According to figures obtained from the , a total of 25,000 Micro, Small and Medium Enterprises received the sum of N1tn to boost their operations in the last 15 years.
The amount was disbursed to the companies operating in key sectors of the economy such as agriculture, solid mineral processing, petro chemical and polymer industry, cotton and textile industry.
Others are automobiles, creative industries, as well as Information Communications Technology
The BoI revealed that the funds which were given as loans at single-digit interest rates with a long repayment period had impacted significantly on the Nigerian economy,with over five million direct and indirect jobs created.
The Acting Managing Director, Bank of Industry, Mr. Waheed Olagunju, said, “It is gratifying to note that in the last one and a half decades, the BoI has continued to make giant strides in pursuit of its developmental mandate. The bank has invested over one trillion naira in more than 25,000 small, medium and large enterprises.
“Having approved loans in excess of over N1tn over the last decade and a half in its quest to transform the industrial sector in Nigeria, the Bank of Industry is indeed well positioned to keep intervening in key sector of the Nigerian economy, especially as the drive for sustainable national economic diversification gains significant momentum.”
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