Buhari Lauds BOI For Creating 9m Jobs

Related stories

June 12: Tinubu To Address Senate, Reps Joint Session On Democracy Day

By Kolawole Ojebisi As parts of commemoration of democracy day...

NUT Speaks On Why FG’s Planned Computer-based Examinations Won’t Curb Malpractices

By Kolawole Ojebisi The Nigeria Union of Teachers, (NUT), has...

Gowon Reflects on Nigerian Civil War, Says It Was a Painful Duty, Not a Choice

By Abiola Olawale Former Nigerian Head of State, General Yakubu...

Nigeria Celebrates Democracy as FG Declares June 12 Public Holiday

By Abiola Olawale The Federal Government has declared Thursday, June...

President Muhammadu Buhari has lauded the Bank of Industry (BOI) for creating more than nine million jobs in the last seven years.

He also commended BOI for disbursing over N1.24 trillion to 4.2 million beneficiaries in Micro, Small, Medium and Large enterprises.

The president made the commendation when he virtually inaugurated the Second Tower of BOI building, in Abuja on Thursday.

Buhari said that the bank had continued to successfully execute its mandate as a policy institution of the Federal Government, extending single digit interest rate loans to manufacturers.

He, therefore, commended the management of the Ministry of Industry, Trade and Investment and BOI for their contributions to the economic development of the country and wellbeing of Nigerians.

He said: “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.

‘‘I am glad to note that the Bank has recently completed the transaction by raising 750 million Euros 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.”

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

On the new building, Buhari 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.”

In his remarks, the Minister of Industry, Trade and Investment, Adeniyi Adebayo, thanked the President for the confidence reposed in the bank, appointing it partner of several laudable projects which have helped in poverty reduction, job creation and sustenance of indigenous enterprises.

He also lauded the president for approving the sovereign guarantee for the BOI’s maiden 50 million Euro-Bond issue which was successfully concluded in February this year.

He added that the feat represented BOI’s first Euro-Bond denominated transactions from Nigeria, which would create a benchmark for other prospective issuance from Africa.

The New Diplomat
The New Diplomathttps://newdiplomatng.com/
At The New Diplomat, we stand for ethical journalism, press freedom, accountable Republic, and gender equity. That is why at The New Diplomat, we are committed to speaking truth to power, fostering a robust community of responsible journalism, and using high-quality polls, data, and surveys to engage the public with compelling narratives about political, business, socio-economic, environmental, and situational dynamics in Nigeria, Africa, and globally.

Subscribe

- Never miss a story with notifications

- Gain full access to our premium content

- Browse free from up to 5 devices at once

[tds_leads input_placeholder="Your email address" btn_horiz_align="content-horiz-center" pp_msg="SSd2ZSUyMHJlYWQlMjBhbmQlMjBhY2NlcHQlMjB0aGUlMjAlM0NhJTIwaHJlZiUzRCUyMiUyMyUyMiUzRVByaXZhY3klMjBQb2xpY3klM0MlMkZhJTNFLg==" pp_checkbox="yes" tdc_css="eyJhbGwiOnsibWFyZ2luLXRvcCI6IjMwIiwibWFyZ2luLWJvdHRvbSI6IjQwIiwiZGlzcGxheSI6IiJ9LCJwb3J0cmFpdCI6eyJtYXJnaW4tdG9wIjoiMTUiLCJtYXJnaW4tYm90dG9tIjoiMjUiLCJkaXNwbGF5IjoiIn0sInBvcnRyYWl0X21heF93aWR0aCI6MTAxOCwicG9ydHJhaXRfbWluX3dpZHRoIjo3NjgsImxhbmRzY2FwZSI6eyJtYXJnaW4tdG9wIjoiMjAiLCJtYXJnaW4tYm90dG9tIjoiMzAiLCJkaXNwbGF5IjoiIn0sImxhbmRzY2FwZV9tYXhfd2lkdGgiOjExNDAsImxhbmRzY2FwZV9taW5fd2lkdGgiOjEwMTksInBob25lIjp7Im1hcmdpbi10b3AiOiIyMCIsImRpc3BsYXkiOiIifSwicGhvbmVfbWF4X3dpZHRoIjo3Njd9" display="column" gap="eyJhbGwiOiIyMCIsInBvcnRyYWl0IjoiMTAiLCJsYW5kc2NhcGUiOiIxNSJ9" f_msg_font_family="downtown-sans-serif-font_global" f_input_font_family="downtown-sans-serif-font_global" f_btn_font_family="downtown-sans-serif-font_global" f_pp_font_family="downtown-serif-font_global" f_pp_font_size="eyJhbGwiOiIxNSIsInBvcnRyYWl0IjoiMTEifQ==" f_btn_font_weight="700" f_btn_font_size="eyJhbGwiOiIxMyIsInBvcnRyYWl0IjoiMTEifQ==" f_btn_font_transform="uppercase" btn_text="Unlock All" btn_bg="#000000" btn_padd="eyJhbGwiOiIxOCIsImxhbmRzY2FwZSI6IjE0IiwicG9ydHJhaXQiOiIxNCJ9" input_padd="eyJhbGwiOiIxNSIsImxhbmRzY2FwZSI6IjEyIiwicG9ydHJhaXQiOiIxMCJ9" pp_check_color_a="#000000" f_pp_font_weight="600" pp_check_square="#000000" msg_composer="" pp_check_color="rgba(0,0,0,0.56)" msg_succ_radius="0" msg_err_radius="0" input_border="1" f_unsub_font_family="downtown-sans-serif-font_global" f_msg_font_size="eyJhbGwiOiIxMyIsInBvcnRyYWl0IjoiMTIifQ==" f_input_font_size="eyJhbGwiOiIxNCIsInBvcnRyYWl0IjoiMTIifQ==" f_input_font_weight="500" f_msg_font_weight="500" f_unsub_font_weight="500"]

Latest stories

NDN
Latest News
June 12: Tinubu To Address Senate, Reps Joint Session On Democracy DayNUT Speaks On Why FG's Planned Computer-based Examinations Won't Curb MalpracticesTension in Colombia as Presidential Hopeful Miguel Uribe Shot 3 Times at Campaign Rally in Critical StateGowon Reflects on Nigerian Civil War, Says It Was a Painful Duty, Not a ChoiceNigeria Celebrates Democracy as FG Declares June 12 Public HolidaySERAP Tells Tinubu to Appoint Integrity-Driven Nigerians as INEC CommissionersWhy I Prosecuted The Civil War --- GowonTinubu Mourns Legendary ‘Gwo Gwo Ngwo’ Crooner Mike EjeaghaNigeria Already Sliding into Dictatorship, Ozekhome WarnsName National Assembly Members Behind Benue Killings, PDP Challenges AliaBenue Attacks: Big Names, Politicians Indicted By Judicial Panel Reports ---AliaOzekhome Decries Judges' Poor Remunerations, Bad State Of Nigerian CourtsLeadership Lessons From AfDB's Akinwumi AdesinaTrump asks aides if they think Musk’s behavior could be related to alleged drug use, source saysVisualizing Trump’s 2026 Budget Proposal
X whatsapp