Oborevwori Targets MSME Growth With Revolving Fund
By PAULINA NZERUBE
Oborevwori Rolls Out ₦1 billion MSME Financing Scheme Under MORE Agenda
MoU Signals Shift to Loan-Based Empowerment
THE Delta State Government has signed a Memorandum of Understanding with the Bank of Industry for the management of a ₦1 billion revolving loan scheme aimed at strengthening Micro, Small and Medium Enterprises in the state.
Governor Sheriff Oborevwori said the initiative represents a deliberate shift towards structured, sustainable financing under his administration’s MORE Agenda.
Single-Digit Loans for Entrepreneurs
According to the governor, the fund will provide access to credit at single-digit interest rates, reducing the burden of high borrowing costs that often stifle small businesses.
He said MSMEs account for the largest share of employment in the economy and remain critical drivers of growth, innovation and wealth creation.
Sustainability Through Revolving Structure
Oborevwori stressed that the revolving nature of the fund makes repayment critical to its continuity.
“This is not free money. It must be repaid so others can benefit. That is how we ensure sustainability,” he said.
He explained that the loan-based approach would instil discipline and encourage better financial planning among beneficiaries.
Strategic Role of Bank of Industry
The governor said BoI’s experience in credit administration and enterprise development informed the government’s decision to entrust the fund to the institution.
He expressed confidence in BoI’s ability to manage the fund transparently and efficiently, while offering advisory services to support business growth.
Expansion Plans and Economic Outlook
The governor disclosed that the ₦1 billion allocation could be increased significantly if the scheme delivers measurable impact.
“This partnership can transform Delta’s private sector and build a more resilient economy,” he said.
BoI: Initiative Aligns With Development Mandate
BoI Managing Director, Dr. Olasupo Olusi, said the scheme aligns with the bank’s mandate to support MSMEs and unlock sustainable economic growth.
He commended the Delta State Government for prioritising enterprise development and deepening institutional collaboration.
