The Bank of Industry (BOI) has announced the disbursement of ₦22.89 billion to 29 manufacturers from its ₦75 billion manufacturing sector intervention fund.
BOI’s Managing Director, Dr. Olasupo Olusi, shared this update during the bank’s inaugural interactive session with the Organised Private Sector, held in Abuja and monitored virtually on Monday.
In addition to the disbursed funds, Dr. Olusi disclosed that another 20 projects valued at ₦6.3 billion are at various stages of disbursement, underscoring the bank’s commitment to revitalising Nigeria’s manufacturing sector.
Dr. Olusi described the interactive session as a pivotal milestone and a testament to BOI’s shared vision of fostering a robust industrial sector. Highlighting the importance of collaboration, he stated, “The journey to sustainable economic growth must be fuelled by collaboration, innovation, and a shared resolve to address systemic challenges.”
He noted that the recently signed Memorandum of Understanding (MoU) between BOI and private sector associations symbolises the bank’s readiness to work collectively to transform Nigeria’s industrial landscape.
Themed “Driving SME Development through Strategic Partnerships,” the event emphasised the need for a united front in overcoming challenges facing Small and Medium Enterprises (SMEs).
BOI’s role, according to Dr. Olusi, extends beyond financing to fostering an enabling business environment. This includes addressing critical infrastructure gaps, reducing regulatory bottlenecks, and enhancing access to markets.
He called for collaborative innovation, urging stakeholders to prioritise technology adoption, sustainability practices, and skills development as essential components of SME growth.
Dr. Olusi urged the organised private sector to align efforts with BOI’s six thematic areas of focus, which are:
MSME development,
Digital transformation,
Youth and skills development,
Climate and sustainability,
Gender inclusion, and
Sectoral growth.
“These are not just BOI’s priorities; they are national imperatives that require your active participation to succeed,” he stressed.
Partnering for Economic Transformation
Dr. Olusi assured stakeholders of BOI’s unwavering support, stating, “The Bank of Industry stands as your partner in progress. Together, we have the potential to transform Nigeria’s economic landscape.”
As the bank continues its efforts to revitalise the manufacturing sector and drive SME development, the emphasis on strategic partnerships and innovation remains central to achieving sustainable economic growth.
 has announced the disbursement of ₦22.89 billion to 29 manufacturers from its ₦75 billion manufacturing sector...){kind=link}