Efforts to reflate the Nigerian economy have seen the Bank
of Industry (BOI) disbursing over N1.24 trillion to 4.2 million beneficiaries
drawn from the micro, small, medium and large enterprises.
This initiative has also elicited commendations from
President Muhammadu Buhari, who estimates that the Bank has created over nine
million jobs in the last seven years.
The commendation came just as the President was
commissioning the Second Tower of the BOI building, in Abuja.
President Buhari said the Bank has continued to successfully
execute its mandate as a policy institution of the Federal Government,
extending single-digit interest rate loans to manufacturers.
He also lauded the management of the Ministry of Industry,
Trade and Investment and the BOI for what he described as invaluable
contributions to the economic development of the country and the wellbeing of
Nigerians.
His words, “To further enhance its capacity to impact the
industrial sector on a transformational scale, I approved the issuance of a
sovereign guarantee to help the Bank raise funds in the Eurobond market.
‘‘I am glad to note that the Bank has recently completed the
transaction by raising 750 million Euros from international investors.
“The proceeds of this Eurobond will be disbursed to Large,
Medium & Small Enterprises, and women entrepreneurs with bankable projects.
‘‘It is commendable that the Bank sources its own funds for
lending based on its investment-grade ratings by the rating agencies.”
Advertise on NigerianEye.com to reach thousands of our daily users
No comments
Post a Comment
Kindly drop a comment below.
(Comments are moderated. Clean comments will be approved immediately)
Advert Enquires - Reach out to us at NigerianEye@gmail.com