British International Investment (BII), in partnership with First City Monument Bank (FCMB), has introduced a fifty-million-dollar financing package aimed at accelerating the expansion of Micro, Small, and Medium-sized Enterprises across Nigeria. The organisations revealed that the facility will be deployed through FCMB for onward lending, with a significant portion earmarked for northern Nigeria—an area where many business owners continue to face limited access to financial support. The remaining allocation will target women-owned enterprises nationwide, reinforcing ongoing efforts to broaden financial inclusion and economic participation.
The capital injection is expected to ease long-standing funding constraints that hinder the progress of MSMEs operating in agriculture, trade, manufacturing, and other high-value sectors. By directing funds to communities that have historically lacked adequate financial resources, the initiative seeks to enhance local productivity, unlock opportunities for emerging businesses, and fortify the economic landscape of the northern region. It also contributes to wider programmes aimed at improving access to finance for women entrepreneurs who continue to encounter barriers within conventional lending environments.
FCMB noted that the collaboration significantly boosts its ability to offer affordable credit to a larger pool of small enterprises, especially at a time when demand for flexible financing continues to rise nationwide. The bank added that expanding access to capital will enable entrepreneurs to build stronger business structures, stimulate job creation, and drive innovation across critical sectors that fuel national growth. According to both partners, the arrangement reflects a shared resolve to uplift underserved communities and support enterprises capable of transforming local economies.
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BII emphasised that its commitment aligns with global development priorities centred on promoting gender equity, increasing access to decent employment, and advancing broad-based economic expansion. It highlighted that bridging financial gaps—particularly in the northern region—is crucial for positioning more entrepreneurs for sustained success. The institution further stressed that the investment supports broader efforts to strengthen commercial partnerships between Nigeria and the United Kingdom by fostering a more inclusive, resilient, and investor-ready private sector.
This initiative comes at a period when FCMB has gained recognition for its expanding footprint in SME financing across Nigeria. The bank continues to extend credit to thousands of enterprises and maintains one of the strongest portfolios supporting small businesses nationwide. The new collaboration is expected to amplify this momentum by equipping entrepreneurs with the financial resources required to scale operations, introduce innovations, and contribute significantly to Nigeria’s ongoing economic revitalisation.
