The Nigerian Upstream Petroleum Regulatory Commission has declared that the era of oil companies holding on to exploration licences for years without developing the assets is officially over, as new provisions under the Petroleum Industry Act compel operators to either develop their fields or relinquish them.

The Commission Chief Executive of the NUPRC, Oritsemeyiwa Eyesan, disclosed this while receiving a delegation from the Petroleum Directorate of Sierra Leone at the commission’s headquarters in Abuja.

Eyesan also expressed satisfaction with the level of investor interest recorded so far in Nigeria’s 2025 oil licensing round, describing the number of applicants as encouraging despite stricter bidding conditions introduced by the regulator.

This was contained in a statement issued on Friday by the Head of Media and Corporate Communications at the commission, Eniola Akinkuotu.

According to Eyesan, the response from investors to the licensing round has demonstrated renewed confidence in Nigeria’s upstream petroleum sector following regulatory reforms introduced by the Petroleum Industry Act.

She said the ongoing exercise involves 50 oil blocks currently on offer, adding that the strong level of participation was recorded despite a rule limiting companies to a maximum of two blocks, whether bidding individually or as part of a consortium.

“For the 2025 licensing round, we have 50 oil blocks on offer. And the outcome of the pre-qualification submission was a demonstration that there is indeed a very good appetite for the bid round,” Eyesan said.

She explained that the commission deliberately introduced restrictions on the number of blocks that companies can bid for in order to prevent asset hoarding and encourage wider participation from investors.

According to her, the policy ensures that exploration assets are allocated to companies that are genuinely ready to invest and develop them. Eyesan also disclosed that the commission had taken additional steps to strengthen transparency and investor confidence in the licensing process.

She said the regulator engaged an independent audit firm to review the digital bidding system and validate its integrity.

“In order to ensure total transparency in the licensing round, the commission added an extra layer of validation by partnering with a reputable audit firm to interrogate the system and validate that the system is foolproof. The result of that exercise will be made public just to boost investor confidence,” she stated.

The NUPRC boss said the introduction of the “drill or drop” provision under Section 94 of the Petroleum Industry Act has fundamentally changed the way exploration licences are managed in Nigeria.

She noted that the provision compels operators to either commence exploration and development activities within a specified timeframe or surrender the licence to the government.

According to her, the reform has eliminated the longstanding practice where companies held on to oil blocks for decades without developing them.

Eyesan said, “One of the beauties of the PIA is Section 94, which compels operators to either commence work or relinquish the licence, what we call the drill or drop provision.

“The PIA also opened opportunities for both small and big players because there is now a drill or drop provision in the Act. So we have cured the problem of uncertainties.”

She explained that prior to the reform, some operators retained prospecting licences for as long as 20 years without carrying out meaningful exploration work, thereby slowing down Nigeria’s efforts to expand its petroleum reserves.

“In the past, we had operators who had 20-year licences and sat on these blocks and did absolutely nothing.

“Now we have moved from that era to drill or drop. So we have more assets in the basket, which has given us the impetus to even consider holding bid rounds more frequently, possibly on an annual basis,” the CCE noted.

She added that the policy shift has helped return more dormant assets to the government’s portfolio, thereby creating new opportunities for investors in the ongoing licensing round.

According to the commission, the renewed interest in the bid round could also support Nigeria’s long-term goal of increasing its proven crude oil reserves and sustaining upstream investments.

Nigeria currently holds some of the largest hydrocarbon reserves in Africa, but exploration activity has slowed in recent years due to regulatory uncertainty, security challenges, and global energy transition pressures.

The enactment of the Petroleum Industry Act in 2021 has helped restore investor confidence by introducing clearer fiscal terms, improved regulatory frameworks, and stricter accountability requirements for operators.

Meanwhile, the Director-General of the Petroleum Directorate of Sierra Leone, Foday Mansaray, said his country was seeking to learn from Nigeria’s regulatory experience in developing its own hydrocarbon sector.

Mansaray explained that the delegation’s visit to the NUPRC was aimed at deepening bilateral cooperation and gaining insights into Nigeria’s petroleum governance framework.

“We are here to collaborate with the NUPRC at a bilateral level and learn from Nigeria, our big brothers in the industry,” he said. “We are a small country of just eight million people, but very ambitious, and we believe there is a lot we can learn from Nigeria’s experience in managing the petroleum sector.”

