President Muhammadu Buhari has said the Bank of Industry (BOI) has distributed over N1.4trn to micro, SMEs and large enterprises in the country thereby creating over nine million jobs for Nigerians.
The president, who made the disclosure Thursday at the commissioning of the second tower of BOI added that the €700m Eurobond recently raised would provide more funding for the growth of businesses in Nigeria.
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“The BoI has continued to successfully execute its mandate as a policy institution of the federal government. Through the Bank of Industry, this government extended the single-digit interest rate loans.
Speaking, the Minister of Industry Trades and Investment, Niyi Adebayo commended the National Assembly for approving the sovereign guarantee for BoI’s maiden Eurobond transaction of €750m.
In his remarks, the BoI’s Chairman, Aliyu AbdulRahman Dikko, said that for decades, the bank had delivered appreciable results on its mandate towards transforming Nigeria’s industrial sector by providing affordable and long-term financing across key segments and sectors of the economy.
The Managing Director of BOI, Olukayode Pitan, said the bank had raised close to $4bn in the last four years from over 100 international banks/investors in over 20 Countries.
