Bank of Industry (BOI) Entrepreneurs Empowerment of N13 Billion Loans


The Bank of Industry (BOI) is Nigeria’s development financing institution providing financial assistance and entrepreneurs empowerment to growing business for the establishment, loan support for medium and small projects, expansion of business and modernisation of existing enterprises. Bank of Industry therefore disclosed that the industry offers several loans to the general public.

Bank of Industry (BOI) disclosed that the Bank is set to offer loan to small medium enterprises owned and promoted by women has hit N13bn, noting that plans are underway to improve access of related businesses to developmental financing.

The Acting Managing Director of the Bank of Industry (BoI), Mr. Waheed Olagunju also disclosed that this was in pursuant to the institution agenda of helping individual and enterprises and support the diversification programme of the Federal Government of Nigeria and also empower youth in job creation and employment through empowerment of women entrepreneurs

The statement quoted the Acting Managing Director of the Bank of Industry (BoI), Mr. Waheed Olagunju,  states that ‘Be bold for change’, to commemorate the 2017 International Women’s Day.

The Acting Managing Director of the Bank of Industry (BoI), Mr. Waheed Olagunju, disclosed that there was a need for women-owned businesses to take bold decisions in driving growth as well as social and economic change.

The Acting Managing Director of the Bank of Industry (BoI), Mr. Waheed Olagunju, in his speech at the Executive Director, Micro-Enterprises,  Bank of Industry (BOI), Mrs. Toyin Adeniji, stated that though portfolio lending to women had doubled, denoting that women were doing a lot economically, there was  a lot more to be done in improving women’s access to finance.

The Acting Managing Director of the Bank of Industry (BoI), Mr. Waheed Olagunju, states that

“Women are playing a vital and key role in the economy. Women should be involved in policies and decision making in a world where they struggle to be seen and respected. Thirty per cent of registered businesses are led by women, a reflection of the fact that women are economic forces and drivers of social and economic change.”

The CEO of PathCare Laboratories, Dr. Pamela Ajayi, also elaborates that there was a need for government to prioritize the health and educational sectors for financing, considering the impact of the sectors on the nation’s well-being, adding that the lingering recession had further made businesses to renegotiate terms of trade and explore cheaper ways of doing business.

One of the beneficiaries and Chief Executive Officer of SecureID Limited, Mrs. Kofo Akinkungbe, was quoted as saying that her firm had started a backward integration agenda to increase sourcing of raw materials locally.

The CEO of Reel-Fruit, Affiong Williams, states that the depreciation of the naira currency had further promoted export among operators positively.

The Divisional Head, Large Enterprises, BoI, Joseph Babatunde, was said to have urged successful women entrepreneurs to promote mentorship as part of measures to improve the growth of women-owned businesses, while emphasising the need to encourage value-addition by many enterprises.

Women entrepreneurs are therefore advised to take opportunity of the N13 billion loan offer by the Bank of Industry (BOI)


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