In a landmark move to bolster Nigeria’s economic landscape, Fidelity Bank Plc has embarked on the disbursement of the Federal Government of Nigeria’s (FGN) Micro, Small, and Medium Enterprises (MSME) Intervention Funds, administered through the Bank of Industry (BOI). This initiative is strategically designed to empower small and medium enterprises (SMEs) across the 36 states of Nigeria, with a deliberate emphasis on supporting women-owned businesses. The intervention underscores Fidelity Bank’s unwavering commitment to fostering inclusive economic growth and cementing its position as a leading supporter of Nigeria’s SME sector.
A Strategic Partnership for Economic Empowerment
The FGN MSME Intervention Fund is a critical component of the Federal Government’s broader strategy to stimulate economic recovery and growth by providing accessible financing to MSMEs, which are widely regarded as the backbone of Nigeria’s economy. These enterprises play a pivotal role in job creation, poverty alleviation, and economic diversification. By partnering with the Bank of Industry, Fidelity Bank has positioned itself as a key conduit for delivering these funds to entrepreneurs, ensuring that the financial support reaches those who need it most.
The initiative is particularly significant in light of Nigeria’s economic challenges, including inflation, currency volatility, and limited access to affordable credit for small businesses. MSMEs, which account for a substantial portion of Nigeria’s GDP and employment, often face barriers such as high interest rates, stringent loan requirements, and inadequate infrastructure. The FGN MSME Intervention Fund seeks to address these challenges by offering low-cost financing, enabling businesses to scale operations, improve productivity, and contribute to economic resilience.
Fidelity Bank’s role in this initiative is a natural extension of its long-standing dedication to the SME sector. The bank has consistently demonstrated a proactive approach to supporting small businesses through tailored financial products, capacity-building programs, and market access initiatives. By prioritizing women entrepreneurs in this phase of the fund’s disbursement, Fidelity Bank is taking a bold step toward promoting gender inclusion and recognizing the transformative potential of women-led enterprises.
Empowering Women Entrepreneurs
In a statement highlighting the bank’s priorities, Osita Ede, Divisional Head of Product Development at Fidelity Bank Plc, emphasized the strategic focus on women entrepreneurs. “As a bank deeply committed to the growth of SMEs, we are proud to partner with the Federal Government and the Bank of Industry on this critical intervention,” Ede said. “For this phase, we are placing women at the forefront because we recognize their resilience, innovation, and pivotal contributions to wealth creation and employment generation in Nigeria.”
This focus on women-led businesses is not merely symbolic; it reflects a growing body of evidence that women entrepreneurs are key drivers of economic progress. Studies have shown that women-owned businesses tend to reinvest profits into their communities, prioritize sustainable practices, and create jobs at a significant rate. However, women entrepreneurs in Nigeria often face unique challenges, including limited access to capital, societal biases, and a lack of tailored support systems. By prioritizing women in the disbursement of the FGN MSME Intervention Fund, Fidelity Bank is addressing these barriers head-on, creating opportunities for women to thrive as business leaders.
The decision to focus on women also aligns with global and national agendas for gender equality. The United Nations’ Sustainable Development Goals (SDGs), particularly Goal 5 (Gender Equality), emphasize the importance of empowering women economically to achieve sustainable development. Similarly, Nigeria’s National Gender Policy advocates for increased access to resources and opportunities for women. Fidelity Bank’s approach to the MSME Intervention Fund is a practical manifestation of these principles, ensuring that women entrepreneurs receive the financial and strategic support they need to succeed.
A Robust Framework for Implementation
To ensure the effective rollout of the FGN MSME Intervention Fund, Fidelity Bank has established a comprehensive framework for onboarding and disbursing funds to eligible SMEs. The bank is leveraging its extensive network of 255 business offices across Nigeria, as well as its subsidiary in the United Kingdom, FidBank UK Limited, to reach entrepreneurs in both urban and rural areas. Additionally, Fidelity Bank’s advanced digital banking platforms, including its award-winning Fidelity Mobile App, are being utilized to streamline the application and disbursement process, making it easier for SMEs to access funds.
The bank’s experienced team of relationship managers plays a crucial role in this process, providing personalized support to applicants and ensuring that funds are allocated to viable businesses with the potential for growth. This hands-on approach reflects Fidelity Bank’s commitment to not only providing financing but also fostering long-term success for SMEs. By combining digital innovation with human expertise, the bank is creating a seamless and inclusive process that caters to the diverse needs of Nigeria’s MSME ecosystem.
Beyond Financing: Building an Ecosystem of Support
Fidelity Bank’s involvement in the FGN MSME Intervention Fund is part of a broader strategy to create a holistic ecosystem of support for SMEs. The bank recognizes that access to capital, while critical, is only one piece of the puzzle. To truly empower small businesses, Fidelity Bank has developed a range of initiatives aimed at building capacity, fostering innovation, and expanding market opportunities.
