The Bank of Industry, BOI has disclosed that loans totaling N18 billion have been made available to the South-west zone of the country so as to boost small and medium scale businesses.
This was disclosed by the BOI Managing Director/Chief Excutive Officer, Rasheed Olaoluwa yesterday in Ibadan, at the inauguration of the West Regional and Oyo state offices of the BOI at Ibadan.
Olaoluwa, stated that the loan will cover areas including Ogun, Osun, Ondo and Ekiti states but Lagos would be taken care of specially in the bank’s industrialisation efforts at growing entrepreneurship ventures across the 36 states of the Federation.
“Oyo State is very crucial to BOI’s strategy of ensuring that our development finance services are brought closer to the people of the State especially in our bid to vastly improve our service delivery efficiency, while also reaching out to all parts of the entire South West Region.” Olaoluwa said
However, he noted that over N10 billion has been given to about 80 firms and micro enterprises across Oyo State as at March this year.
“To date, the bank has recorded a total loan approval of N375 million in respect of 68 enterprises.“Of this amount, a total of N225 million had been disbursed to 35 enterprises.
Additional disbursements to 17 other enterprises in the sum of N104 million is currently being processed while some of the new beneficiaries are being presented with their cheques at the BOI’s South West Customer Forum later in the day (yesterday),” the Managing director stated.
Also at the event, Oyo State Governor, Senator Abiola Ajimobi, who was represented by his Deputy, Mr. Moses Alake Adeyemo observed that the new BOI’s Regional and State Offices would deepen the bank’s developmental impact in the five states comprising Oyo, Osun, Ondo, Ekiti and Kwara States that it is out to serve.
Ajimobi said no nation could ever prosper without putting the natural resources at its disposal into effective use through secondary production.
Culled from: Post-Nigeria.com
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