BoI Disburses N2.5 Billion Credit to Kano MSMEs in 2018

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Enterprise Television- BoI Disburses N2.5 Billion Credit to Kano MSMEs in 2018

The Bank of Industry (BoI) has disbursed credit worth more about N2.5 billion to Micro, Medium and Small Enterprises (MSMEs) in Kano and environs in 2018 to boost industrialisation in the country.

Dahiru Bala, the State Manager, Bank of Industry, Kano, disclosed this to the News Agency of Nigeria (NAN) during the two-day MSME clinic which ended in Kano on Thursday.

According to Bala, who oversees the affairs of BOI in both Kano and Jigawa states, the Bank is very active in the Kano region being a major industrial area of the country.

“In terms of funds appraisal and fund disbursement, project appraisal and project disbursement we are up and doing.

“Just three weeks ago in the last management committee meeting we presented a total of N1.8 billion projects and all of them were approved.

“And so far in terms of disbursement we are already in excess of about N600 million to N700 million.

“Going by the fact that we are just in the second quarter of the year, I think that we have done reasonably well.’’

Bala acknowledged that MSME promotion was being organised by the Office of the Vice President, Yemi Osinbajo, but the BOI had always been a key player wherever the issue of the real sector was involved.

He explained that the sector “is where you talk about industrialisation, funding and reviving industries, and supporting new emerging industries to come into play”, adding: “BOI is a very pivotal player in that area”.

Also, a Kano-based solar power accessories manufacturing firm, Hajaraihsan Nig. Ltd., told NAN that it had collaborated with two U.S.-based companies to transfer solar power technology to Nigeria.

Its Chairman, Aminu Miko, said that the company had a 60 Megawatts capacity production plant in Kano where it was manufacturing LED products with high machine capacity of up to 15,000 pieces per hour.

He said that the company was also working closely with Bayero University Kano (BUK) which directly synchronised with the company’s research and development department for transfer of technology to its undergraduates.

“We also have a training school where people from other states can be trained.

“For example we take five people from Ebonyi , Delta and across the whole Nigeria.

“We keep them there for six months and train them on how to manufacture and assemble solar and LED accessories including solar inverters.

“The products are very affordable because if you compare, the cheapest price you can get solar cell per watt is 34 cents.

“But based on the fact that we are manufacturing it here in Nigeria you can get our solar at less the cost like 25 cents, even 17 cents, depending on the capacity you want to buy.

“So if you can understand that you can buy a solar panel from China at 34 cents, when you look at the logistics before it arrives Nigeria which may raise the cost to about $1 dollar per watt.

“But now you can buy in Nigeria at the cost of only 17 cent or 25 cent, depending on the capacity.’’

Miko stated that the organisation situated in the at the Kano state free trade zone was also into manufacturing of various solar panels like mono, poly, team light and other allied products including lighting, LED bulbs, submersible pumps and irrigation pumps.

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