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Friday, 19 May 2017

BOI in Borno State: BoI to finance Borno MSMEs with N2bn


Olagunju also added that the fund would enable the state leverage on its abundance of rich agricultural and mineral resources.  “The agro-allied projects can be developed along the agrarian products such as sorghum, millet, maize, groundnut, tomatoes and water melon which are widely produced in the state,” he added.

Bank of industry ties NGN2.0BN financing agreement with governor Shettima's administration to develop MSMES in the state. 
Some normalcy returning to Nigeria's NE state on steady military offensive. 


Under the terms of agreement, BoI is expected to provide N1bn which would be matched in equal sum by the state government.
Olagunju said the matching fund scheme,  which was being implemented in partnership with state government, was aimed at empowering youths by creating job and inculcating entrepreneurship development.
He said the pact was hinged on the need to consolidate on the gains of restoration of peace in Borno  State by engaging in activities that would engender sustainable economic activity
He said,”This is in pursuit of the bank’s policy on inclusive development and the desire to bring its products and services closer to the grass-root that necessitated the bank’s resolve to push for a partnership with the state government so as to sustain our continued effort to serve Borno State better and vastly improve on the turnaround time for processing transactions.”

Olagunju also added that the fund would enable the state leverage on its abundance of rich agricultural and mineral resources.
“The agro-allied projects can be developed along the agrarian products such as sorghum, millet, maize, groundnut, tomatoes and water melon which are widely produced in the state,” he added.

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