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BOI Fosters Export-oriented Women Led Businesses with $10m

In a bid to promote export businesses led by women, the Bank of Industry (BOI) has invested $10 million into a women-focused fund to support Nigerian business led by women. 

The Managing Director and Chief Executive at BOI, Olukayode Pitan disclosed this while speaking at the banks international women’s day (IWD) celebration in Lagos. 

He also added that the bank has collaborated with the Nigerian Content Development & Monitoring Board (NCDMB) to allocated $20 million to women led businesses in the oil and gas sector. 

He said: “BOI has invested $10 million in the Alitheia Fund, also towards supporting Nigerian women-led businesses, some of which will be export-oriented. In addition, the Nigerian Content Intervention (NCI) Fund, a partnership between the BOI and Nigerian Content Development & Monitoring Board (NCDMB), has allocated $20 million as an intervention fund to women businesses in the oil and gas sector.

“For us, this is just the beginning. We will continue to do more to eliminate bias, while actively promoting and supporting women in industry. At the Bank of Industry, we are constantly working to close the gaps created by bias. We are committed to providing equal opportunities to our employees and we strive for increased representation of women in senior positions to ensure that they make the valuable contributions we know them to have. 

“BOI plays an important role in advocating for women-owned businesses by focusing on impact, as we recognise that economic opportunities these businesses present, and their contribution to national development.”

Minister of State for Industry, Trade and Investments, Ambassador Mariam Yelwaji Katagum in her speech noted on the important of empower women cited its importance a quicker inclusive economic growth for Nigeria and the rest of the world. 

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