The latest report on disbursements by the Bank of Industry shows that the Federal Government has disbursed N1.24tn to 4.21 million enterprises through the bank in six years.
Data in the report indicated that the disbursements, comprising loans and grants, were received by micro, small and medium enterprises as well as large-scale businesses between 2015 and 2021.
In the document, titled, “Institutional Turnaround for the Next Level,” obtained by our correspondent in Abuja on Friday, the Managing Director, BOI, Olukayode Pitan, explained that a total of N315bn was disbursed to over 4.2 million MSMEs.
This, he said, created an estimated 4.896 million direct and indirect jobs across the country during the six years.
For large enterprises, the BOI boss stated that the government through the bank disbursed N927.1bn to 1,074 businesses, creating 9.048 million direct and indirect jobs during the period under review.
He noted that for the Government Enterprise Empowerment Programme and the N-Power Social Investment Programmes, the bank facilitated the disbursement of N68.0bn ($220.6mn) to 2.9 million beneficiaries.
It further said that the aim was to manage the Federal Government’s initiatives to support micro-enterprises, given that they were serviced via technology and telecoms platforms, state offices, and microfinance banks.
