The Federal Government has directed the Bank of Industry (BoI) and the Federal Institute of Industrial Research, Oshodi (FIIRO) to collaborate on measures to facilitate the disbursement of the N220 billion intervention fund to qualified businesses. This is part of measures to support and upscale activities of Micro, Small and Medium Scale Enterprises (MSMEs)
According to the federal government, FIIRO is expected to shortlist qualified small businesses for funding, while the Bank of Industry (BoI) will facilitate the disbursement of the funds from the floated intervention fund.
President Goodluck Jonathan who was represented by Vice President, Namadi Sambo, gave this directive Tuesday at the opening ceremony of FIIRO’s investment and technology week.
He said the move would aid the growth of the science and technology sector by providing the much needed funds.