Olukayode Pitan, MD Bank of Industry
The Networking with the USA, NUSA, forum has honoured Nigerian business leaders who promote U.S. products and services and who have contributed significantly to the achievement of the goals and objectives of the U.S. Commercial Service in Nigeria.
According to the Commercial Counselor, Commercial Service, Brent Omdahl, the programme serves as an interface between the Nigerian business community and the US market, helps increase awareness and access to credit while removing barriers to the purchase of US goods and services.
With 99 per cent of employment coming from SMEs in Nigeria, Dr. Waheed Olagunju, Executive Director, SMEs, Bank of Industry reiterated the bank’s commitment to supporting SMEs in the country through increased lending and access to funds.
“In recent years we’ve increased our lending to SMEs at the Bank of Industry. In 2015 N5.6bn was made available while it increased to N8bn and N26bn in 2016 and 2017 respectively. This means that MSMEs have been able to access funding from the BOI, and this year we have almost N80bn currently available for lending.”
Olagunju however encouraged intending SMEs and entrepreneurs to come up with a potentially bankable proposals which will attract them to the right investors.
“If you have a good business plan money will run after you. For us at BOI, we always look for businesses to fund because we have an obligation to our lenders as well and so every funding that will be mad available is for us access,” he added.
Five categories of awards were presented to business leaders and companies demonstrating special creativity, resourcefulness and hard work in improving trade between the US and Nigeria.
The ceremony, which was open to the Nigerian business community, also featured an interactive session with United States consular officers who explained the visa process and demystified common myths.
The Commercial Service of the United States Diplomatic Mission to Nigeria annual Networking with the USA Appreciation Forum (NUSA) and International Partner Awards had over 400 local business executives in attendance.
