2024 News & Events Press Releases

The Federal Ministry of Industry, Trade and Investment has unveiled the Bank of Industry’s  (BoI’s) palliative food programme in its bid to cushion the effect of challenges currently being faced by Nigerians.

The Honourable Minister, Dr Doris Nkiruka Uzoka-Anite, at the launch of the programme at BoI’s head office in Lagos, said the move is coming on the heels of the present administration’s effort to support the vulnerable.

The Minister stated that as a responsive government, it has announced a number of programmes aimed at ameliorating the effect of the fuel subsidy removal on Nigerians.

She pledged the government’s support for industries to enhance local production while also ensuring food security.

In her words, “The launch of the BOI Palliative programme is a strong commitment to food security. We are seeking ways to address the food insecurity issues currently being faced in the country. The federal government is aware of the skyrocketing food prices and is working with relevant stakeholders in the food value chain to address this challenge.”

Also speaking, the Managing Director, BOI, Dr. Olasupo Olusi, said the development finance institution is working closely with the federal government to ensure that the palliative gets to the targeted beneficiaries across the 36 States including the Federal Capital Territory (FCT) starting in Lagos and Abuja.

The Bank will engage its food processing customers for the purchase of food items at affordable prices while also working with all the State governors for the sharing/donation of the purchased food items.

According to him, the food palliative programme is a clear demonstration of the Bank’s commitment to the Renewed Hope Agenda of the current administration.

It will be recalled that the bank recently launched the Presidential Conditional Grant Scheme (PCGS) which provides N50,000 grants to qualifying small businesses across various sectors nationwide.

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