(DDM) – Delta State Governor, Sheriff Oborevwori, presided over the signing of a Memorandum of Understanding (MoU) between the Delta State Government and the Bank of Industry (BOI) on Tuesday, January 13, 2026, at Government House, Asaba.
DDM gathered that the agreement establishes a ₦1 billion revolving fund aimed at empowering small and medium-scale enterprises (SMEs) under the state’s MORE Agenda.
Governor Oborevwori emphasized that SMEs are the backbone of any thriving and sustainable economy, noting that they create jobs, drive innovation, and strengthen local markets.
According to the governor, the fund will provide entrepreneurs with access to capital, structured support, and business guidance to help them grow responsibly and achieve long-term success.
He explained that the initiative represents a shift from grant-based support to a revolving fund model, which encourages accountability, disciplined fund utilization, and sustainability of business development programs.
Governor Oborevwori added that businesses demonstrating capacity, discipline, and growth potential will benefit from further expansion opportunities under the scheme.
State officials noted that the MORE Agenda prioritizes inclusive economic growth, with the SME fund designed to reach both urban and rural entrepreneurs, fostering equitable access to financial resources and business advisory services.
Economic analysts observed that revolving funds provide a practical way to ensure continuous support for SMEs, as repayments from successful businesses are recycled to fund new ventures, promoting a self-sustaining economic ecosystem.
The governor further highlighted that the fund will support a range of entrepreneurial activities, including manufacturing, agriculture, technology, and service-oriented enterprises, reinforcing Delta State’s commitment to diversifying its economic base.
BOI representatives described the partnership as a milestone in public-private collaboration, aimed at bridging the financing gap for SMEs and enabling small businesses to contribute meaningfully to state and national development.
Observers noted that the fund could significantly reduce reliance on informal lending sources, which often charge high interest rates and limit business growth potential.
Governor Oborevwori also called on entrepreneurs to approach the fund with accountability, transparency, and a commitment to utilizing the resources for sustainable business growth.
Officials confirmed that monitoring mechanisms will be established to track fund utilization, assess business performance, and provide ongoing advisory support to maximize the impact of the initiative.
The governor concluded that the revolving fund aligns with the MORE Agenda’s broader vision of inclusive economic development, job creation, and wealth generation across Delta State.
The launch of the ₦1 billion SME fund signals a renewed commitment by the Delta State Government to strengthen local enterprises, promote economic resilience, and empower citizens to actively participate in building a robust state economy.
