BOI Intensifies Drive To Close N13trn MSME Funding Gap

The managing director/chief executive officer of the Bank of Industry (BOI), Dr. Olasupo Olusi, said the bank has intensified its drive to close Nigeria’s estimated N13 trillion MSME funding gap through enhanced capital mobilisation and strategic partnerships.
Olusi said the gap widened after the Central Bank of Nigeria pulled back from development financing, leaving the responsibility for industrial financing largely on the development finance institution.
According to him, to meet the growing demand, the bank’s Corporate Finance Directorate has adopted a multi-channel funding approach anchored on four pillars: Equity and Capital Management, Advisory Services, Structured and Project ...