He also called for stronger energy collaboration between both countries and proposed the signing of a Memorandum of Understanding to formalise cooperation in regulatory capacity building and petroleum sector development.

The 2025 oil licensing round was formally launched in December 2025 following approval by President Bola Tinubu as part of efforts to attract fresh investment into the country’s upstream petroleum sector.

The bid round offers 50 oil and gas blocks located across several sedimentary basins, including the Niger Delta, Anambra, Bida, Benue Trough, and Chad basins, with the objective of boosting exploration activity, increasing reserves, and supporting long-term crude production growth.

As of now, the process has completed the pre-qualification stage, with the submission window closing on February 27, 2026, after which qualified companies are expected to proceed to the technical and commercial bidding phase, where bids will be evaluated before final awards are announced

Overall, the licensing round is expected to run for about eiht months, from November 2025 to July 2026, when the commercial bid conference and final approvals are scheduled to conclude the process.

Shell Nigeria Exploration and Production Company Limited (SNEPCo) has completed the turnaround maintenance on the Bonga Floating Production, Storage and Offloading (FPSO) vessel, leading to resumption of production at Nigeria’s premier deepwater field on March 6, 2026.

The project was delivered 11 days ahead of schedule and without any safety incident, reinforcing SNEPCo’s longstanding commitment to operational excellence and asset integrity.

“Completing the turnaround safely and ahead of schedule is a testament to the dedication and professionalism of our Nigerian workforce and the helpful support of our partners,” SNEPCo Managing Director Ronald Adams said. “The achievement not only secures the long‑term integrity of the Bonga FPSO but also positions us strongly for the successful delivery of the Bonga North project, which will leverage the improved reliability of the FPSO.”

The exercise which began on February 1, 2026, highlights SNEPCo’s leading role in advancing deep‑water expertise in Nigeria. Of the 55 companies involved in the execution, 43 were wholly Nigerian. Additionally, eight of the 12 international service providers maintain operational bases in Nigeria, contributing to knowledge transfer and increased local investments.

More than 1,000 personnel worked offshore during the turnaround, with over 95% being Nigerians involved in maintenance, engineering, operations, inspection and construction. Thousands more supported activities from onshore locations, reflecting the depth of Nigerian capability in offshore oil and gas operations.

Adams added: “We acknowledge the support of several stakeholders towards the successful execution of the exercise, including the NNPC Upstream Investment Management Services (NUIMS), the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), the Nigerian Content Development and Monitoring Board (NCDMB) and our partners.”

The Nigerian stock market reversed the negative trend witnessed in the previous two trading sessions, recording a gain of N649bn on Thursday.

The All-Share Index rose by 1,010.22 points, representing an increase of 0.52 per cent to close at 196,908.76 points. Market capitalisation gained N649bn to close at N126.399tn.

The upturn was driven by gains in medium and large-cap stocks, including Transcorp Hotels, BUA Cement, Fidson Healthcare, CAP, and Guinness Nigeria.

Of the 132 traded stocks, 30 advanced, 30 declined, and 62 closed unchanged, indicating a mixed market breadth. FTN Cocoa Processors recorded the highest price gain of 10 per cent to close at N6.27 per share.

Fidson Healthcare followed with a gain of 9.97 per cent to close at N105.35, while DEAP Capital Management & Trust was up by 9.89 per cent to close at N7.00 per share.

Caverton Offshore Support Group rose 9.40 per cent to close at N6.40, while Livestock Feeds appreciated 9.30 per cent to close at N7.05 per share.

On the other hand, Eterna and Omatek Ventures led the losers’ chart with a 10 per cent decline each, closing at N42.30 and N2.52, respectively. SCOA Nigeria followed with a decline of 9.94 per cent to close at N22.65 per share.

Fortis Global Insurance depreciated 9.24 per cent to close at N1.08, while Sovereign Trust Insurance declined 9.09 per cent to close at N2.10 per share.

Meanwhile, the total volume traded declined by 25.84 per cent to 549.781 million units, valued at N44.736bn across 55,465 deals. Transactions in the shares of Fortis Global Insurance topped the activity chart with 32.182 million shares valued at N34.775m.

Access Holdings followed with 28.124 million shares worth N700.986m, while First Holdco traded 27.722 million shares valued at N1.385bn.

