On the 10th March 2026, the Plateau State Government took a major step toward strengthening the state’s business environment with the signing of a ₦4 billion Matching Fund Memorandum of Understanding (MoU) with the Bank of Industry (BOI). The agreement represents a strategic partnership aimed at improving access to finance for Micro, Small and Medium Enterprises (MSMEs) across Plateau State.
The MoU was signed by His Excellency, Barr. Caleb Manasseh Mutfwang, the Executive Governor of Plateau State, and the Managing Director/Chief Executive Officer of the Bank of Industry, Dr. Olasupo Olusi.
The initiative will be coordinated by the Plateau State Microfinance Development Agency (PLASMIDA), which will play a central role in implementing the programme and supporting entrepreneurs who benefit from the fund.
The overview of the Matching Fund
Under the agreement, the Bank of Industry will contribute ₦2 billion, while the Plateau State Government will provide a matching contribution of ₦2 billion. The combined ₦4 billion fund is expected to significantly expand financing opportunities for MSMEs, enabling them to grow, create jobs, and contribute more effectively to the state’s economic development.
The matching fund structure reflects a strong commitment from both the state government and BOI to build a sustainable financing platform that empowers entrepreneurs and strengthens the local economy.
The signing ceremony took place at the Government House in Jos and was attended by key government officials and stakeholders. Among those present were the Secretary to the State Government and Chairman of the Plateau State Ease of Doing Business Council, Arc. Samuel N. Jatau; the Director General of PLASMIDA, Hon. Bomkam Ali Wuyep; members of the Plateau State Executive Council; and several Special Advisers. Their presence underscored the administration’s commitment to creating an enabling environment for businesses and promoting economic growth within the state.
In his remarks, Governor Caleb Mutfwang described the agreement as a significant milestone in the state’s economic development journey. He emphasized that supporting businesses remains a key strategy for boosting Plateau State’s contribution to Nigeria’s national Gross Domestic Product (GDP). The Governor also noted that strengthening the MSME sector aligns with the broader national vision of building a one trillion-naira economy. He expressed appreciation to Dr. Olasupo Olusi for personally travelling from Lagos to finalize the partnership and reaffirmed the government’s commitment to ensuring the successful implementation of the programme.
Governor Mutfwang further stated that PLASMIDA will coordinate the programme and ensure that the benefits of the fund reach entrepreneurs across all parts of the state in an inclusive and transparent manner.
Speaking at the event, the Managing Director and Chief Executive Officer of the Bank of Industry, Dr. Olasupo Olusi, highlighted the positive impact of BOI’s previous interventions in Plateau State. He shared that him and his team visited several businesses and projects that had previously benefited from BOI support and expressed satisfaction at seeing how these enterprises are creating jobs and empowering communities. Dr. Olusi also commended the Plateau State Government for its ongoing efforts to restore peace, strengthen governance, and revitalize economic activities within the state. According to him, these efforts have helped improve the state’s investment climate and contributed to its recognition through the Silverbird Governor of the Year 2025 Award. He further acknowledged the state’s progress in the Ease of Doing Business ranking as reported by the Presidential Enabling Business Environment Council (PEBEC), describing the MoU as an important step toward expanding access to finance for entrepreneurs.
The Plateau State Microfinance Development Agency (PLASMIDA) will serve as the coordinating institution for the programme. In addition to facilitating access to the matching fund, the agency will provide targeted training programmes, enterprise development support, and structured capacity-building initiatives.
These efforts are designed to ensure that entrepreneurs who access the fund have the necessary skills and knowledge to build, manage, and scale sustainable businesses.
The signing of the ₦4 billion Matching Fund MoU between the Plateau State Government and the Bank of Industry marks a significant milestone in the state’s efforts to empower entrepreneurs and stimulate economic growth. By combining financial support with capacity development and institutional coordination through PLASMIDA, the initiative is expected to create new opportunities for MSMEs and strengthen the foundation for a more vibrant and inclusive Plateau economy.
As implementation begins, the programme holds strong potential to support business expansion, generate employment, and foster long-term economic prosperity across Plateau State.
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