The Bank of Industry (BOI) has urged operators of Micro, Small and Medium Enterprises (MSMEs) in Anambra to apply for the N75 billion loan domiciled with the bank to develop their businesses.
Mr Chibuzor Orji, Manager, BOI in the state, made the call on Thursday in Awka during a meeting of stakeholders and inauguration of the state 21 Local Government Areas (LGA) MSME development clusters.
“There is N75 billion loan available by the Federal Government to develop MSMEs in Anambra state.
“The BOI is partnering with the state chapter of the Nigerian Association of Small and Medium Enterprises (NASME)
to ensure that business owners in the state take advantage of the loan to grow their businesses,” he said.
Orji said that members of NASME in the state could access up to N5 million to develop their businesses, depending on business plan and size of business.
He did a presentation on how members of NASME could apply for the loan as well as answered some questions from members on grey areas on the application portal.
Inaugurating the MSMEs development clusters, Mr Chinemerem Oguegbe, the state Chairman, NASME, said that the measure was targeted at building the capacity of business owners across the rural areas.
Oguegbe also said that the measure would help to develop sustainable businesses and contribute to the development of the state and Nigeria at large.
According to him, the local government development clusters will also help in bringing information and opportunities that will aid the growth of MSMEs within rural communities in Anambra state
“Given the critical position of MSMEs in the development of our state, we see this as the time to focus more in building the capacity of business owners across the 21 LGAs of the state.
“We also provide information that will aid them access funding opportunities and learn business principles that will help them scale up their businesses.
“The Poultry farmer in the village should have the capacity to grow a big farm that does not just satisfy his family needs but transform into a business that would serve the community and provide jobs.
“The small retail cosmetics seller should be taught on how to structure his business to be able to access funds for growth.
“This is what we are targeting, to build the capacity of MSMEs in rural areas to build sustainable businesses.
Mr Okorie Kalu Chief Executive Officer (CEO), Uwamaenyi Technical Works Limited, Awka, and a member of NASME, promised that members would provide the necessary requirements to access the loan.
Kalu thanked the federal government for the gesture and also promised to utilise the loan when accessed.
The News Agency of Nigeria (NAN) reports that the federal government had provided the N75 billion loan to all the states, through the BOI to bolster the MSMEs to regenerate Nigeria’s economy.
