csrreporters The Bank of Industry (BOI) has reaffirmed its role as a key driver of Nigeria’s industrialisation agenda, using targeted financing to enable businesses to scale, innovate, and create jobs. One of the strongest illustrations of this impact is the transformation of G.U. Ebeco, a company that has grown from a small retail distributor into a leading furniture manufacturer.
Founded in 2006 as a retail and wholesale furniture outlet in Abuja, G.U. Ebeco shifted its focus to local manufacturing in 2013 in response to the Federal Government’s Import Substitution policy and growing consumer preference for Made in Nigeria products.
To achieve this transition, the company secured its first BOI facility in 2020 to expand its factory in the IDU Industrial Area. The funds enabled the acquisition of modern manufacturing equipment and the launch of an additional facility in the Dei-Dei building hub. With further BOI financing, G.U. Ebeco later installed advanced European machinery to boost production capacity and product quality.
Today, the company employs over 300 people and produces premium furniture that meets both local and international standards demonstrating how access to structured finance, combined with supportive government policies, can strengthen Nigeria’s industrial base.
BOI noted that its continued support for businesses like G.U. Ebeco underlines its mandate to reduce import dependence, expand manufacturing output, and accelerate job creation, especially among young Nigerians. Industry observers say the company’s trajectory proves that financing institutions, when aligned with national industrial policies, can unlock the potential of local enterprises to compete globally and drive sustainable economic growth.