BoI Disburses N2.25 Billion to Over 16,000 MSMEs in Gombe, Reinforcing National Economic Growth Drive

As part of its ongoing commitment to grassroots economic empowerment, the Bank of Industry (BoI) has disbursed N2.25 billion to support 16,696 Micro, Small, and Medium Enterprises (MSMEs) in Gombe State. This initiative falls under the Federal Government’s N200 billion loan scheme aimed at bolstering MSMEs and manufacturing businesses nationwide.

The Managing Director and Chief Executive Officer of BoI, Dr. Olasupo Olusi, shared the update during a strategic engagement with members of the Gombe business community. He revealed that close to 900,000 beneficiaries across Nigeria’s six geopolitical zones have accessed over N107 billion through the bank under the scheme.

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Dr. Olusi lauded the administration of President Bola Tinubu for initiating the intervention, describing it as a landmark effort to empower entrepreneurs and accelerate the revitalization of Nigeria’s industrial base. “This fund marks a pivotal investment in the country’s future and a strategic move to harness the full potential of the business sector,” he said.

Highlighting the essential role of MSMEs, Dr. Olusi noted that they represent 96% of Nigerian businesses, generate 84% of employment, and contribute nearly 50% to the national GDP. He emphasized BoI’s goal to make the program a powerful driver of innovation, job creation, and inclusive economic growth, particularly among young and emerging entrepreneurs.

“MSMEs breathe life into local economies. They are vital for job creation, innovation, and sustaining community livelihoods,” he added.

Through its continued support for small businesses, the BoI is reinforcing its mission to drive sustainable development and foster inclusive prosperity across Nigeria.