My people, e be like say wetin dey happen for Naija no be small matter o! President Bola Tinubu don shine eye on Bank of Industry as dem don disburse N636 billion to businesses last year. Na im be the highest wey BOI don do for dem history, and Tinubu no fit hide im joy!
The koko be say, Tinubu dey yan say this money no be just figure wey dem dey throw around. E mean say e dey support economic agenda wey go fit carry our obodo forward. According to am, the way dis money dey flow go help plenty sectors, from agriculture, manufacturing, and even infrastructure. Na serious work wey dem dey do to improve productivity and create job for people.
When we check the breakdown, agro-allied businesses carry the largest share, N202 billion, while critical infrastructures like power and transport chop N100 billion too. Manufacturing no too far behind with N79 billion, and extractive industries sef collect N77 billion. E no stop there, small and medium enterprises chop N178 billion, as big companies carry N375 billion. Na only N32 billion come reach micro businesses!
This gist no just dey end for money matter o! BOI don talk say dem impact over 1.6 million jobs through this finance wahala. Dem support over 7,000 small businesses and 570 startups as dem dey carry people along with the N200 billion MSME intervention programme. Over 95% of di money don land correctly for di people wey need am.
Women too dey benefit as dem get access to N10 billion through di Guaranteed Loans for Women Programme, wey dey enable dem to get up to N50 million each. Youths no gree lag behind as dem receive N12 billion as support for dem businesses. E be like say dis finance matter dey shine light on everybody!
As Tinubu dey talk, we no go dey slack! E sweet as we dey see how these funds dey connect over 47,000 smallholder farmers to processing value chains. BOI dey also work on reducing carbon emissions by supporting renewable energy projects. Na so dem talk say dem don connect over 11,000 customers to electricity!
And guess wetin? BOI still maintain correct asset quality, with non-performing loan ratio dey below 1.5%. Dis one na clear indication say dem dey follow strict rules as dem dey scatter money for good causes. Tinubu even hail them for getting €2 billion from abroad plus extra €210 million wey go boost dem lending capacity. Na so e dey talk say development finance suppose dey disciplined and fit with national plans.
With all these gbege wey dey happen, na real transition we dey witness for our economy. Naija go dey shine for production and enterprise growth, and Tinubu dey vow say him administration go push for more reforms and enhance credit access for people. As e dey go so, BOI don become one of our major players globally, and e fit carry plenty help to our obodo!
Do you have a news tip for NNN? Please email us at editor @ nnn.ng
