British International Investment and First City Monument Bank have unveiled a fifty-million-dollar credit facility designed to strengthen the growth of Micro, Small, and Medium-sized Enterprises in Nigeria. The partners disclosed that the facility will be channelled through the bank for onward lending, with a large portion dedicated to northern Nigeria, where many entrepreneurs continue to struggle with access to capital. The remaining share will support women-led businesses across the country in an effort to expand financial inclusion.
The financing is expected to close gaps that restrict the growth of MSMEs operating in agriculture, trade, manufacturing, and other sectors that carry significant economic potential. By directing capital to communities that have historically been underserved, the collaboration aims to stimulate local productivity, expand opportunities for small enterprises, and strengthen the economic foundation of the northern region. It also reinforces ongoing efforts to deepen access to finance for women entrepreneurs who continue to face structural barriers in mainstream lending systems.
The bank explained that the partnership enhances its capacity to reach more small businesses with affordable credit, noting that recent years have seen a rising demand for flexible funding across the country. It added that widening access to capital will help entrepreneurs build sustainable operations, create employment, and support innovation in markets that remain vital to national development. The collaboration, according to the partners, reflects a shared commitment to boosting prosperity in disadvantaged communities and supporting businesses that hold the potential to reshape local economies.
The development finance institution stressed that its investment aligns with global goals focused on strengthening gender equality, expanding decent work, and driving economic growth. It noted that addressing financing barriers, especially in northern Nigeria, is central to positioning more entrepreneurs for long-term success. The institution emphasised that the facility also supports broader efforts to foster stronger commercial ties between Nigeria and the United Kingdom by building a more resilient, inclusive, and investment-ready private sector.
The initiative comes at a time when the bank has been recognised for its growing role in SME financing nationwide. It has continued to expand lending to thousands of businesses and currently holds one of the strongest portfolios supporting small enterprises in the country. The new partnership is expected to deepen this impact by providing entrepreneurs with the resources they need to scale, innovate, and contribute more meaningfully to Nigeria’s economic transformation.
