The Bank of Industry (BOI) has disbursed N22.89 billion to 29 manufacturers under the Federal Government’s N75 billion Manufacturing Sector Intervention Fund. BOI Managing Director, Olasupo Olusi, announced this during an interactive session with the Organised Private Sector in Abuja.
Olusi also revealed that an additional 20 projects valued at N6.3 billion are in various stages of disbursement under the initiative. He described the fund as a key milestone aimed at fostering collaboration and advancing Nigeria’s industrial sector, particularly Small and Medium Enterprises (SMEs).
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The National President of the Nigerian Association of Small Scale Industrialists (NASSI), Solomon Vongfa, praised the initiative as a “beacon of hope” for Micro, Small, and Medium Enterprises (MSMEs). He emphasised its potential to drive economic growth, create jobs, and encourage innovation.
To ensure accessibility, Vongfa said NASSI is conducting workshops, seminars, and outreach programmes across all 36 states to educate business owners on how to benefit from the loans.
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