sustainable innovation and economic development for large enterprise, and Micro, Small and Medium Enterprises (MSMEs) sector in Nigeria.

The partnership is hinged on delivering coordinated interventions across key strategic pillars including access to finance, entrepreneurship development, capacity building, and market access; and integrates focused support for climate finance and renewable energy investments; and a robust alignment with global sustainability priorities that enables MSMEs to as engines of economic development.

With this landmark agreement, BOI and GIZ are positioned to mutually ensure that capacity building efforts for businesses focuses on strengthening the technical and institutional capabilities of BOI’s Business Development Service Providers (BDSPs), equipping them to deliver higher-impact advisory services to the Bank’s customers; as well as enshrine a structured vocational training provided under the ICSS (Inspire, Create, Start and Scale) entrepreneurship programme to enhance productivity, workforce quality and overall business competitiveness to MSMEs.

The central pillar of this year’s partnership framework is it women’s economic empowerment through targeted financing initiatives; agribusiness development and rural enterprise growth; and climate-focused investment imperative to scale its renewable energy and energy efficiency financing portfolio.

BOI will strategically deepen its efforts to secure endorsement with the Green Climate Fund (GCF) with support from GIZ, a German-led development agency.

Speaking at the announcement ceremony, Olasupo Olusi, MD/CEO, Bank of Industry (BOI), 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.”

In his remarks, Magnus Wagner, Country Director, GIZ Nigeria and ECOWAS, 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, formalized 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.

“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”.

Ifeoma Okeke-Korieocha is the Aviation Correspondent at BusinessDay Media Limited, publishers of BusinessDay Newspapers. She is also the Deputy Editor, BusinessDay Weekender Magazine, the Saturday Weekend edition of BusinessDay. She holds a BSC in Mass Communication from the prestigious University of Nigeria, Nsukka and a Masters degree in Marketing at the University of Lagos. As the lead writer on the aviation desk, Ifeoma is responsible and in charge of the three weekly aviation and travel pages in BusinessDay and BDSunday. She also overseas and edits all pages of BusinessDay Saturday Weekender. She has written various investigative, features and news stories in aviation and business related issues and has been severally nominated for award in the category of Aviation Writer of the Year by the Nigeria Media Nite-Out awards; one of the Nigeria’s most prestigious media awards ceremonies. Ifeoma is a one-time winner of the prestigious Nigeria Media Merit Award under the 'Aviation Writer of the Year' Category. She is the 2025 Eloy Award winner under the Print Media Journalist category. She has undergone several journalism trainings by various prestigious organisations. Ifeoma is also a fellow of the Female Reporters Leadership Fellowship of the Wole Soyinka Centre for Investigative Journalism.

Join BusinessDay whatsapp Channel, to stay up to date

Open In Whatsapp