BoI Disburses N2.25bn to 16,696 MSMEs in Gombe Under FG’s N200bn Loan Scheme

The Bank of Industry (BoI) has announced the disbursement of N2.25 billion to 16,696 Micro, Small, and Medium Enterprises (MSMEs) in Gombe State as part of the Federal Government’s N200 billion loan intervention programme aimed at stimulating grassroots entrepreneurship and boosting local manufacturing.

Managing Director and Chief Executive Officer of BoI, Dr. Olasupo Olusi, made the disclosure during a meeting with members of the Gombe business community.

Olusi explained that the disbursement is one component of a broader initiative under the administration of President Bola Ahmed Tinubu, designed to reposition MSMEs as key drivers of national economic growth.

He noted that the BoI, through the scheme, has so far disbursed over N107 billion to nearly 900,000 beneficiaries across Nigeria’s six geopolitical zones.

“Of this amount, more than 16,696 beneficiaries in Gombe State alone have accessed funding totalling N2.25 billion,” he stated.

Describing the loan programme as a “historic intervention,” Olusi emphasized the critical role MSMEs play in Nigeria’s economic landscape, accounting for 96 per cent of businesses, 84 per cent of jobs, and approximately 50 per cent of the GDP.

“MSMEs are the lifeblood of the local economy. They create jobs, provide livelihoods, and drive innovation across sectors,” he said.

According to him, the scheme is not merely a financial initiative, but a strategic investment in Nigeria’s future—particularly for the youth and emerging entrepreneurs.

“Our goal at BoI is to ensure that this programme serves as a catalyst for employment, innovation, and wealth creation across the country,” he added.

The Gombe business community commended the Federal Government and the BoI for extending the intervention to the North-East, describing it as a timely boost for small businesses struggling with access to finance.

The N200 billion loan scheme is part of the Tinubu administration’s broader economic revival plan to stimulate industrialization, enhance job creation, and build a more inclusive and resilient economy.

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