The Delta State Government has taken another decisive step toward inclusive economic expansion by signing a ₦1 billion MSME revolving fund agreement with the Bank of Industry (BoI). This strategic partnership strengthens the state’s resolve to empower entrepreneurs, stimulate job creation, and drive sustainable development across Delta.
The Memorandum of Understanding was signed on Tuesday at the Government House in Asaba. The agreement authorises the Bank of Industry to manage the ₦1 billion fund as a revolving loan facility for micro, small, and medium enterprises across the state. Through this structure, beneficiaries will access affordable financing, while repayments will continuously replenish the fund.
Speaking at the ceremony, Governor Sheriff Oborevwori described the moment as a milestone for his administration. He stated that the partnership reflects a clear commitment to job creation, inclusive growth, and long-term economic stability. According to him, Delta State must continue to invest in its people, especially entrepreneurs who form the backbone of local economies.
Importantly, the Governor emphasised that MSMEs remain critical drivers of employment and innovation. Therefore, supporting them goes beyond policy statements. It requires deliberate financial backing, institutional partnerships, and transparent implementation. This agreement, he noted, brings those elements together.
Moreover, Oborevwori explained that access to finance often limits business growth in Nigeria. Many small businesses struggle with high interest rates and rigid loan conditions. Through the BoI-managed revolving fund, Delta entrepreneurs will now access more flexible and development-focused financing options. Consequently, businesses can expand operations, hire more workers, and improve productivity.
In addition, the Governor stressed that the fund aligns with his administration’s MORE Agenda, which prioritises Meaningful Development, Opportunities for all, Realistic Reforms, and Enhanced Peace and Security. By channeling funds directly into MSMEs, the state promotes shared prosperity and reduces economic inequality.
Transitioning further, officials from the Bank of Industry reaffirmed their readiness to manage the fund professionally. They highlighted BoI’s extensive experience in MSME financing across Nigeria. Through robust risk management, monitoring, and advisory support, the bank aims to ensure that the fund delivers measurable impact.
Furthermore, the BoI team explained that beneficiaries will also receive capacity-building support. This includes financial literacy, business planning guidance, and operational mentoring. Such support, they noted, improves loan performance and strengthens enterprise sustainability.
Meanwhile, stakeholders at the event welcomed the partnership as timely and impactful. They observed that Delta State hosts a vibrant MSME ecosystem, spanning agriculture, manufacturing, services, and creative industries. With improved access to capital, many of these businesses can now scale faster and compete more effectively.
Additionally, the revolving nature of the fund ensures continuity. As loans are repaid, new entrepreneurs will gain access. This cycle promotes long-term impact rather than one-off intervention. Over time, thousands of businesses could benefit, multiplying economic gains across communities.
Governor Oborevwori also assured participants of transparency and accountability. He stated that his administration would closely monitor implementation to ensure fair access and proper utilisation. According to him, public funds must always deliver public value.
Looking ahead, the Governor hinted at plans to expand MSME-focused interventions. He noted that partnerships with credible institutions like BoI remain essential. Through collaboration, Delta State can unlock innovation, strengthen local industries, and build resilience against economic shocks.
In conclusion, the ₦1 billion revolving fund agreement marks a significant boost for MSMEs in Delta State. Through strategic partnership, disciplined management, and people-centred policy, the state continues to position entrepreneurship as a key engine of growth. As financing reaches deserving businesses, Delta moves closer to an economy defined by opportunity, productivity, and inclusive prosperity.
