The Bank of Industry Limited (BoI) has taken significant steps to enhance its reach across Nigeria, with a particular focus on promoting economic growth, financial inclusion, and entrepreneurship development.
This commitment was underscored during the opening of its 32nd state office in Akwa Ibom State.
Olasupo Olusi, the Managing Director of BoI, expressed optimism about the bank’s expanded presence in Akwa Ibom, emphasizing the opportunity to amplify its impact on the state’s business landscape. He highlighted BoI’s ongoing support for businesses in Akwa Ibom, citing loans totaling over N1.92 billion provided to Micro, Small, and Medium Enterprises (MSMEs) projects in the state.
Olusi also lauded the alignment of BoI’s objectives with Governor Umo Eno’s economic blueprint, aimed at driving sustainable growth, job creation, and developmental impact in Akwa Ibom. He revealed plans for further collaboration with the state government to establish a dedicated matching fund partnership, aimed at supporting indigenous enterprises and empowering youth entrepreneurship.
Furthermore, Olusi urged the state government to address challenges related to collateral issuance and registration, emphasizing the importance of improving the ease of doing business for enterprises within the state.
Inaugurating the BoI branch office, Governor Umo Eno reiterated his administration’s commitment to supporting Small and Medium Scale Enterprises (SMEs) as a catalyst for economic development. He commended BoI’s role in transforming Nigeria’s industrial sector and providing essential financial support to SMEs and large enterprises.
Governor Eno emphasized the significance of SMEs as drivers of economic growth and praised BoI’s provision of low-interest, long-term loans to facilitate entrepreneurship and sustainable development. He highlighted the importance of partnership and access to funding in fostering enterprise growth and expressed confidence in BoI’s ability to support the state’s economic aspirations.
The establishment of the BoI branch in Akwa Ibom reflects a strategic collaboration between the public and private sectors to advance economic prosperity, job creation, and entrepreneurship development in the state.
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