The Acting Managing Director, Bank of Industry, Mr. Waheed Olagunju, has said that the bank will increase its loan portfolio to the Micro, Small and Medium Enterprises.
He stated this at the Leadership conference shortly after he received an award as the Leadership Public Service Person of 2016.
The conference has the theme “The rice economy.”
He said that the bank had increased its volume of loans to the MSMEs and young graduates, on flexible repayment terms to support the economic diversification agenda of the Federal Government.
He said, “As a policy, the bank commits 85 per cent of its resources to funding the MSMEs only. Our strong resolve is to rapidly increase the volume of loans to the MSMEs with high viability prospects.
“The bank will increase its loans and continue to be involved in national development.”
Olagunju said the bank would support the diversification efforts of the government in transforming Nigeria’s industrial sector and integrate it into the global economy by providing financial and business support services to existing and new industries.
