BOI Promotes Export-Oriented Women Led Businesses with $10m

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

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

Pitan, stated that the bank has collaborated with the Nigerian Content Development & Monitoring Board (NCDMB) to allocate $20 million to women led businesses in the oil and gas sector.

Managing Director and Chief Executive at BOI 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.”

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