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Bank Of Industry Generated 9m Jobs Since 2015 – Buhari

Bank Of Industry Generated 9m Jobs Since 2015 – Buhari

President Muhammadu Buhari on Thursday in Abuja, lauded the Bank of Industry (BoI), for creating over nine million jobs in the last seven years as well as disbursing over N1.24 trillion to 4.2 million beneficiaries in Micro, Small, Medium, and Large enterprises. THE WILL reports.

According to THE WILL, speaking at the commissioning of the Second Tower of BoI building, President Buhari in a statement by his Special Adviser on Media and Publicity, Femi Adesina, said the Bank has continued to successfully execute its mandate as a policy institution of the Federal Government, extending single-digit interest rate loans to manufacturers.

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“In order to further enhance its capacity to impact the industrial sector on a transformational scale, I approved the issuance of a sovereign guarantee to help the Bank raise funds in the Eurobond market”. Information Guide Nigeria

‘‘I am glad to note that the Bank has recently completed the transaction, by raising €750 million from international investors.

“The proceeds of this Eurobond will be disbursed to Large, Medium & Small Enterprises, and women entrepreneurs with bankable projects.

‘‘It is commendable that the Bank sources its own funds for lending, based on its investment-grade ratings by the rating agencies”, he said. jamb results

President Buhari, therefore, urged the management of the Bank to ensure that its impact is felt all over the country.

On the new building, the President said he was “particularly impressed that this world-class building was financed from Internally Generated Revenue (IGR) of the Bank.

“The building represents the Bank’s contribution to the growing list of work-related infrastructure in the Federal Capital Territory. It is another remarkable milestone in the Bank’s growth”.

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goodnews

Essien, Goodnews is a gruaduate of Communication Arts, University of Uyo, Uyo; Currently working at Infoguide Media as a news writer.

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