The Bank of Industry (BoI) has reaffirmed its commitment to supporting local businesses that persist in investing in Nigeria amid global economic challenges. This pledge was highlighted during a recent facility tour of Lagos companies receiving BoI funding.
Dr. Olasupo Olusi, BoI’s Managing Director, praised companies like Jawa Pharmaceutical Nigeria Limited for their resilience and ongoing expansion, despite some pharmaceutical firms withdrawing from the market. Olusi assured these businesses of the bank’s continued support, emphasizing their crucial role in filling gaps in the production of essential drugs.
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Olusi also encouraged Nigerian enterprises to explore regional and global markets, noting that Nigeria has the potential to compete internationally. He underscored BoI’s focus on key areas such as SMEs, digital economy, and infrastructure, and highlighted opportunities presented by the African Continental Free Trade Agreement.
During the tour, Olusi lauded Imose Technologies Limited for its local production of tech products, promising support to further develop the tech value chain. He also visited GAC Motor’s assembly plant, expressing enthusiasm about the automotive sector’s growth potential with BoI’s backing.
Jawa Pharmaceutical’s Dr. Varkey Verghese and GAC Motors’ Mr. Jubril Arogundade both appreciated BoI’s financial support and expressed commitment to expanding their operations in Nigeria.
