Temitope
Temitope Akinola
Micro, Small and Medium Scale Enterprises (MSME) in Gombe state has got a boost as the bank of Industry approves N903.4million for the business sector.
Speaking at the inauguration of BoI's new office in the state, its Managing Director, Mr. Rasheed Olaoluwa said the agro-processing accounted for 80 per cent of the loan portfolio. He was quoted in a statement to have said that the projects being financed through loans from the bank created 1,900 direct and indirect jobs in Gombe State.
The statement said the Governor of Gombe State shortly after assuming office in May 2011 expreseed the desire to partner with BoI as a vehicle for accelerating development in the state. In order to actualise the partenrship, the Governor made pledge to contribute the sum of N500million towrads the establishment of a N1.0 billion Entrpreneurial Development Fund which was to be matched in like sum by BoI.
“The first tranche of the state’s contribution to the matching fund in the sum of N250million was released in August 2011. This amount was equally matched by BoI thereby creating an initial pool of N500million for on-lending to entrepreneurs in the state.”
The BoI boss said by this gesture, Gombe emerged the first in the Northeast to collaborate with the BoI in entrpreneurial development under the states' Matching Fund Scheme.
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The Nation
Speaking at the inauguration of BoI's new office in the state, its Managing Director, Mr. Rasheed Olaoluwa said the agro-processing accounted for 80 per cent of the loan portfolio. He was quoted in a statement to have said that the projects being financed through loans from the bank created 1,900 direct and indirect jobs in Gombe State.
The statement said the Governor of Gombe State shortly after assuming office in May 2011 expreseed the desire to partner with BoI as a vehicle for accelerating development in the state. In order to actualise the partenrship, the Governor made pledge to contribute the sum of N500million towrads the establishment of a N1.0 billion Entrpreneurial Development Fund which was to be matched in like sum by BoI.
“The first tranche of the state’s contribution to the matching fund in the sum of N250million was released in August 2011. This amount was equally matched by BoI thereby creating an initial pool of N500million for on-lending to entrepreneurs in the state.”
The BoI boss said by this gesture, Gombe emerged the first in the Northeast to collaborate with the BoI in entrpreneurial development under the states' Matching Fund Scheme.
Read more on the story
The Nation