One such initiative is the Fidelity SME Empowerment Programme (FSEP), launched at the bank’s Gbagada SME Hub in Lagos. The FSEP is a flagship program designed to provide growth-ready SMEs with the tools and resources they need to succeed in a competitive market. Under this program, 100 SMEs received a comprehensive package of support, including ERPRev-enabled POS systems, business software, receipt printers, barcode scanners, inventory support, bookkeeping and branding training, three-day masterclasses, and six months of post-installation monitoring—all provided at no cost to the beneficiaries.
The FSEP is a testament to Fidelity Bank’s commitment to going beyond traditional banking services. By equipping SMEs with modern tools and knowledge, the bank is helping businesses improve their operational efficiency, enhance their market competitiveness, and achieve sustainable growth. The program’s focus on technology, such as ERPRev-enabled POS systems, is particularly relevant in the context of Nigeria’s rapidly digitizing economy, where businesses must adapt to new technologies to remain viable.
In addition to the FSEP, Fidelity Bank has strengthened its support for SMEs through a strategic partnership with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN). In May 2025, the bank signed a Memorandum of Understanding (MoU) with SMEDAN to provide SME-friendly low-interest financing, capacity-building support, and market access for SMEs referred under the agreement. This partnership is a significant step toward creating a more enabling environment for small businesses, as it combines Fidelity Bank’s financial expertise with SMEDAN’s mandate to promote SME development.
“Our vision goes beyond financing,” Ede noted. “We are building an ecosystem of support for SMEs by offering capacity-building programs, mentorship opportunities, and market access. Women entrepreneurs, in particular, will benefit from a larger share of the fund as part of our broader strategy to promote gender inclusion.” This multifaceted approach ensures that SMEs receive not only the capital they need but also the knowledge, networks, and opportunities required to thrive in a dynamic economic landscape.
A Legacy of Excellence in SME Banking
Fidelity Bank’s emergence as a key player in the disbursement of the FGN MSME Intervention Fund is a natural extension of its long-standing leadership in SME banking. The bank has been recognized as one of Nigeria’s top financial institutions, serving over 9.1 million customers through its extensive network of business offices and digital banking channels. Its commitment to innovation and customer-centric services has earned it numerous accolades, both locally and internationally.
In 2024, Fidelity Bank received the Excellence in Digital Transformation & MSME Banking Award from the BusinessDay Banks and Financial Institutions (BAFI) Awards. The bank’s Fidelity Mobile App was also named the Most Innovative Mobile Banking Application by Global Business Outlook, reflecting its leadership in digital banking. Additionally, Fidelity Bank was honored as the Most Innovative Investment Banking Service Provider by Global Brands Magazine and recognized as the Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence. The bank’s expertise in export financing was further acknowledged with the Export Financing Bank of the Year award at the BAFI Awards.
These accolades underscore Fidelity Bank’s reputation as a trusted partner for SMEs and a leader in driving financial inclusion and economic development. By combining its expertise in SME banking with its role in the FGN MSME Intervention Fund, the bank is well-positioned to make a lasting impact on Nigeria’s economic landscape.
Driving Sustainable Growth and Economic Resilience
The FGN MSME Intervention Fund represents a significant opportunity to address some of Nigeria’s most pressing economic challenges. By providing affordable financing to MSMEs, the initiative has the potential to unlock new opportunities for job creation, poverty reduction, and economic diversification. Fidelity Bank’s strategic focus on women entrepreneurs further amplifies the fund’s impact, as women-led businesses are known for their contributions to community development and sustainable growth.
Through its comprehensive approach to SME support, Fidelity Bank is not only disbursing funds but also fostering a culture of entrepreneurship and innovation. The bank’s efforts to build an ecosystem of support—through initiatives like the FSEP and partnerships with organizations like SMEDAN—demonstrate its commitment to creating lasting value for SMEs and the broader economy.
As Nigeria navigates a complex economic landscape, interventions like the FGN MSME Intervention Fund are critical to ensuring that small businesses have the resources they need to succeed. Fidelity Bank’s leadership in this initiative positions it as a catalyst for change, empowering entrepreneurs, promoting gender inclusion, and driving sustainable economic growth across the country.
Conclusion
Fidelity Bank Plc’s role in disbursing the FGN MSME Intervention Fund marks a significant milestone in its mission to empower Nigeria’s SME sector. By prioritizing women entrepreneurs and leveraging its extensive network, digital platforms, and expertise, the bank is ensuring that the fund reaches those who need it most. Through initiatives like the Fidelity SME Empowerment Programme and strategic partnerships with organizations like SMEDAN, Fidelity Bank is building a robust ecosystem of support for SMEs, fostering innovation, and driving economic resilience.
As the bank continues to roll out the FGN MSME Intervention Fund, its impact will be felt across Nigeria’s 36 states, empowering entrepreneurs, creating jobs, and contributing to the nation’s long-term economic development. With its proven track record and commitment to excellence, Fidelity Bank is poised to remain a leading force in SME banking, transforming lives and communities one business at a time.
