The Bank of Industry (BOI) announced that it has disbursed a total of ₦29 billion to 22,890 manufacturers under its intervention fund for the manufacturing sector.
The Bank of Industry (BOI) has disbursed ₦29 billion to 22,890 manufacturers as part of the ₦75 billion Manufacturing Sector Fund. BOI Managing Director Olasupo Olusi shared this update during the inaugural BOI Interactive Session, held in Abuja and streamed virtually.
Olusi revealed that 6,300 projects, valued at ₦20 billion, are in various stages of disbursement under the fund. Highlighting the event’s significance, he emphasized the role of strategic collaborations in advancing Small and Medium Enterprises (SMEs) and supporting Nigeria’s industrial landscape.
Olusi also discussed a recently signed Memorandum of Understanding (MOU) with key industry associations, underscoring the need for innovation, partnerships, and systemic problem-solving to achieve sustainable economic growth. The BOI is committed to fostering an enabling environment by addressing challenges like infrastructure deficits, regulatory barriers, and market access.
Under the theme “Driving SME Development through Strategic Partnerships”, the session called for reimagining collaboration and aligning efforts with President Bola Tinubu’s Renewed Hope Agenda. BOI’s six thematic areas of focus include MSME development, digital transformation, youth and skills development, climate and sustainability, gender inclusion, and sectoral growth.
Olusi reaffirmed the BOI’s dedication to being a transformative force in Nigeria’s economic landscape, stating, “The Bank of Industry stands ready to support you at every step of the journey.”
