The opening of Bank of Industry (BOI)’s newest state office in Akwa Ibom underscores the development finance institution’s commitment to catalysing economic growth across Nigeria.
As BOI’s 32nd office established in the country, the expansion gives the bank greater reach and ability to support entrepreneurship locally.
This will also give the Bank the opportunity of increasing its impact across the Akwa Ibom business landscape, as the Bankhas already been supporting businesses in the state, with loans amounting to over N1.92 billion to Micro, Small, and MediumEnterprises (MSMEs) projects located in the state.
The managing director of the Bank of Industry, Olasupo Olusi,expressed enthusiasm about the bank’s presence in Akwa Ibom.
He highlighted the bank’s alignment with Governor Umo Eno Economic blueprint goals, which aims to transform the socio-economic landscape through sustainable growth, job creation,and developmental impact.
He reiterated the bank’s continued commitment to supporting private investments in key sectors such as agriculture, oil and gas, power and aviation, tourism, and healthcare, catalysing industrialisation and economic sustainability.
On further collaboration with the state government to support MSMEs, Olusi said “Looking ahead, we look forward to the successful implementation of a dedicated matching funds partnership with the state government to support indigenous enterprises and unlock the entrepreneurial capacity of youth in this great state.
“Furthermore, we appeal to the state government To urgently address some of the challenges relating to the issuance and registration of collateral titles towards improving the ease of doing business for enterprises within the state”.
The state office will offer a range of financial products and services tailored to meet the unique needs of the local community.
This includes funding support for businesses,capacity building initiatives, and financial literacy programs aimed at empowering entrepreneurs.
Bank of Industry has a proven track record of catalysing economic growth in various regions across Nigeria.
