Nigeria’s Bank of Industry (BOI) in Nigeria has said it plans to create at least 100,000 jobs this year.  This was stated by Bank Managing Director Evelyn Oputu in Abuja on Friday during a briefing to Vice President Namadi Sambo.
She indicated that out of loan applications totaling ₦44 billion from small and medium sized industrial companies, ₦30 billion worth of loans had already been approved.

Oputu added that the demise of many small businesses was caused by inadequate infrastructure, excessive charges by the Corporate Affairs Commission as well as high bank interest rates.
In addition, she shed light on BOI’s effort to revamp United Nigeria Textile Limited, Kaduna, noting that the company would be up and running within two months.

“The whole process will start with the resuscitation of already broken down equipment, alongside the recruitment and training of personnel to provide the manpower,” she told Sambo.
In his response, Vice President Sambo assured Oputu that the Government would support the bank in its efforts to resuscitate ailing industries.

He proposed that information about programs for Small and Medium scale Entrepreneurs (SME) be disseminated to State Governors to enable them to take advantage of the scheme through their state investment companies.
Bank of Industry Limited (BOI) was established in October, 2001 following the reconstruction of the Nigerian Industrial Development Bank Limited (NIDB).  They assist Small, Medium and Large enterprises, excluding cottage industries; and new or existing companies seeking expansion, modernization or diversification.