Bank of Industry (BOI), has invested N3.9 billion in Kebbi state through the disbursement of loans to agro based enterprises, Managing Director of the Bank, Olukayode Pitan, has disclosed.
Making this known on Monday during a visit to the state governor in Birnin Kebbi, he said out of the amount, the sum of N2.8 billion went to Small and Medium Scale Enterprises (SMEs), while N1.21 billion was invested in bigger enterprises.
He noted that the Bank had also approved the sum of N1.5 billion recently for two industries in the state, adding that Zango Kangiwa rice project and Mtech Universal Engineering that specialise in weaving sacks were expected to benefit from the loan.
“The bank opened its office in the state in 2017 and since then it has made a lot of impacts. The bank has invested N3.9 billion in the state with N2.8 billion for SMEs while N1.21 billion for large enterprises.
Recently, the bank had also approved N1.5 billion for two industries in the state,” he said.
In his remark, Governor Abubakar Atiku Bagudu said the state government would remain committed to its entrepreneurship drive, saying the intervention of the Bank of Industry through partnership has eased the means of doing business in the state.
