BoI set to raise 1 trillion Naira to fund industrialization

Nigeria’s Bank of Industry (BOI) has revealed plans to raise N1trillion to fund industrial activities across all sectors of the Nigerian economy.

The Managing Director of BOI, Mr. Olukayode Pitan who revealed this at the inauguration of the governing board of the bank in Abuja, said the the band is already working with other financial institutions in the country and international development Association.

Mr. Pitan said the bank would continue to support industrial activities in all sectors of the economy by providing necessary support financially and otherwise.

Our mandate is national, part of our programme for this year is to increase the amount of money we make available, so, we plan in the next 12 months to raise about N1 trillion and work is already advance in some, Pitan said.

Inaugurating the board, the Minister of Industry, Trade and Investment, Dr. Okechukwu Enelamah, said BOI is strategic to the country’s development as it has earned the trust of key agencies and institutions of government.

The bank has effectively collaborated with the ministry in the area of project financing and that the ministry is delighted in working with the Bank and other development institutions such as the Industrial Trust Fund (ITF), Small and Medium Scale Development Agency (SMEDAN), and the Nigerian Export Promotion Council (NEPC), he said.

Responding, the chairman of the boardaji Mr. Aliyu Dikko said board members will justify their appointments as a call to national service by being transparent in performing their oversight duties.

Other members of the board are Mr Olukayode Pitan, Mr Waheed Olagunju, Mrs Toyin Adeniji, Mr Jonathan Tobin, Mr Simon Aranonu, Mr Chukwuemeka Nzewi, Dr Bakari Wadinga, Mr Femi Edun and Dr Mudashiru Olaitan.

Source: Voice of Nigeria