₦airaland Forum

Yes, it is true that the Bank of Industry (BOI) was established by the Federal Government of Nigeria with the mandate of providing financial assistance (Loan) for the establishment of large, medium and small projects. However, not all business are qualified to seek loan from the bank. They have created a list of businesses/product cluster that can apply for a loan with the Bank, see below if your business(es) is qualified

1. Adire (Tie and Dye)/Aso Oke
2. Animal Feeds
3. Aquaculture
4. Bakery
5. Blocks and Interlocking Stones
6. Bottled Water
7. Ceramics & Tiles
8. Chemicals and Paints
9. Cosmetics/Hair Products
10. Dairy
11. Digital Printing/Multimedia Publishing
12. Doors and Window Frames
13. E-Commerce/Information & Communications Technology (ICT)
14. Fashion/Garmenting
15. Fish Smoking/Drying
16. Food Processing (comprising processing of agricultural products)
17. Foundries/Metal Fabrication/3-D Printing
18. Fruit Juice
19. Furniture/Wood Processing
20. Gemstones
21. Greenhouses
22. Laundry and Dry Cleaning
23. Leather/Footwear
24. Liquefied Petroleum Gas/Compressed Natural Gas
25. Meat Processing
26. Mechatronics
27. Health Care (Medical Diagnostics)
28. Laboratory/Orthodontist/Ophthalmology/Physiotherapy)
29. Movie Production (Nollywood)
30. Plastics
31. Quick Service Restaurants
32. Quarries
33. Recycling
34. Roofing Sheets
35. Soaps and Detergents
36. Solar (off grid)
37. Technical/Vocational Schools (Offering City & Guild Certificate)
38. Theme Parks
39. Water Transportation Riverine
40. Light Manufacturing (Paper, Roofing Sheets, lube blending, Paints etc)
41. Grocery packaging

Source: Nigeria Business Information

What of 6% interest Rate for Nigerian made cars

What are the criterias for application?

Nice post

Ok.

Only if they will give us loan..

i wish

Do they actually give a loan? I wasted my N2500 on ishiba or ishipa.

Dominate Google page one with your business, website
check my profile

BOI actually gives out loan for real but if you want to get there loan must be ready to get it because it requires a long process

Good

Nice post, op

Add betting to that god'sdanmed list. Discreet!

NO road transportation

There are many out there doing this...

You meant those loans with neck breaking conditions.

So how do one apply?

The conditions no be here. Na scam.

Modalities ooooo

Ok.. any particular reason why there is no automobile? Like transport business. Make my guys collect money start Uber or Taxify?
Bank of industry sha... some of us just wanna drive Corolla around Lagos and Abj and earn money. That's all fam.
Guys, is that too much to ask?

Loans with stringent conditions.

Na so e dey tak start after una go talk say dem scam una

w

Groundnut processing company no dey

Newphil:
Yes, it is true that the Bank of Industry (BOI) was established by the Federal Government of Nigeria with the mandate of providing financial assistance (Loan) for the establishment of large, medium and small projects. However, not all business are qualified to seek loan from the bank. They have created a list of businesses/product cluster that can apply for a loan with the Bank, see below if your business(es) is qualified

1. Adire (Tie and Dye)/Aso Oke
2. Animal Feeds
3. Aquaculture
4. Bakery
5. Blocks and Interlocking Stones
6. Bottled Water
7. Ceramics & Tiles
8. Chemicals and Paints
9. Cosmetics/Hair Products
10. Dairy
11. Digital Printing/Multimedia Publishing
12. Doors and Window Frames
13. E-Commerce/Information & Communications Technology (ICT)
14. Fashion/Garmenting
15. Fish Smoking/Drying
16. Food Processing (comprising processing of agricultural products)
17. Foundries/Metal Fabrication/3-D Printing
18. Fruit Juice
19. Furniture/Wood Processing
20. Gemstones
21. Greenhouses
22. Laundry and Dry Cleaning
23. Leather/Footwear
24. Liquefied Petroleum Gas/Compressed Natural Gas
25. Meat Processing
26. Mechatronics
27. Health Care (Medical Diagnostics)
28. Laboratory/Orthodontist/Ophthalmology/Physiotherapy)
29. Movie Production (Nollywood)
30. Plastics
31. Quick Service Restaurants
32. Quarries
33. Recycling
34. Roofing Sheets
35. Soaps and Detergents
36. Solar (off grid)
37. Technical/Vocational Schools (Offering City & Guild Certificate)
38. Theme Parks
39. Water Transportation Riverine
40. Light Manufacturing (Paper, Roofing Sheets, lube blending, Paints etc)
41. Grocery packaging

Source: Nigeria Business Information

No transportation? No real estates? Mtchewww

Anything federal government put hand nor dey get head o.

OmoManU:
BOI actually gives out loan for real but if you want to get there loan must be ready to get it because it requires a long process

Can you offer more information ? A link maybe ?

Starz825:
Groundnut processing company no dey

If you are into the business, you are eligible bro.

Ur CAC certificate must right

Interesting!

Ok

IamaNigerianGuy:
Can you offer more information ? A link maybe ?

https://www.boi.ng/apply/register

There is more detail on the site, but as usual, one would need some long leg and greasing to actually get the loan.

However, lending rate appears to be market+6% (market is 14% according to CBN), so this is a basically 20% loan. NO country developed its industry with 20% loans, so for FG to think this is helping anybody shows the policy makers are out to lunch.

Far better to seriously save salary for 1 or 2 years (while living with parents and no flexing or spending money), than to wait for this nonsense because at the end of the day, profit margin is under 20% so one will end up working so hard just to pay the loan back, without actually gaining anything.

To make it worse, the money is disbursed to the suppliers for your business - not given to you in cash. If you can establish a good relationship with suppliers, they may be willing to extend credit for 30-90 days with much less interest.

Starz825:
Groundnut processing company no dey

check no 16