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FEC Approves N200 Billion Loan For Bank Of Industry - Business - Nairaland

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FEC Approves N200 Billion Loan For Bank Of Industry by agwom(m): 5:52am On Nov 21, 2019
The Federal Executive Council (FEC) has approved the issuance of a Sovereign Guarantee of 500 million Euros (N200bn) from the Credit Suisse AG London Branch and a syndicate of international lenders as collateral for 500m Euro facility to the Bank of Industry (BoI). The Minister of State, Budget and National Planning, Clement Agba, who spoke with State House Correspondents yesterday after the FEC meeting presided over by President Muhammadu Buhari at the Presidential Villa, Abuja, said the loan was basically to finance major industrialization projects and micro-small and medium enterprises values chains in Nigeria for up to five years tenure at affordable rates.

Agba, who said the rates are single digit rates, said the guarantor of the loan, to be executed through the Ministry of Finance, Budget and National Planning, shall be the Federal Republic of Nigeria.

He added that the main objective of the loan was to support industry, revitalize agro-industrial processing zones, and facilitate the creation of new jobs. “We do believe that about 1.2 million jobs will be created through this facility; increase the income of farming communities and promote the inclusion of SMEs and small holder producers in the industrial value chain and the deployment of transportation infrastructure that connect farming communities to processors and market. The loan will be swapped to Naira by the CBN to mitigate the foreign exchange risk and the fund will, therefore, be available to Nigerian enterprises at a more affordable rate and in local currency,” he added. Also during yesterday’s meeting, the Minister of Power, Engr.

Sale Mamman, said the FEC approved the memo seeking for the ratification of the president to release two million dollars as part of Nigeria’s contribution to the West African Power Pool.

https://www.dailytrust.com.ng/fec-approves-n200bn-loan-for-bank-of-industry.html

1 Like

Re: FEC Approves N200 Billion Loan For Bank Of Industry by galadima77(m): 6:45am On Nov 21, 2019
Money nobody can access!

8 Likes 2 Shares

Re: FEC Approves N200 Billion Loan For Bank Of Industry by ForeThinker: 7:28am On Nov 21, 2019
Audio loan

15 Likes 1 Share

Re: FEC Approves N200 Billion Loan For Bank Of Industry by money121(m): 7:28am On Nov 21, 2019
All is well

1 Like 1 Share

Re: FEC Approves N200 Billion Loan For Bank Of Industry by handsomeclouds(m): 7:28am On Nov 21, 2019
Just say for their friends and families smiley

7 Likes

Re: FEC Approves N200 Billion Loan For Bank Of Industry by DonFreshmoney(m): 7:28am On Nov 21, 2019
Money that Is for the wealthy..

Poor Nigerians would be left to suffer
Re: FEC Approves N200 Billion Loan For Bank Of Industry by netpro(m): 7:29am On Nov 21, 2019
Every effort to improve the micro and macro economy is well.

God bless Nigeria.

2 Likes 2 Shares

Re: FEC Approves N200 Billion Loan For Bank Of Industry by UrVillagePpl: 7:29am On Nov 21, 2019
We keep withdrawing, never have we deposited... It's well

1 Like

Re: FEC Approves N200 Billion Loan For Bank Of Industry by mcmukoko12(m): 7:29am On Nov 21, 2019
Ojk
Re: FEC Approves N200 Billion Loan For Bank Of Industry by AsomArchitectNG: 7:30am On Nov 21, 2019
It's well...

BTW

1 Like 1 Share

Re: FEC Approves N200 Billion Loan For Bank Of Industry by englishmart(m): 7:30am On Nov 21, 2019
Bank of industry that's not helping industries, is that one a bank of industry?

8 Likes 1 Share

Re: FEC Approves N200 Billion Loan For Bank Of Industry by NaijaHeadlines: 7:30am On Nov 21, 2019
Hmm..
Re: FEC Approves N200 Billion Loan For Bank Of Industry by Temptee101(m): 7:31am On Nov 21, 2019
shocked

Where are all these monies going to?

Nigeria!
Re: FEC Approves N200 Billion Loan For Bank Of Industry by thesicilian: 7:32am On Nov 21, 2019
Na wah
They'll borrow from London, IMF, World Bank, Nigerian Banks, USA, China, yet we don't see what they're doing with the money.
If you give Buhari the chance he can even borrow from microfinance bank!

12 Likes 2 Shares

Re: FEC Approves N200 Billion Loan For Bank Of Industry by Germi9: 7:33am On Nov 21, 2019
This people will just be calling money anyhow as if money is their mate..na wao

1 Like

Re: FEC Approves N200 Billion Loan For Bank Of Industry by ately1(m): 7:33am On Nov 21, 2019
GOOD ONE

2 Likes 2 Shares

Re: FEC Approves N200 Billion Loan For Bank Of Industry by BabaIbo: 7:34am On Nov 21, 2019
Every news na money but that is not the case out there on the street...

Where the money come dey

4 Likes 2 Shares

Re: FEC Approves N200 Billion Loan For Bank Of Industry by EternalBeing: 7:36am On Nov 21, 2019

3 Likes

Re: FEC Approves N200 Billion Loan For Bank Of Industry by Bossontop(m): 7:37am On Nov 21, 2019
undecided
I jus dey wonder how much of dah money go reach bank las las

1 Like

Re: FEC Approves N200 Billion Loan For Bank Of Industry by joytothewise(m): 7:37am On Nov 21, 2019
That is why they want 1 Nigeria

All for the personal gain
Re: FEC Approves N200 Billion Loan For Bank Of Industry by Tiztonio(m): 7:38am On Nov 21, 2019
Do you need a logo?

Contact me through my signature

Re: FEC Approves N200 Billion Loan For Bank Of Industry by Nobody: 7:39am On Nov 21, 2019
PMB is working hard to get Nigeria working but the sons and daughters of perdition are too blind to see it.

I am sure that the "how will it benefit the common man" crew will soon come for my head.

3 Likes 1 Share

Re: FEC Approves N200 Billion Loan For Bank Of Industry by ZombieTERROR: 7:40am On Nov 21, 2019
joytothewise:

That is why they want 1 Nigeria

All for the personal gain

Exactly

2 Likes

Re: FEC Approves N200 Billion Loan For Bank Of Industry by legalwealth(m): 7:44am On Nov 21, 2019
Shuuu
Re: FEC Approves N200 Billion Loan For Bank Of Industry by akin9ja78(m): 7:44am On Nov 21, 2019
Who are those qualified to take this loan?

2 Likes 1 Share

Re: FEC Approves N200 Billion Loan For Bank Of Industry by joytothewise(m): 7:45am On Nov 21, 2019
ZombieTERROR:


Exactly

Government in Nigeria is meant for destruction
Re: FEC Approves N200 Billion Loan For Bank Of Industry by MrSix: 7:46am On Nov 21, 2019
Check my signature biko


I've your laptop and you have my money. Lets do the exchange!
Re: FEC Approves N200 Billion Loan For Bank Of Industry by SalamRushdie: 7:47am On Nov 21, 2019
BOI is a corruption cesspit
Re: FEC Approves N200 Billion Loan For Bank Of Industry by lonelydora: 7:47am On Nov 21, 2019
How can one access this loan?

1 Like 1 Share

Re: FEC Approves N200 Billion Loan For Bank Of Industry by Jabioro: 7:49am On Nov 21, 2019
Not accessible to the common men on the street..the real naughty men get it and do nothing with it and the masses pay back..

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