The Bank of Industry (BOI) has taken a strategic step to empower micro, small, and medium enterprises (MSMEs) in Rivers State by hosting a sensitisation workshop in Port Harcourt. The event, held on Tuesday, aimed to raise awareness about the Federal Government’s N75 billion intervention fund and guide business owners on how to access it effectively.
With the Nigerian economy relying heavily on MSMEs for job creation and innovation, the BOI has continued to roll out initiatives to support this critical sector. At the Port Harcourt workshop, the Bank’s Divisional Head for MSMEs in the South-South, Pacqueens Irabor, addressed participants and emphasised the significance of the fund in transforming the fortunes of small businesses.
Irabor explained that the fund was designed to tackle key challenges facing small enterprises, particularly in accessing affordable finance. He stressed that the sensitisation workshop was not only about publicising the fund but also about helping entrepreneurs understand the full process—from eligibility criteria to application and disbursement procedures.
According to Irabor, the Federal Government’s intervention is targeted at MSMEs across Nigeria, with the goal of enhancing productivity, creating jobs, and supporting economic resilience. He added that the fund is also tailored to encourage innovation and sustainability in small businesses.
The workshop was jointly organised by the Port Harcourt Chamber of Commerce, Industry, Mines and Agriculture (PHCCIMA) in collaboration with the Bank of Industry. It attracted a broad spectrum of local entrepreneurs, many of whom have faced long-standing obstacles in accessing capital for expansion and operations.
Participants received detailed briefings on how to qualify for the fund, what documentation is required, and how BOI’s digital platforms can make the process more efficient. Officials also walked attendees through the benefits of business formalisation and maintaining strong financial records.
One of the key takeaways from the workshop was that MSMEs must position themselves not only for funding but for long-term sustainability. BOI encouraged attendees to focus on compliance with financial best practices and to take advantage of the technical assistance available through the Bank and its partners.
Many business owners expressed gratitude for the clarity provided by the session and noted that they now had a better understanding of how to scale their businesses. Some registered for follow-up consultations to continue the process of applying for the fund.
The workshop also included sessions on improving digital visibility, record-keeping, and market access—tools essential for small businesses looking to grow in today’s competitive economy. BOI officials reiterated that these sessions will continue across other regions to ensure equitable access to the N75 billion intervention.
This engagement in Rivers State is part of BOI’s broader nationwide campaign to ensure MSMEs are not left behind in the government’s recovery and development agenda. By creating a platform for direct interaction with small business owners, the Bank is taking practical steps to close the financing gap and promote inclusive growth.
