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BoI, Kebbi to float N2bn MSMEs fund

The Bank of Industry (BoI) and Kebbi State government have agreed to set up N2 billion loan scheme to support entrepreneurship development in the state.…

The Bank of Industry (BoI) and Kebbi State government have agreed to set up N2 billion loan scheme to support entrepreneurship development in the state.  

The Acting Managing Director of BoI, Mr. Waheed Olagunju, disclosed this after a visit to Kebbi State Governor, Abubakar Atiku Bagudu, at the weekend. 

He said the fund which would be made up by contribution of  N1 billion ‎by each party, would be dedicated to assisting the development of Micro, Small and Medium Enterprises in the state.

The BoI boss also maintained that the agricultural sub-sector would be given priority in the disbursement of the fund.

Olagunju assured Governor Bagudu that the state would enjoy enormous benefits from the BoI partnership as the bank had been able to provide attractive financial services, lending at single digit interest rate in benefiting states.

“A lot of fishing takes place here. Onions are grown here, so we want to see how we can come in and work with you. 

“In other states where we have subsisting relationship, we have been able to lend at single digits,” the BOI boss said.

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