It is the Federal Government of Nigeria (FGN), in collaboration with the Bank of Industry (BOI), that provides the MSME Intervention Fund, which is a loan program specifically designed to assist small, micro, medium, and large businesses (MSMEs) develop. The fund can provide an affordable amount of credit to assist in the creation of jobs, production, and expansion of business across all industries.
This initiative offers much-needed economic relief to entrepreneurs who are unable to access conventional bank loan options due to the high rate of interest and demand for collateral. In 2025 the FGN/BOI MSME Intervention Fund continues to be a major factor in promoting economic growth that is inclusive in Nigeria.
What It Is—FGN/BOI MSME Intervention Fund
The FGN/BOI MSME Intervention Fund is backed by the government and operated through the Bank of Industry (BOI). It offers interest-only loans in single digits to small and medium-sized businesses to stimulate productivity, innovation, and job creation.
The fund focuses on businesses in areas such as manufacturing, agricultural technologies, services, and agriculture and encourages value-added as well as export potential. gender equality.
Information can vary based on the phase of the program; check the official BOI website prior to applying.
Funding & Coverage of the Fund
The FGN/BOI MSME Investment Fund provides structured financial aid to businesses that are eligible under favorable terms.
The key features include
- Total Allocation: N75 billion nationwide
- The amount of a loan: Up to N1 million for micro-businesses with greater limits for medium and small enterprises
- Interest Rate: Single-digit, capped at 9% per annum
- The term of a loan is up to five years based on the nature of the business and the purpose.
- The moratorium of 3–6 months of principal repayments may be applicable.
- The target sectors are agriculture, manufacturing trade, services ICT, creative industry, and export-oriented companies.
- Goal: Support business expansion in working capital, as well as job creation
The fund is administered through BOI’s online platform and certified financial intermediaries that guarantee access and transparency across the 36 states of Nigeria as well as the FCT.
Eligibility for FGN/BOI MSME Intervention Fund
The applicant must meet the following criteria for eligibility:
- Are you a Nigerian resident or a registered company that is operating within Nigeria?
- You can operate in a micro, small, or medium-sized business (MSME).
- You must have a trademark registered for your business or CAC certification.
- Have an account with a Banking Verification Number (BVN) and business bank account
- Send a credible business plan or project idea
- Participate in a sector that is eligible, like manufacturing, agriculture, or even services
- You must demonstrate the ability to repay and create jobs.
- Follow the BOI’s loan requirements and monitoring protocols
Priority is usually given to young women and entrepreneurs from the female perspective as well as rural MSMEs.
How to Apply for the FGN/BOI MSME Intervention Fund
- Visit the official BOI Portal
Visit the Bank of Industry Official website and go through the section MSME Intervention Fund. - Make an Account
Create your profile for business by providing basic details like company name, industry, and contact information. - Choose the right loan window
Select the right loan category (micro, small, or medium enterprise) that best suits your business size. - Fill out the application form.
Complete the required fields in a timely manner, including business financials as well as the purpose of funding. - Uploading Required Documents
Upload your Certificate of CAC ID, BVN tax information, as well as a business plan. - Send Your Form
Examine your information carefully prior to submission. Keep the confirmation slip and reference numbers. - Evaluation and verification
BOI examines your application as well as conducts background checks and assesses the viability of your business. - Application for Loans and an Offer
The successful applicants will receive an offer letter that outlines the amount of the loan, the interest rate, and the repayment plan. - disbursement
The funds are transferred directly to your business account when you meet the requirements for disbursement. - Monitoring and reporting
Beneficiaries could be required to submit periodic reports and permit BOI to track the performance of their business.
Required Documents
- Valid method to prove identity (National ID, Passport, Voter’s Card)
- Corporate Affairs Commission (CAC) certificate or business registration
- Bank Verification Number (BVN)
- Tax Identification Number (TIN) and recent tax records
- Business bank account details
- The feasibility report or the business plan, including cost breakdown
- The last 6-12 months of bank accounts (for existing companies)
- Evidence of address for business (utility statement or the tenancy agreement)
- Accounting statements or other records (if they are available)
- Permits and licenses that are applicable for sectors that are regulated
Timelines
- Application Window Available throughout the entire year and subject to funds
- Review & Verification: 4-8 weeks after submission
- Approval and Disbursement: Within 2-4 weeks after confirmation
- Repayment Duration: Up to 5 years, and a moratorium could be imposed on principal repayment.
- The continuous performance will be monitored by BOI program officers.
The processing time can vary based on the business type and document completeness.
Common Challenges or Warnings
- You should not be paying any agency or third party to assist you with your application. The procedure is free via BOI.
- Applications that have insufficient documents may be delayed or denied.
- Candidates must make sure that their business plans and strategies are realistic and well documented.
- Keep accurate records and ensure transparency in the financials for easy verification.
- A default on your repayment could impact your potential eligibility for future loans from the government.
FAQs on the FGN/BOI MSME Intervention Fund
1. How can I access the FGN/BOI MSME Fund? It’s a federally funded loan program administered by the Bank of Industry to support Nigerian small-sized businesses by providing affordable funding.
2. Who is eligible? Small, micro, and medium-sized businesses working in the eligible industries.
3. What is the rate of interest? 9% per year (single-digit interest).
4. What is the maximum amount I can access? Up to 1 million N for micro-businesses and more in the case of larger MSMEs.
5. Do I require collateral? The requirements for collateral vary for smaller loans; they may require the services of guarantors or even moveable assets.
6. Are startups eligible to be considered for registration? Yes, provided they have a sustainable business plan and a valid registration.
7. Do I have to apply? Send your application on the official BOI website.
8. Are you referring to a grant, or is it a loan program and not one that is a grant?
9. What is the time frame before approval? Usually, between 4 and 8 weeks, based on the verification.
10. Who is given priority? Who gets priority? Youth-owned, women-led, and rural-based companies often get the top priority.
11. Are there repayment moratoriums? Yes, usually 3 months, based on the type of loan.
12. Are there any opportunities to reapply if not selected? You can submit a second application during the next round of funding.
Conclusion
The FGN/BOI MSME Intervention Fund provides a cost-effective and reliable source of finance to Nigerian entrepreneurs. Thanks to its lower interest rate and flexible repayment structures, the program allows MSMEs to expand operations, buy equipment, and create new jobs.
Prepare a robust business plan, submit the correct documents, and adhere to BOI’s official procedures to increase your chances of being approved. Only apply through approved BOI processes, and do not pay any person for assistance with your application.
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