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Unilever Nigeria declares N11.5b interim dividends on robust Q3

strengthManaging Director, Unilever Nigeria Plc, Tobi Adeniyi, said the performance in the first nine months of 2026 reflected the underlying strength and resilience of the group’s business.

According to him, while consumer demand came under increased pressure in the third quarter as household disposable incomes remained constrained, the group stayed focused on delivering value, strengthening availability, executing relevant innovation and maintaining disciplined execution.

‘This focus delivered consistent revenue growth, a 34 per cent increase in gross profit, and 20 per cent growth in net profit. We continue to build a more balanced portfolio through sharper choices, accessible innovation and targeted brand investment that strengthen consumer preference and support sustainable, profitable growth.

‘We remain confident in the long-term potential of Nigeria and are committed to investing responsibly in our brands, operations and people. Our priority is to build on these strong fundamentals, strengthen performance across the portfolio and create enduring value for consumers, customers, shareholders and our wider stakeholder community as we work to Brighten Everyday Life for All Nigerians,’ Adeniyi said.

Mt. Pinatubo lahars remain serious threat decades later

MORE than three decades after its devastating eruption, Mt. Pinatubo remains a serious threat to communities around it, mainly because of lahars, the Philippine Institute of Volcanology and Seismology (Phivolcs) reported.

Information released by Phivolcs revealed that Mt. Pinatubo, once believed to be a dormant volcano until its eruption in June 1991, released large amounts of volcanic materials. The heavy rains that followed the eruption triggered lahars along the rivers draining from the volcano.

Phivolcs said repeated lahar flow events have altered the landscape, changing river channels, burying areas, damaging roads and bridges, and affecting communities.

Phivolcs said that almost all of the debris spit out by the volcano’s crater have been transported downstream over the years; substantial deposits remain on the slopes and in river channels, which pose serious risks in the event of heavy downpour.

‘These materials may still be remobilized during periods of heavy rainfall, making lahars and flooding a continuing hazard in areas downstream of the volcano,’ it said.

In the last quarter of August this year, Phivolcs said heavy and continuous rainfall attributed to the southwest monsoon or habagat triggered lahar flowss and associated flooding along the major river systems draining Pinatubo volcano-the Sto. Tomas Bucao, Pasig-Potrero, Sacobia, and Abacan rivers.

The DOST immediately deployed a quick response team to assess the impacts using robotic process automation (RPA) and aerial surveys, as well as ground validation, documenting 82 impact areas, 30 of which had damaged structures, 16 with new lahar deposits, 10 showing erosion, seven with channel widening, and seven affected by flooding.

During typhoons and heavy rainfall, especially brought about by habagat, Phivolcs issue lahar warnings from time to time to alert communities of the potential danger.

Phivolcs recommended that damaged structures be assessed and referred to the engineers or mandated agencies for further evaluation and measures to mitigate further damage.

Phivolcs also called on local governments to update their disaster risk reduction and management, evacuation, contingency and land-use plans using relevant hazard information and recent observations from affected areas, and to integrate updated hazard information into local planning.

No economic retaliation vs China – Palace

The Philippines is not inclined to resort to economic retaliation against China amid heated exchanges between Philippine officials and the Chinese embassy, Malacañang said on Tuesday, stressing that the government would continue to pursue diplomatic channels.

Palace press officer Claire Castro said the Marcos administration maintains that trade and investment relations with China should be separate from the country’s efforts to defend its maritime rights.

‘That is not how our President thinks. The President does not approach the issue like children who are quarreling. The President and the administration are negotiating and engaging in discussions with the leadership of other countries through diplomatic channels,’ Castro said at a media briefing in Cagayan de Oro City when asked whether the government was considering a retaliatory ban on nickel or other products from Surigao del Sur to China.

Castro maintained that the Philippines and China continue to cooperate in areas related to the economy, trade and investment.

‘The President would not consider that kind of retaliation, as we know that China and the Philippines are helping each other in areas related to the economy, trade and investment,’ she said.

An Oct. 22 report by Chinese media said Beijing was planning to impose sanctions on Filipino lawmakers over their alleged anti-China remarks.

Federation of Filipino-Chinese Chambers of Commerce and Industry Inc. president Victor Lim earlier urged government officials to reconsider plans to impose sanctions on Chinese Ambassador Jing Quan, warning that retaliation from Beijing could further harm the Philippine economy.

Tarriela faces cyberlibel raps

Amid the tensions over China policy and the West Philippine Sea, former national security adviser Clarita Carlos has filed a cyberlibel complaint against Philippine Coast Guard spokesman for the West Philippine Sea Jay Tarriela and Philippine Military Academy Superintendent Lt. Gen. Michael Logico.

The complaint followed a public exchange between Carlos and Tarriela over their positions on China and the West Philippine Sea.

Carlos had criticized Tarriela’s public statements, calling him a ‘troublemaker’ and urging him to stop speaking publicly.