Zenith Bank traded 27.483 million shares valued at N2.559bn, while Dangote Cement saw 26.893 million shares worth N20.671bn traded.

Regarding market performance, Imperial Asset Managers Limited stated, “Overall, the session reflects a return of investor confidence, supported by selective accumulation of fundamentally strong stocks amid a positive macroeconomic environment and above-par corporate earnings released so far for the 2025 full-year season.”

Nigerian Breweries Plc has acquired 29% stake in a recycled Polyethene Terephthalate production facility in Ogun State.

The brewers formally notified the Nigerian Exchange of its entry into a strategic partnership to establish a food-grade recycling venture, in a major move to bolster its sustainability credentials and navigate a tightening regulatory environment.

The project, which marks a significant investment in Nigeria’s circular economy, sees the brewing giant taking a 29% minority stake in the venture.

The facility will be developed and operated by global sustainable chemical leader Indorama Ventures Public Company Limited, acting as the majority partner, and the Genesis Energy Group.

The announcement follows the Federal Government’s recent shift from voluntary to mandatory waste management policies.

Speaking on the strategic necessity of the deal, Nigerian Breweries highlighted the long-term operational benefits: “The partnership secures a reliable future supply of rPET for NB operations, in line with the roadmap for mandatory usage under national policy.”

By securing a 29 per cent stake, NB ensures it has priority access to high-quality recycled plastic, which is essential for meeting the National Policy on Plastic Waste Management. This policy now holds brand owners legally accountable for the entire lifecycle of their packaging.

The facility will be managed through a special purpose vehicle, Indorama Ventures Recycling Solutions Limited. While NB is a significant investor, the company clarified its role within the corporate structure:

“Nigerian Breweries will remain a minority investor in the partnership and will not participate in the control or management of the business,” according to a statement.

The venture is expected to strengthen the local recycling value chain by converting post-consumer PET bottles into food-grade resin safe for beverage packaging. The company noted that the project is a cornerstone of its broader environmental strategy: “The venture aligns with our sustainability goals, supports the growth of Nigeria’s local recycling industry, and remains subject to the necessary approvals and operational requirements.”

The timing of the partnership coincides with a period of strong financial recovery for the brewer. After a challenging 2024, the company’s FY2025 results revealed a rebound to a N161bn pre-tax profit, supported by a 35.32% surge in sales to N1.4tn.

Although NB shares saw a marginal midday dip of 1.39% following the announcement, market analysts point to the company’s year-to-date growth of over three per cent as a sign of investor confidence in its “Beyond Beer” and sustainability-led expansion plans.

OPay Digital Services Limited has dismissed reports that its offices in Lagos and Abuja were sealed by the Nigeria Revenue Service over alleged non-compliance with tax obligations, describing the claims as false and misleading.

Reports had circulated on social media and online platforms alleging that the NRS sealed OPay’s Lagos and Abuja offices over non-compliance with Value Added Tax and Company Income Tax obligations under the Nigeria Tax Act 2025.

The fintech company said in a statement on Thursday that its offices across Nigeria remain open and fully operational, and that it continues to serve customers, partners and merchants without disruption.

“Our attention has been drawn to recent reports circulating on online platforms and social media claiming that our offices in Lagos and Abuja were sealed by the Nigeria Revenue Service (NRS) over alleged non-compliance with Value Added Tax (VAT) and Company Income Tax under the Nigeria Tax Act 2025.

“Our offices across Nigeria, including Lagos and Abuja, remain open and fully operational, and we continue to serve our customers, partners, and merchants without disruption.

“As a responsible financial technology company operating in Nigeria, we are compliant with all applicable tax obligations and regulatory requirements. We work closely and transparently with all relevant government agencies and regulatory authorities to ensure that our operations consistently meet statutory standards,” the company’s management said.

OPay said the notice at the centre of the reports arose from an industry-wide directive by the NRS requesting payment platforms to separately display certain statutory charges on their applications to aid reconciliation and transparency.

The company said the directive affected multiple operators across the payment industry and was not directed at OPay alone, adding that suggestions that the notice indicated non-payment of taxes were “factually incorrect and misleading.”

OPay also criticised what it described as the selective singling out of the company in a matter that concerned the broader industry, saying such reporting appeared calculated to damage its reputation.

“The notice referenced in the reports arose from a recent industry-wide directive by the NRS requesting payment platforms to distinctly separate certain statutory charges on their applications for easier reconciliation and transparency.

