The Managing Director, Bank of Industry (BoI), Mr. Olukayode Pitan, has disclosed that the bank has disbursed over N24 billion to industrialists in Kano State.
Pitan, who released the figure at the weekend during a meeting with the Kano State governor, also disclosed that the bank had in the process generated about 96,000 direct and indirect jobs in Micro Small and Medium Enterprises (MSMEs) sub-sectors of the state.
Pitan said the funds were generated through different funding windows such as BoI/KNSG matching fund, Bol-Dangote fund, GEEP (Market Moni), FG MSME fund , YES -P fund and GEF fund.
He said the funds were invested across various sectors of the Kano State economy which include agro-business, petrochemical and gas, metal fabrication, infrastructure and solid
Speaking on the bank’s efforts to deepen its presence in the state, Pitan said, "BoI has commenced cluster-based programme that are targeted at funding projects in the 40 identified clusters and to this effect, BoI shall continue to accord priority to these clusters under the programme.”
He identified some of the cluster as Rice cluster in Kura, Kabiya and Bunkure-Argo mechanization, Tomato cluster in Kadawa-tomato fund and Leather cluster at Kofa Wambai-leather fund.
Pitan called on the government to release the second tranche of the N500 million to enable the bank accelerate the pace of industrial development in the State.
Governor Abdullahi Ganduje of Kano State urged the BoI to target more entrepreneurs in the state and even as he berated some entrepreneurs in the state who often see loan from government as “free money”.
Ganduje said, "The attitude of some entrepreneurs in the state to loan repayment is worrisome. We are having problem with people who collect loans using government as guarantor and are not willing to pay back.”
