BOI commits to increased involvement in Niger Delta economic development

BOI commits to increased involvement in Niger Delta economic development

The Bank of Industry has restated its commitment to drive economic development in Nigeria. This statement was made by the MD/CEO, Ms. Evelyn Oputu while receiving leaders of the Bonny Kingdom area of Rivers State at the bank’s headquarters recently.

The visit is part of the activities in the build-up to a partnership between the Bank of Industry, the United Nations International Development Organisation and the Joint Industry Companies (a joint team of the major companies in the island – Nigeria Liquefied Natural Gas (NLNG) Limited, Mobil Oil and the Shell Petroleum Development Company) to assess the Kingdom’s development potentials and the opportunities it presents to generate jobs and create wealth.
Speaking, the leader of the Bonny Kingdom delegation, Manilla-Pepple said the community was looking for sources of funding to develop its people and translate to economic growth and development potentials for the country.
“We have also visited UNIDO to seek areas of partnership. We believe in development that is sustainable because that is the only way to move Nigeria forward. We have come here to further see ways of collaborations to move our kingdom forward,” he said.

Welcoming the leaders, Ms. Oputu declared the bank’s readiness to partner with all relevant stakeholders in the project, including the UNIDO, the JIC and all the communities in the Kingdom to drive economic development that is sustainable. She said the first step was to build the capacity of the people through trainings and other forms of human capital development, while stating the different models developed by BoI to boost agribusiness especially among MSMEs.

She added that the areas that will be targeted, including the aforementioned agribusiness, are those in which the Island enjoys both competitive and comparative advantage. She said the projects will also look to engage youths and women, and will also promote ‘green’ business in the area.

She drew their attention to the collaboration that the Bank of Industry had built with different states, ministries and agencies in the country through matched, managed funds to drive industrial and economic development, and added that now, the bank is targeting high net worth individuals like Dangote to contribute to accelerate the economic revolution currently going on in the country.


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