Bank of Industry raises N250bn via maiden domestic bond

The Bank of Industry (BoI) has successfully raised N250 billion through its inaugural domestic bond issuance. The oversubscribed offering marks a strategic shift for the institution, allowing it to reduce reliance on foreign-denominated loans and government grants while mitigating exchange rate risks associated with Naira volatility.

Simultaneously, the North-West Development Commission (NWDC) is pursuing several strategic partnerships to drive regional growth. The NWDC has entered discussions with the BoI to provide structured financing for Micro, Small and Medium Enterprises (MSMEs) and industrial sectors across seven North-West states. Additionally, the commission is collaborating with the National Commission for Colleges of Education (NCCE) to enhance teacher training and infrastructure, and has expressed interest in partnering with the Nigerian Navy Logistics College to support human capital development and skills training in the region.