BoI Disburses ₦517b to Key Sectors of the Economy

The Bank of Industry (BoI) has so far disbursed ₦517billion to key sectors of the economy under the Federal Government’s intervention programme.

A breakdown of the interventions shows that out of the ₦235billion Central Bank of Nigeria’s Refinancing/Restructuring Fund of commercial banks loans to the manufacturing sector, about ₦229.18billion had been disbursed as of the end of the first quarter of 2013 with over 525 companies benefiting from the scheme.

The bank said the intervention had helped to provide financial assistance for the establishment of large, medium and small projects as well as expansion, diversification and modernisation of existing enterprises; and rehabilitation of ailing industries.

Some of the sectors where interventions have been made are manufacturing, power, aviation, cotton, textile and garment, agriculture, automotive industry and cement.