The Bank of Industry approved loans valued at N25.322 billion to 968 enterprises in the first quarter of 2014, the Acting Managing Director/Chief Executive Officer of BoI, Mr. Waheed Olagunju, has said.
This information was contained in a feedback document made available to the Ministry of Industry, Trade and Investment by Olagunju, while briefing the supervising Ministry on the activities of BOI. A breakdown of the figures shows that 98 per cent of the beneficiaries are Micro, Small and Medium Enterprises.
“In line with the focus of the Nigeria Industrial Revolution Plan (NIRP) and National Enterprise Development Programme (NEDEP), all the assisted firms can potentially generate 182,926 direct and indirect jobs. In terms of sectors, companies that produce building materials account for N9.8 billion, followed by agri-busness with N5.9 billion,” the Acting MD said.
Olagunju, who was appointed acting MD, pending the announcement of a substantive MD, is the most senior Executive Director of the bank.
The Acting MD assured stakeholders that BOI would continue to build on the solid foundation that had been laid under Ms. Oputu’s transformative leadership style.
While extolling Oputu’s outstanding performance in office, Olagunju stressed that the institution would continue to operate in line with best practices to enable it to contribute effectively to the successful implementation of NIRP and NEDEP.
The Minister of Industry, Trade and Investment, Olusegun Aganga, on behalf of the Federal Government, also commended Oputu for her brilliant performance in office, especially her able leadership qualities, which had brought about the rapid transformation of BOI into a first class Development Finance Institution, and wished her the best of luck in her future endeavours.
Olagunju will be required to ensure continuity with respect to the ongoing diligent implementation of NIRP and NEDEP in line with BOI’s mandate.
President Goodluck Jonathan, on February 11, officially launched the NIRP and NEDEP, describing the NIRP as the most ambitious and comprehensive road map that would transform the nation’s industrial landscape, boost skills development, enhance job creation and conserve foreign exchange.
“The NIRP is the flagship industrialisation programme ever embarked upon by this country. It will fast-track industrialisation, accelerate inclusive economic growth, job creation, transform Nigeria’s business environment and stop the drain on our foreign reserves caused by importing what we can produce locally,” the President had said.
