BoI to Increase Funding Profile for Agro-Processors

To drive the Federal Government’s Industrial Revolution Plan, the Bank of Industry (BoI) has unveiled plans to leverage value-addition initiative of government by improving access to funds of businesses and firms involved in agro-processing.
The bank noted that its intervention would be restricted to its mandate, as it would not focus on primary agriculture or agricultural development. Managing Director/Chief Executive of BoI, Rasheed Olaoluwa, said the institution, through its intervention, intends to move Nigerians from farming to small-scale enterprises, food processing and industrialised agro-industries. Speaking during an oversight function of members of the Senate Committee on Investment to the Bank’s Corporate Headquarters in Lagos, recently, the BOI chief executive in a statement made available to The Guardian, explained that the bank has been trying to key into the government’s Industrial Revolution Plan as well as the National Enterprises Development Programme of the present administration.

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