The Bank of Industry (BoI) has signed a Memorandum of Understanding (MoU) with the Nigerian-Belgian Chamber of Commerce (NBCC), setting the stage for deeper economic cooperation, expanded investment flows and stronger industrial partnerships between the two countries.
The agreement was signed during a high-level breakfast meeting jointly hosted by BoI and the NBCC with the theme: “Scaling Operations, Expanding Capacity, and Accessing Competitive Finance.” The event convened senior government officials, diplomats, business leaders, development partners, micros, small and medium enterprises (MSMEs) and private sector stakeholders committed to advancing bilateral trade and industrial development.
Managing Director and Chief Executive Officer of the BoI, Dr. Olasupo Olusi, described the partnership as a strategic milestone in BoI’s drive to expand global collaborations that accelerate Nigeria’s industrial transformation.
Represented by the Executive Director, Corporate Finance, Sustainability and Investments, Mr. Rotimi Makinde, on the occasion, the BoI CEO said: “As Nigeria’s leading Development Finance Institution, the Bank of Industry has consistently recognised that sustainable industrial development is built not only on access to finance but also on enduring strategic partnerships.
This collaboration with the Nigerian Belgian Chamber of Commerce reflects our commitment to creating stronger international business corridors that unlock investment, facilitate technology transfer, support MSMEs, and strengthen Nigeria’s industrial competitiveness.”
According to him, Belgium is among Europe’s most dynamic trading and investment destinations, making the partnership an important platform for promoting co-investment opportunities, export development, enterprise growth, and knowledge exchange between businesses in both countries.
The two-year renewable MoU establishes a framework for joint business forums, investment roadshows, trade missions, business matchmaking, enterprise capacity development, and increased promotion of BoI’s financing solutions to Belgian investors and businesses operating in Nigeria.
The collaboration is also expected to improve access to foreign direct investment, expand export-oriented industrial projects, and create stronger commercial linkages between BoI-supported enterprises and the Belgian business community.
Ambassador of the Kingdom of Belgium to Nigeria, His Excellency Pieter Leenknegt, commended the growing economic relationship between both countries and hoped that the partnership would create new opportunities for businesses on both sides.
The General Manager of the NBCC, Marc Eeckhout, described the agreement as a practical platform for translating business interest into measurable economic outcomes.
“This MoU represents more than an institutional partnership; it creates a structured bridge between Belgian innovation and Nigerian enterprise. By working closely with the Bank of Industry, we are opening new pathways for investment, technology exchange, and business collaboration that will enable companies from both countries to scale with confidence while contributing to sustainable industrial development,” he said.