The Bank of Industry (BoI) has partnered with Ecobank Nigeria to aid financial intermediation services to Small and Medium Enterprises as part of measures to drive inclusive growth and development in the country.

The Acting Managing Director, BoI, Waheed Olagunju, explained that the partnership is aimed at providing the necessary support required to encourage SMEs both in terms of funding and capacity building, maintaining that most SMEs lack the capacity to put to use loans borrowed judiciously.

Indeed, the acting Managing Director stated that between 2010 and 2014, Nigeria was among the top ten fastest growing economy in the world with average Gross Domestic Product (GDP) of 37 per cent, but however stated that the poverty indices did not match the rise in GDP.