SMEs

Achanwamba Farms is an enterprise located in Owerrinta, Abia State and has its primary business as fish farming and fish feed production, sales of catfish and fish feed. They began their banking relationship through the Graduate Entrepreneurship Fund in 2016 and accessed their first loan facility to procure equipment and raw material for a fish farming business. The company has grown to an annual turnover of 24,000kg of fish. In 2021, the company liquidated their first loan facility and already has another loan facility running, which is for the expansion of the fish farm and fish feed production and it is expected to grow its annual turnover to 36,000kg of fish. The company has contributed to its community through the employment of indigenes and also the development of its environment.

This is a paint production company located in Otukpo, Benue State. The business is a beneficiary of the GEF scheme and produces different classes of paints some of which are Emulsion, Satin and Tex coat. The business was previously into small-scale manual production of paints. It traditionally produced a maximum of 100 buckets of 25Litres paint in a month. However, since the intervention of the Bank of industry the business was able to acquire an electronic motor, mixer, reactor and chemicals, the company is now able to produce 140 buckets of 25 litres of paint in a single day. Furthermore, this expansion is accompanied by an increase in staff strength as more manpower became necessary to match the improved capacity of the company.

Located in Benin City, Edo State and incorporated in 2014, this enterprise had a good record of delivering quality dental services and care to consumers but had challenges in meeting increasing customers’ demands. It was unable to perform advanced dental treatment due to inadequate equipment. The enterprise approached BOI for financial support which was disbursed in 2021 toward the procurement of additional equipment. Since then, the business has expanded its customer base by opening a new branch in G.R.A, Benin City with ample space and special units for its VIP customers. The enterprise created more jobs and has been able to obtain accreditation for its dental facility from the National Health Insurance Scheme (NHIS) with over 13 HMOs currently using its clinic as a referral facility for their clients.

The company is an indigenous company located in Rivers State that manufactures and distributes plastics products such as Poly Vinyl Chloride (PVC) pipes. The financial support from the Bank of Industry has enabled the company to expand its product lines to include water storage tanks, suction hoses, pressure pipes, conduit pipes and HDPE (High-Density Polyethylene) pipes. This led to the creation of fifty-five (55) additional jobs consisting of forty (40) direct and fifteen (15) indirect jobs. The company currently executes piping projects for public and private customers, which require the use of a large number of PVC pipes, storage tanks and HDPE cable insulators.

This enterprise is into fish, poultry farming, fish feed formulation and production, procurement and sales of foreign ornamental birds. It also has a hatchery section to hatch eggs from ornamental Birds, Fish, and foreign chickens which are raised and sold to customers across the Country. Fingerlings are grown from juvenile to table size using concrete and collapsible ponds and, are sold within Borno and Yobe State. A loan was disbursed to the enterprise to procure equipment items under the Northeast Rehabilitation Fund. The Bank’s intervention has helped the enterprise reduce its running cost as the latest equipment purchased replaced obsolete machines. The expansion has helped the enterprise increase its staff strength from six (6) to Ten (25) and doubled its revenue due to increased patronage.

It is an indigenous company which was incorporated in June 1993 and has been licensed as a CBT (Computer Based Training) Centre for training and online testing centre by various bodies such as JAMB and other corporate organizations. The company provides a core curriculum designed to train individuals from basic computer skills to professional certification courses. The Bank of Industry supported the company with a term loan to acquire equipment and this assisted the company to upgrade, expanding its facilities, gained increased patronage which in turn, led to job creation. The loan disbursement to Khemsafe Computers has truly demonstrated the need for Development Finance Institutions in Nigeria in helping to unlock the true potential of the ICT sector of the nation.

The enterprise operates in the bakers’ and sweet confectionaries segment of Nigeria’s manufacturing sector. The company which engages over 300 workers daily, is sited within AmuwoOdofin Industrial Layout, Lagos. It operates state-of-the-art industrial facilities in four factories producing Beef Rolls in two sizes (Baba Beef Roll and FreshBake), lollipops and candies (in different variants under the trade name Xtra), as well as Pop sticks for its use and sale to other local manufacturers. The current BOI facility has significantly improved the efficiency of the plant facility, increased the total production capacity of the company for pop and candy, and introduced a brand new PopStick line as a substitution for the importation of pop sticks. This has resulted in over 70% growth in sales revenue.