December 10, 2024
By Idris Buba
The Bank of Industry, BOI, has said that it disbursed about N22.89 billion out of the N75 billion manufacturing sector intervention fund to 29 manufacturers.
Managing Director of the bank, Dr Olasupo Olusi, disclosed this on Monday at the first BOI interactive session with the Organized Private Sector in Abuja, .
Olusi said, that 20 other projects valued at N6.3billion were at different stages of disbursement out of the N75 billion manufacturing sector fund.
The BOI boss, said that the interactive session was a collaborative milestone to creating a thriving industrial sector, and a critical step in driving Small and Medium Enterprises, SME, development through strategic partnerships.
“Recently, we signed a Memorandum of Understanding, MOU, with your esteemed associations.
“This agreement underscores a simple truth that we cannot transform Nigeria’s industrial landscape alone.
He stated that under the signed agreement, the bank had already begun making strides through joint efforts on the Federal Government’s loans programme.
With “Driving SME Development through Strategic Partnerships” as theme of the event, it’s a task that everyone worked together.
READ MORE; CBN Earmark N50bn severance package For 1,000 Employees To Be Retired
“This includes addressing infrastructure deficit, regulatory bottlenecks, and access to markets.
“However, your expertise and insights are essential to inform these efforts.
“On collaborative innovation, we must work together to introduce technology, sustainability, and skills development as core pillars of SME growth.
“We are concerned about your most pressing challenges, your operations, how we can further align our programmes with your needs, and the innovative solutions we can pursue together to accelerate growth,” he said.
Olusi, listed MSME development, digital transformation, youth and skills development, climate and sustainability, gender inclusion, and sectoral growth as the six thematic areas of impact that BOI was focused on in line with President Bola Ahmed Tinubu’s renewed Hope Agenda.
“These are not just BOI’s priorities; they are national imperatives, and they require your active participation to succeed.
“The Bank of Industry stands as your partner in progress, ready to support at every step of the way as together we have the potential to transform Nigeria’s economic landscape.
