The Bank of Industry (BOI) and United Nations Development Programme (UNDP) have signed a three-year agreement to boost enterprise growth and inclusive industrialisation in Nigeria.

This is contained in a statement jointly signed by Christabel Ginsberg, public engagement, outreach and partnerships lead at UNDP Nigeria, and Theodora Amechi, BOI’s divisional head of public relations, on Wednesday in Abuja.

“The partnership is anchored on a three-year Memorandum of Understanding (MoU) signed to expand economic opportunities for women and young people.

“The agreement seeks to improve Nigerian enterprises’ competitiveness, access to finance and markets, and participation in national and regional value chains,” the statement added.

According to the statement, under the agreement, both institutions will support micro, small and medium-sized enterprises, manufacturing, agro-processing, and value chains connecting producers, processors and markets.

“The collaboration will also promote trade competitiveness and help Nigerian businesses explore opportunities under the African Continental Free Trade Area (AfCFTA).

“Other areas of cooperation include youth skills development, employability, entrepreneurship, innovation and women’s economic empowerment, with particular attention to underserved communities.

“The partnership will further cover digital inclusion, the creative economy, renewable energy, climate resilience, environmental sustainability and infrastructure supporting industrial development.

“Both institutions will identify joint priorities, coordinate implementation and review progress regularly, while developing initiatives that support enterprise growth and the Sustainable Development Goals,” it said.

The statement noted that the renewed partnership was expected to strengthen Nigerian enterprises as drivers of job creation, economic diversification and sustainable development.

UNDP Nigeria resident representative, Elsie Attafuah, said the partnership reflected a shared belief in the role of enterprises in driving national prosperity.

“UNDP and the Bank of Industry share a simple conviction: Nigeria’s prosperity will be built by its enterprises,” she said.

Ms Attafuah highlighted the need to support businesses at different stages of growth, including farmers venturing into agro-processing and women expanding manufacturing businesses.

She also identified the need to help Nigerian producers access markets beyond the country’s borders.

BOI managing director, Olasupo Olusi, said the partnership would combine the bank’s development financing capacity and enterprise networks with UNDP’s technical expertise and global partnerships.

“Together, we will develop practical interventions that strengthen businesses, expand productive opportunities and support sustainable economic growth,” Mr Olusi said.

He said the partnership grew from engagements initiated in 2025 to explore how both institutions could combine their strengths to address Nigeria’s development priorities.

Mr Olusi said financing must be complemented by technical expertise, market access, innovation and strong implementation partnerships to deliver lasting development outcomes.

 (NAN)