BII, FCMB launch $50m facility to boost MSME growth in Northern Nigeria

Last updated: December 5, 2025 8:02 am

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British International Investment (BII), the UK’s development finance institution, has partnered with First City Monument Bank (FCMB) to roll out a $50 million credit facility designed to expand funding access for Micro, Small and Medium-sized Enterprises across Nigeria.

In a statement issued on Tuesday, BII confirmed that the facility will be deployed through FCMB, with a strong focus on underserved regions. About 70% of the funding is earmarked for MSMEs operating in northern Nigeria, where businesses continue to face limited access to capital. The remaining portion will support women-led enterprises nationwide, strengthening efforts to deepen gender-inclusive financing.

Supporting key sectors and financial inclusion

The partnership is expected to relieve the persistent funding constraints affecting businesses in key sectors such as agriculture, trade, and manufacturing. Both organisations say the facility will help scale small businesses, promote financial inclusion, and support job creation in communities that traditionally receive less formal financing.

FCMB’s commitment to SME growth

FCMB’s Managing Director/Chief Executive Officer, Yemisi Edun, noted that the collaboration aligns with the bank’s mission to empower more small businesses.

“Our partnership with British International Investment strengthens our ability to channel resources where they matter most, deepen financial access for underserved groups, and create pathways for long-term economic participation across the country,” she said. Edun added that as of September 2025, the bank had already provided over ₦533bn in credit lines to thousands of businesses nationwide.

The new facility is expected to further reinforce FCMB’s SME-focused lending strategy while supporting BII’s mandate to stimulate inclusive and sustainable economic growth across Nigeria.