![\"Daily](\"http:\/\/allafrica.com\/img\/static\/publishers\/minibanners\/dailytrust180.jpg\" "\\"Visit")
<\/a><\/p>\nSunday Williams & Abdulwasiu Hassan<\/p>\n
22 December 2011<\/p>\n
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President Goodluck Jonathan has directed the Minister of Finance and the Central Bank of Nigeria (CBN) Governor to work with the Minister of Trade and Investment to make sure that the Bank of Industry (BOI) is fully capitalized.<\/p>\n
Speaking in Abuja at commissioning of BOI Headquarters building and the remodeling of the bank corporate office in Lagos, the President said the bank has recapitalize if the hope of Nigeria’s vision 2020 will be realized.<\/p>\n
“I see this opportunity to turn the BOI to domestic and foreign development partners in the private and public sectors who have supported the institution to accomplish this successes especially entrepreneurship and private sector development.<\/p>\n
“In this regard, we shall accelerate the recapitalization of BOI and open up its equity to development focus foreign institutional investors who will maintain the bank developmental mandate which has become imperative since due to other competitive priorities particularly in social services that lacks the capacity to generate incomes, the government alone cannot meet the financial investment require of the bank,” he said.<\/p>\n
The President said that the Federal Government will continue to give the BOI all the support it needs to play a pivotal role in the industrialization of the country.<\/p>\n
“We shall ensure that the bank corporate governance practice, operational policies and procedures are in line with international best practice to enable it attain the top rating needed to mobilized the much needed financial and technical resources that we need to fast tract the transformation of our industrial sector,” the President said.<\/p>\n
He explained that in view of his administration emphasis on agriculture, Nigeria needs a robust BOI to support entrepreneurs in ensuring that agriculture value chain were embark on the process.<\/p>\n
President Jonathan challenged BOI and other Nigerian financial system to lead the financing of the reindustrialization of the country not only for economic development, but in the light of the premium role played by globalization on manufacturing especially the exportable products.<\/p>\n
Speaking, the Managing Director of the BOI,Ms Evelyn Oputu said that the funding for both the Abuja and Lagos project came from the banks internally generated revenue.<\/p>\n
On his part, the Minister of Trade and Investment Olusegun Aganga said that the BOI for the last 10 years has recorded and amiable feat, adding that his ministry has developed an industrial strategy which will propel the country to economic height.<\/p>\n
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