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Nigeria: Leveraging Partnerships to Bridge Financing Gap for SMEs

Nigeria: Leveraging Partnerships to Bridge Financing Gap for SMEs

Though their contributions are most times unaccounted for, the opportunities in the growth of a healthy, competitive SME sector can only be maximized when there is a strong enterprise culture backed by key enablers in the economy. Driven by its mandate to finance development initiatives, the Bank of Industry (BoI) recently reviewed its strategy in a bid to drive the shift in paradigm for SMEs' growth.
In Nigeria, the truism that "finance follows where enterprise leads" is often Defied as a result of the inability of the real sector to attract adequate finance to itself, especially among micro, small and medium enterprises.

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