N75 Billion Loan Facility: BOI Throws Open Window of Opportunity for Jigawa State Business Communities

From: Umar Akilu Majeri, DUTSE

The Bank of Industry (BOI) has announced the availability of a N75 billion loan facility aimed at supporting business groups, business names, and public liability companies in Jigawa State.

According to Alh Manir Muhammed, Managing Director of BOI's Jigawa State branch, the loan facility is part of the federal government's efforts to promote entrepreneurship and economic growth in the state.

Muhammed explained that the loan facility is being provided under the National Social Investment and Social Marketing (NASSI) and Small and Medium Enterprises (SME) fund. He noted that the program is designed to provide financial support to registered companies, public liability companies, and business names that have registered with NASSI and BOI.

The BOI branch manager emphasized that the loan facility is not a grant, but rather a loan that will be awarded to interested groups or individuals who apply. He advised interested parties to register their businesses and apply through the dedicated portal provided by BOI.

Muhammed noted that the loan facility is open to all eligible applicants, with no specific target for the number of beneficiaries. He encouraged as many people as possible, especially indigenes of the state, to apply for the loan.

"The loan facility is designed to support the growth and development of businesses in Jigawa State," Muhammed said. "We encourage all eligible applicants to take advantage of this opportunity to access funding for their businesses."

The BOI branch manager also noted that the bank has put in place a simplified application process to ensure that applicants can easily access the loan facility. He assured that the bank will provide all necessary support to ensure that applicants are able to access the loan facility.

The N75 billion loan facility is a significant boost to the business community in Jigawa State, and is expected to have a positive impact on the state's economy. With the loan facility, businesses in the state will have access to the funding they need to grow and expand their operations.