BOI Raises Funding Of MSMEs By 42%

The Bank of Industry (BOI) has  raised  the stake in the Micro Small and Medium Enterprises (MSMEs) higher to sustain their operations throughout the country.
Speaking to newsmen in Lagos on Monday, Acting Managing Director, Mr. Waheed Olagunju, said that the  bank  had increased its disbursement to small businesses to N8 billion in 2016, representing 42 per cent increment from N5.6 billion in 2015.
Olagunju said that the increment would ensure more Nigerians get access  to finance to create opportunities for rapid development of their businesses and the growth of the economy.
He said that the bank’s efforts are  being appreciated  by MSMEs as partners in business to sustain their business growth throughout the country, adding that the bank would continue  to adhere strictly to its core  mandates to foster  development  and economic  growth of MSMEs.
He explained that in 2017, the bank would double  its  strategic plans for   penetration into the rural  areas and assist  medium  enterprises  to create wealth and job opportunities  for Nigerians.
He called for the continuous  support of Nigerian businessmen  toward the bank to achieve its  strategic  goals and objectives.