BoI disburses N2.25 billion to Gombe MSMEs

The federal government, through the Bank of Industry (BoI), has disbursed N2.25 billion to support 16,696 micro, small, and medium enterprises (MSMEs) in Gombe. Olasupo Olusi, managing director and chief executive officer of BoI, confirmed this during a town hall meeting held in Gombe on Friday. The meeting aimed to sensitise the Gombe business community about the N200 billion federal government loan scheme for MSMEs and manufacturing enterprises. Mr Olusi said the federal government, through BoI, had disbursed over N107 billion to nearly 900,000 beneficiaries across Nigeria’s six geopolitical zones. “Out of this, over 16,696 beneficiaries, valued at N2.25 billion, are from Gombe State,” he said.
Represented by Mohammed Maina, North-East regional manager of BoI, Mr Olusi described the fund as a landmark initiative of President Bola Tinubu’s administration. He said that the initiative aims to empower MSMEs and revitalise Nigeria’s manufacturing sector as part of a broader economic growth strategy. According to him, the scheme represents a strong investment in Nigeria’s future and a commitment to unlocking the business sector’s potential.
“MSMEs bring life to the local economy. They create jobs, provide livelihoods, and drive innovation across sectors,” Mr Olusi noted.
He added that MSMEs account for 96 per cent of Nigerian businesses, 84 per cent of employment, and nearly half of the country’s gross domestic product (GDP). Mr Olusi said Mr Tinubu envisions an economy where local industries thrive, meet global standards, and every enterprise is empowered to succeed. He said BoI was working to ensure the scheme becomes a catalyst for jobs, innovation, and prosperity, especially among young entrepreneurs. Mr Olusi commended the Gombe State government’s support and urged MSME owners, community leaders, and youth groups to champion the intervention.
Abdulwahab Sabo, senior special assistant to Governor Inuwa Yahaya on MSMEs, praised Mr Tinubu for positively impacting Gombe’s local economy. Mr Sabo stated that MSMEs remain the backbone of the state’s economy by creating jobs and fostering entrepreneurship, especially among women and youths. Abbas Abdul, chairman of the Tea and Bread Association in Gombe, who received N50,000 six months ago, expressed gratitude to Mr Tinubu for the financial support. NAN