BOI to Disburse More Credits to SMEs

Blessing Nwobodo-

The Minister of State for Commerce and Industry, Barrister Humphrey Abba, has disclosed that the Bank of Industry (BOI) is currently being empowered financially to disburse more credits to SMEs.
This was made known at the launching of the campaign for the patronage of Made-in-Nigeria products for south-west zone held in Lagos and organized by the Federal Ministry of Commerce and Industry in partnership with the Nigerian Association of Small and Medium Entreprises (NASME).
Speaking on the new development, the Head, Public Relations and Membership Services, NASME, Nerus Ekezie, says it is a right move on the part of government. He encouraged the BOI to be proactive in disbursing the credits to genuine SMEs, adding that “we hope that the BOI will also respond by accelerating the process of loan application with a view to making disbursement quicker than before.”
The campaign for the patronage of Made-in Nigeria products which is a brainchild of the minister, had over 300 people in attendance and about 120 exhibitors who were on ground to display their goods before attendees. The campaign will also be carried out in the other geo-political zones of the country.