“This administrative clarification affects multiple operators across the industry, not OPay alone.

“The suggestion that the notice indicates non-payment of taxes is therefore factually incorrect and misleading. Equally troubling is the selective and deliberate singling out of OPay in a matter that concerns the wider industry.

“Such reporting not only distorts the facts but also appears calculated to undermine the reputation of a company that has consistently demonstrated strong compliance, transparency, and cooperation with regulators,” the statement read.

The company said it works closely with all relevant government agencies and regulatory authorities to ensure its operations meet statutory standards, adding that it remains committed to supporting Nigeria’s digital economy through secure and inclusive financial services.

“For the avoidance of doubt, the information currently circulating online suggesting that OPay is shutting down or our offices have been shut down should be disregarded, as it does not reflect the true situation.

“OPay remains committed to supporting Nigeria’s digital economy by providing secure, reliable, and inclusive financial services to millions of users nationwide,” the statement concluded.

Seplat Energy Plc has announced plans to drill 17 new wells in 2026 as part of efforts to boost production, with the company targeting output of up to 155,000 barrels of oil equivalent per day.

The plan forms part of the indigenous energy firm’s 2026 business strategy aimed at strengthening production and supporting its long-term 2030 output targets, according to details contained in the company’s 2025 full-year report.

Seplat disclosed that the 2026 drilling programme will involve 17 new wells, most of which will be located onshore.

The report stated, “The 2026 programme includes drilling 17 new wells: onshore, 15 wells; and offshore, two wells.”

The company also announced that its initial production guidance for 2026 has been set at between 135,000 and 155,000 barrels of oil equivalent per day.

“Initial 2026 production guidance is set at 135-155 kboepd,” the company said.

According to the report, onshore operations are expected to account for between 43 and 48 per cent of production, while offshore assets will contribute between 52 and 57 per cent.

Seplat noted that the 2026 drilling activities form part of a broader investment programme with capital expenditure projected at between $360m and $440m.

“Working interest capital expenditure for 2026 is expected to be in the range of $360-$440 million. Capex is expected to be equally split between onshore and offshore,” the report stated.

The company said offshore drilling activities will involve the deployment of a jack-up rig currently in Nigeria for a multi-year campaign.

“The jack-up rig, Shelf Drilling Victory, is currently in Nigeria, and the multi-year, multi-well infill drilling campaign is expected to commence in 3Q,” Seplat said.

It added that the offshore drilling programme for 2026 will focus on two new well completions at Oso in Oil Mining Lease 70.

Seplat explained that its 2026 business plan maintains a strong emphasis on strategic maintenance and asset integrity activities required to support its long-term production growth.

The firm noted that production growth in 2026 will largely be driven by gas and natural gas liquids as the ANOH gas processing plant ramps up operations and the first expansion phase at Oso is completed.

According to the report, the Oso expansion will double the company’s offshore gas sales capacity.

“Production growth will be driven by high-value NGLs and gas as ANOH ramps to full capacity and we complete the first expansion phase at Oso, doubling our offshore gas sales capacity,” the company said.

Seplat added that oil production growth will be supported by restoration of idle wells and drilling of new wells, although output could be affected by planned maintenance activities and downtime at the Yoho field.

The report indicated that Yoho is expected to resume production in the second quarter of 2026 after a fire incident last year.

It also projected strong growth in natural gas liquids production in 2026.

Seplat stated that NGL output at the midpoint of its production guidance is expected to increase by about 85 per cent year-on-year following the successful replacement of the inlet gas exchanger at the East Area Project.

“Improved NGL throughput will be seen from 1Q 2026,” the company noted.

Gas production is also expected to rise significantly, with the midpoint of the company’s guidance indicating an increase of about 30 per cent year-on-year.

Seplat said the increase will be driven by equity production of wet gas from the ANOH project following its start-up in January 2026, as well as higher offshore gas sales expected from the third quarter after the completion of the Oso-BRT Phase 1 expansion.

In terms of operating costs, the company projected that unit operating costs will range between $13.5 and $14.5 per barrel of oil equivalent.

According to the report, the expected increase in production will help reduce unit operating costs compared to the previous year.

“The reduction in unit operating costs versus the prior year reflects the anticipated increase in production, with operating costs expected to remain relatively stable in 2026,” Seplat stated.

