The Federal Government has directed the Bank of Industry (BOI) to fund special economic zones being set up across the country and businesses that can boost industrialisation as part of the nation’s Economic Recovery and Growth Plan (ERGP).
The Minister of Industry, Trade and Investment, Dr Okechukwu Enelamah, gave the directive when he inaugurated a 10-man board for the Bank of Industry in Abuja.
The Minister charged the board to drive the country’s industrialisation through increased funding for enterprises, especially the micro, small and medium scale.
Enelamah said the board should integrate the implementation of the ERGP and the economic zones into its plans.
The Chairman of the board, Abdurahman Aliyu Dikko, said members would work hard to evolve ways of diversifying the economy, raising capital for businesses as well as partner with international development finance institutions.
The Managing Director of BoI, Mr Olukayode Pitan, said that the bank was focusing on increasing the amount of funds it can lend to businesses.
Other members of the board are Mr Olukayode Pitan, Mr Waheed Olagunju, Mrs Toyin Adeniji, Mr Jonathan Tobin, Mr Simon Aranonu, Mr Chukwuemeka Nzewi, Dr Bakari Wadinga, Mr Femi Edun and Dr Mudashiru Olaitan.
