The Jigawa State Government has entered into a ₦6bn Memorandum of Understanding (MOU) with the Bank of Industry (BOI), to boost economic growth and development.

During the MOU signing ceremony held at the Dutse Government House, on Tuesday, Governor Umar Namadi said the partnership will provide medium and small-scale businesses in the state with access to soft loans.

Attended by key stakeholders and dignitaries, Namadi highlighted the importance of the partnership in his administration’s efforts, to eradicate poverty, create jobs, and stimulate economic growth.

Governor Namadi remarked, “The occasion is a milestone in our journey towards poverty eradication, job creation, and development. Empowering people through their own business of choice is a strategy we have adopted for accelerating growth and development in Jigawa State, and the Bank of Industry is a key partner in achieving this goal.”

He further emphasised the collaborative effort, stating, “With this MOU, we are now committed to joining hands with the BOI to facilitate access to soft loans for our small, medium, and even large-scale businesses in the state. We are very happy today to have a BOI branch in our state, and all relevant state government agencies are fully engaged to enlighten Jigawa citizens and support them in accessing the opportunities provided by the bank.”

The Executive Director of Small and Medium Enterprise (SMEs) at the Bank of Industry, Alhaji Shekarau Umar, described the MoU as a historic achievement for the bank.

“This is the biggest MOU signed with any state government in the history of the Bank of Industry,” Umar stated.

Reflecting on the journey to this milestone, Umar said, “In the last 13 years, we have been advocating for the establishment of the bank in Jigawa State, but there was no positive response. However, within six months of engagement with Governor Umar Namadi, our dream has become a reality.”

Commending the governor’s commitment, Umar added, “Governor Namadi is a man of his word and has shown indefatigable commitment to empowering the people of Jigawa for poverty eradication, job creation, growth, and sustainable development. As we sign this MOU and commission our Dutse branch today, we assure the Jigawa State Government of our commitment to work at any level to achieve the desired goals.”

The establishment of the BOI branch in Dutse is expected to provide significant support to local businesses, driving economic progress and improving the livelihoods of Jigawa State residents.