The Bank of Industry, (BOI) has announced that it intends to invest over N1 billion in Niger Delta renewable energy and carbon-free businesses.
In an interview at the BOI’s SMEs Conference held in Port Harcourt, Executive Director of Corporate Services, Usen Okon Effiong, said that the bank wants to fund businesses, particularly in the field of renewable energies, using a loan facility from the French Development Bank.
Effiong disclosed that the region remains strategic in the comity of businesses, hence it is seizing the opportunities in the region to eradicate poverty and hunger.
He said: “The South-South is one of the most important zones in Nigeria. The states in the zone have contributed a lot to the national treasury. And we are here to enlighten the populace of this state on the opportunities inherent in the Bank of Industry. The world is going further into a carbon-free environment, and renewable energy and these are the opportunities that are inherent in the south-south.”
Read also: Masdar targets Nigeria in its 20,000MW renewable energy plan for Africa
Speaking further, he said, “we want to key into it. Recently, the French Development Agency has given us a facility, a window of opportunity of 100 million Euros and we want people from this area, mostly in terms of renewable energy and carbon-free businesses. So we have come to introduce what we have that will benefit the south-south.”
He praised the region’s customers for the timely repayment of their loans, emphasising that the bank’s goal is not just to profit, but also impact job creation and food in line with the sustainable development goals.
This story was adapted from ThisDay.
