BoI to provide N1bn loans to small, medium enterprises in Kebbi

Waheed Olagunju, the Acting Managing Director of  Bank of Industry, says  the bank will give N1 billion in loans to  small and medium-scale enterprises in Kebbi State.
Olagunju made the promise when he visited Kebbi Gov. Atuku Bagudu in Birnin Kebbi on Thursday.
He said the bank would give the loans at highly concessional terms, while the state would advance the loan at five per cent interest rate.
He said the bank would partner with the state to support agricultural production, especially processing and packaging of agricultural products.

Olagunju said the bank would sustain its support to small and medium-scale enterprises, stressing that the BoI was in partnership with UNDP for the development of the industrial sector.
Bagudu said his administration would support the partnership with the bank to develop small and medium- scale enterprises.
He directed the secretary to the state government to provide a befitting office accommodation to state branch of the bank and assured Olagunju of the state’s support to the bank.
Bagudu called on stakeholders to support the bank to facilitate economic and industrial development that would assist in diversify the resource base of the economy.

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