A total of N22.89 billion was disbursed to 29 manufacturers; this was disclosed by the Bank of Industry (BOI) in an interactive session with the organized private sector.
Dr. Olasupo Olusi, BOI’s Managing Director, spoke in the interactive session and highlighted the need for investors and stakeholders to create a thriving industrial sector and boost the development of small and medium enterprises (SMEs).
He further spoke about the N22.89 billion that came from an N75 billion intervention fund and that several other projects worth N6.3 billion were in a disbursement process.
Olusi emphasized how SMEs and government collaboration will only bring success and positive growth to the economy, especially when the manufacturing industry is struggling to see some growth in its indices.
He said, “Recently, we signed a Memorandum of Understanding (MOU) with your esteemed associations. This agreement underscores a simple truth: we cannot transform Nigeria’s industrial landscape alone.
“The journey to sustainable economic growth must be fueled by collaboration, innovation, and a shared resolve to address systemic challenges.”
He further added, “On collaborative innovation, we must work together to introduce technology, sustainability, and skills development as core pillars of SME growth.
“We are concerned about your most pressing challenges, your operations, how we can further align our programs with your needs, and the innovative solutions we can pursue together to accelerate growth.”
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