The Bank of Industry (BOI) has disbursed N22.89 billion to 29 manufacturers under the Federal Government’s N75 billion Manufacturing Sector Intervention Fund.
The Managing Director of BOI, Olasupo Olusi disclosed this during an interactive session with the Organised Private Sector in Abuja.
According to Olusi, an additional 20 projects, valued at N6.3 billion, are currently in various stages of disbursement under the same initiative.
In October 2024, BOI launched its application portal for the N75 billion Micro, Small, and Medium Enterprises (MSME) Intervention Fund, aimed at empowering Nigeria’s small business sector. The initiative offers loans of up to N1 million to MSMEs at a competitive 9% interest rate for a three-year term, with no collateral requirements.