However, the company noted that partial shutdowns of offshore assets are expected during the year as part of efforts to improve reliability and asset integrity.

It said such shutdowns are likely to occur particularly in the first and fourth quarters of 2026.

The firm added that its financial strategy is designed to ensure that the company can fund capital expenditure, meet debt obligations and maintain returns to shareholders.

The company explained that its revenue stream remains largely tied to US dollar-denominated oil exports, while gas sales and domestic oil supply generate naira revenue used to fund most local costs.

The report estimated cash tax payments of between $400m and $450m in 2026, based on assumed average prices of $65 per barrel for oil, $39 per barrel for NGL and $2.75 per thousand standard cubic feet for gas.

Seplat also reiterated its dividend policy, stating that its quarterly base dividend of 5.0 cents per share will be maintained for the year.

“With respect to dividends, our quarterly base dividend of USD 5.00/shr will be implemented for the year. Any cash dividend payable in excess of the base amount will be estimated with our half-year results and paid in two instalments with the 3Q and 4Q dividend declaration,” it added.

The company further disclosed that discussions are ongoing with its joint venture partner regarding a potential sale of a 10 per cent working interest in the SEPNU-NNPC joint venture.

However, Seplat said no agreement has been reached, and it would provide updates if there are further developments.

Nigeria’s electricity crisis may worsen in the coming weeks as gas suppliers halt supply to thermal power plants over an estimated N3.3tn debt owed by power generation companies, a development that could deepen the nationwide power shortage.

The Chief Executive Officer of the Association of Power Generation Companies, Dr Joy Ogaji, disclosed this during an interview on Fresh FM, monitored by our correspondent, warning that the mounting debt across the power value chain is pushing the sector toward a major crisis.

Her comments come amid worsening electricity supply across the country, with many Nigerians experiencing prolonged blackouts since the beginning of the year.

Data from the Nigerian Independent System Operator shows that power generation dropped below 4,000 megawatts in recent weeks, largely due to gas constraints affecting thermal power plants. As of Tuesday, the 11 power distribution companies were sharing only 3,053MW, making the reliable supply of electricity impossible across their franchise areas.

Electricity consumers, regardless of the supply bands they belong to, have continued to lament the situation, especially amid rising fuel prices and the severe heat.

Recently, NISO provided operational data illustrating the scale of the shortfall, noting that thermal power plants require an estimated 1,629.75 million standard cubic feet of gas per day to operate at optimal capacity. However, as of February 23, 2026, actual supply stood at about 692.00 mmscf per day—representing less than 43 per cent of the required volume.

As gas supply continues to decline, it was gathered that several power plants have shut down while the Transmission Company of Nigeria engages in load shedding, rationing the limited energy available among the DisCos. On their various platforms, the distribution companies have repeatedly appealed to customers, attributing the outages to gas shortages.

Speaking on the situation, Ogaji explained that the crisis stems from the failure of the Nigerian Bulk Electricity Trading Plc to fully pay for electricity generated by GenCos since the sector’s privatisation. According to her, the government currently owes generation companies about N6.8tn, with roughly 70 per cent of the amount relating to thermal plants.

She explained that about 70 per cent of whatever the government owes gas-fired power plants belongs to gas suppliers, meaning gas companies are owed about N3.3tn out of the N4.76tn tied to thermal generation.

Ogaji disclosed that gas suppliers have informed generation companies that they will no longer supply gas to power plants unless payments are made. She added that power generation companies have continued to keep records of all outstanding payments owed to them by the Nigerian Bulk Electricity Trading Plc.

“NBET is set up to buy power from GenCos and sell to DisCos. The aim is that as they buy power, they will pay in full, but since 2013 till today, they’ve never paid in full, so this debt is now N6.8tn,” she said.

Providing a breakdown of the debt, Ogaji stated that the liabilities have grown significantly over time.

“From 2015 to December 2024, the debt profile grew to N4tn. In each month of 2025, there is a shortfall of N200bn, so if you calculate N200bn times 12, that is N2.4tn, making the whole debt N6.4tn after December 2025. We’re already in March 2026. The debt grew to N6.6tn in January and N6.8tn in February. At the end of March, you need to add N200bn again to make it N7tn,” she said.

Ogaji added that a significant portion of the outstanding debt is owed to gas suppliers because thermal plants account for the majority of electricity generation on the national grid.

