The Managing Director, Bank of Industry Limited (BOI), Nigeria, Dr Olasupo Olusi, said on Tuesday that the opening of its 32nd state office in Akwa Ibom State is a testament to the Bank’s commitment to deepening its penetration across the country in a bid to foster economic growth, financial inclusion, and entrepreneurship development nationwide by supporting investment in critical growth sectors.
Olusi expressed this enthusiasm while speaking at the opening of the new office located at the Dakkada Plaza in the commercial centre of Uyo, saying that the move would also give the bank the opportunity to increase its impact across the Akwa Ibom business landscape.
Olusi disclosed that the bank had already been supporting businesses in the state, with loans amounting to over N1.92 billion to micro, small, and medium enterprises (MSMEs) projects located in the state.
The BOI, while further expressing enthusiasm about the Bank’s presence in Akwa Ibom, highlighted the Bank’s alignment with Governor Umo Eno’s economic blueprint goals, saying that the economic blueprint aimed to transform the socio-economic landscape through sustainable growth, job creation, and developmental impact.
He reiterated the Bank’s continued commitment to supporting private investments in key sectors such as agriculture, oil and gas, power and aviation, tourism, and healthcare, catalysing industrialization and economic sustainability.
On further collaboration with the state government to support MSMEs, Dr Olusi said the Bank looked forward to the successful implementation of a dedicated matching fund partnership with the government to support indigenous enterprises and unlock the entrepreneurial capacity of youths in Akwa Ibom State.
“Looking ahead, we look forward to the successful implementation of a dedicated matching fund partnership with the state government to support indigenous enterprises and unlock the entrepreneurial capacity of youth in this great state.
“Furthermore, we appeal to the state government to urgently address some of the challenges relating to the issuance and registration of collateral titles towards improving the ease of doing business for enterprises within the state,” Olusi said.
The state office will offer a range of financial products and services tailored to meet the unique needs of the local community, including funding support for businesses, capacity-building initiatives, and financial literacy programmes aimed at empowering entrepreneurs.