She said, “The generation companies have hydros, and we have thermal power plants. The thermal power plants are the ones that use gas. The hydro plants use water, so they do not owe gas suppliers.

“On the grid, we have 30 power plants; out of that, about 30 per cent are hydro now because Zungeru has added 700 MW, and there are other smaller hydro plants.

So, the remaining 70 per cent comes from gas.

“Therefore, for every N100 the thermal plants invoice NBET, N70 belongs to the gas suppliers. So, if we go by that ratio, out of the N6.8tn that I’m quoting, if we take out 70 per cent of that money that belongs to thermal plants, we need to work out another 70 per cent of that thermal 70 per cent, and that belongs to gas suppliers.”

Industry estimates based on this calculation show that about N3.3tn of the total debt is owed to gas producers, whose fuel powers most of Nigeria’s electricity generation.

The GenCo chief warned that the worsening debt crisis is directly responsible for the current electricity shortages. “Yes, it is 120 per cent correct to say that the debt is the reason why we are in darkness,” she said.

Ogaji added that gas producers are increasingly insisting on payment before supplying fuel to power plants.

“Gas is not available because the gas suppliers have told us that if we need gas, we need to put money on the ground to get gas in the pipe. We owed them a lot of money.

“The gas suppliers have really been very kind to us. They are the reason why the thermal plants are still generating power. But now, they have told us that if there’s no payment, there will be no gas for the thermal power plants,” she said.

According to Ogaji, the inability of generation companies to receive payments has also left them struggling to service bank loans obtained during the 2013 power sector privatisation.

“We owe gas suppliers, and we also owe lenders. You may have read in the papers that First Bank has been threatening to take over Egbin because of the acquisition loan,” she said.

She explained that GenCos’ financial burden has worsened significantly due to the sharp depreciation of the naira since the loans were obtained.

The Bank of Industry and the Plateau State Government have officially signed a Memorandum of Understanding for a N4bn matching fund in a strategic move to catalyse industrial growth and provide a lifeline to small businesses.

The agreement, according to a statement, was signed on Wednesday and aims to provide affordable, long-term financing to Micro, Small, and Medium Enterprises across all 17 local government areas of the state.

Under the “BOI-PLSG” initiative, both parties are contributing N2bn each to create a pool of capital accessible at single-digit interest rates.

Speaking at the signing ceremony in Jos, the Executive Governor, Caleb Manasseh Mutfwang, emphasised that this is more than just a financial transaction; it is a blueprint for state-wide prosperity.

“This partnership will improve the state’s contribution to the country’s GDP in alignment with the vision of President Bola Tinubu to build a $1 Trillion economy,” Mutfwang stated.

He highlighted that the fund is specifically designed to stimulate the local economy by prioritising high-impact demographics, adding that “the Plateau State Government and the Bank of Industry are contributing N2bn each to facilitate this partnership aimed at stimulating MSMEs in the state with a focus on women and youths.”

The Managing Director and Chief Executive Officer of the Bank of Industry, Dr Olasupo Olusi, reiterated the bank’s long-standing commitment to the region, noting that Plateau has become a hub for successful interventions over the last six years.

“The Bank has maintained an active presence in Plateau State since 2020, disbursing N8.46 bn to 257 enterprises, supporting Micro, Small and Medium Enterprises as well as Large Enterprises across the state,” Olusi remarked.

He further commended the state’s administrative reforms, which have made Plateau an increasingly attractive destination for institutional investment, noting that “Plateau State’s improved ranking on the Ease of Doing Business index, according to the Presidential Enabling Business Environment Council’s subnational report, reflects deliberate reforms aimed at creating a conducive environment for investment and private sector participation.”

The N4bn fund is structured to ensure sustainability and manageable repayment for beneficiaries, with a single obligor limit not exceeding N100m, a maximum tenor of five years, and a moratorium period of up to 12 months from disbursement. Beyond the cash injection, the MoU includes a robust capacity-building component in collaboration with accredited Entrepreneurship Development Centres.

This programme will focus on value addition in sectors such as poultry, block making, oil and rice milling, agro-mechanisation, packaging, pharmaceuticals, and bakery services. The partnership leverages the BOI’s 65-year history of development finance to ensure that MSMEs in Plateau State do not just receive capital but also the technical expertise required to scale sustainably through the establishment of specialised product clusters.