Tarriela responded in a social media post, questioning Carlos’ record as national security adviser and accusing her of failing to do enough to defend Philippine maritime rights during her tenure

Tiger Beer turns its Manchester United partnership into shared experiences through Uncage Parties

The appeal of a good social experience often lies in how easily one moment leads to another. Food sparks a conversation, music draws people together, and games turn friends into rivals for a few minutes.

These moments create opportunities for people to connect and enjoy themselves while expressing different sides of their personalities.

For brands seeking a meaningful place in social culture, understanding this balance matters. An event may attract attention through its association with a popular club or a recognisable name, but sustaining interest depends on what people can actually do once they arrive.

The strongest experiences make consumers an integral part of the moment, shifting the focus beyond products to the experiences they share.

Tiger Beer brings this thinking to life through its Uncage Parties, built around its audience’s interests.

From music and street food to fashion and artistic expression, the brand has consistently brought different parts of social culture together, creating spaces where people can explore and express themselves. Its partnership with Manchester United offers the latest expression of that approach.

Through Uncage Parties across Port Harcourt, Aba, Asaba, and Enugu, Tiger is creating exciting opportunities for consumers to interact, play games, and win prizes. Rather than centring the experience on a single activity, the range of activities gives guests different ways to participate and enjoy the experience.

Participation is central to this approach.

At the Port Harcourt experience on 10 October, games brought out guests’ competitive sides, while music kept the energy high. Raffle draws added to the excitement, with the chance to win prizes, including a 55-inch television, giving attendees an incentive to join in. Together, these activities brought Tiger’s bold, energetic personality to life, giving its ‘Uncage Your Tiger’ positioning a tangible expression.

By giving consumers opportunities to take part in the excitement, Tiger is extending its Manchester United partnership beyond brand visibility and into the social experiences people can enjoy together.

The Uncage Parties connect the club’s association with Tiger to music, games, friendly competition and shared moments, giving consumers a more direct way to experience the brand’s bold, energetic personality.

Ultimately, through its ‘Uncage Your Tiger’ platform, Tiger Beer is showing how partnerships can move beyond recognition to create meaningful consumer connections. As the Uncage Parties continue across Nigeria, the focus remains on bringing people together through experiences that give the partnership relevance beyond the name it carries.

LANY cancels Davao stop of ‘Soft’ tour

Pop band LANY will no longer be heading to Davao as part of the Philippine leg of its ongoing “Soft” world tour.

Concert promoter Live Nation Philippines confirmed that LANY’s planned stop at Davao’s Crocodile Park Concert Grounds was cancelled “due to safety concerns and production issues.”

The duo of Paul Klein and Jake Goss are still set to perform at the Seaside Arena in Cebu on November 6 followed by back-to-back nights at the Philippine Arena then a return to the Cebu venue on November 12.

Live Nation Philippines advised those who purchased tickets to the Davao show to check their email inboxes for more details about the cancellation, as well as the chance to use the credit for use at the first Philippine Arena concert.

7-month unpaid salary hangs over P’Harcourt refinery amidst shutdown

Seven months of unpaid salaries for support staff at the Port Harcourt Refining Company (PHRC) have triggered disagreement among energy stakeholders, with some demanding urgent intervention while others question the justification for maintaining a large workforce at a refinery operating below capacity.

The affected workers recently protested over the salary arrears, appealing to President Bola Tinubu to intervene.

They alleged that support staff were owed seven months’ salaries, security contractors eight months, and cleaners nine months.

Energy expert and lecturer, Dr. Joseph Obele, condemned the situation, describing it as unfair and unacceptable, and called on the management of the Nigerian National Petroleum Company Limited (NNPCL) and the Federal Government to resolve the crisis.

Obele also expressed concern over the reported monthly salary of about N156,000 for support staff, arguing that the amount was inadequate given the cost of living and the demands of working at a strategic national asset.

He questioned why permanent employees were reportedly receiving their salaries while support staff, cleaners and security personnel remained unpaid for months.

‘If there is money to pay one category, there should be a clear explanation why another category remains unpaid,’ he said.

Obele argued that workers should not bear the consequences of the refinery’s operational difficulties, insisting that their welfare should be addressed regardless of the facility’s production status.

He also said workers had alleged that the refinery coordinator promised a new salary structure from October 2026, urging management to implement any approved changes without further delay.

The energy expert further called on management to consider the workers’ request for a N1 million housing or rent relief package per support staff member, subject to applicable welfare policies.

He cited a reported disparity between the approximately N2 million earned by the least-paid NNPCL staff at the facility and the N156,000 received by support workers, saying the gap required urgent examination.

‘You cannot build a successful refinery on unpaid workers. The refinery may be temporarily unproductive, but workers should not be made the casualties of that situation,’ he said.

Obele urged the protesting workers to remain peaceful and called for an urgent meeting involving the refinery coordinator, relevant authorities and labour representatives to settle the arrears and restore confidence.

However, another energy expert, Rasheed Adeleke, said the salary dispute reflected deeper problems in Nigeria’s refinery management, questioning the resources spent on maintaining facilities that had failed to deliver expected output.

He argued that the government needed to account for the substantial expenditure on refinery maintenance and personnel despite limited refining performance.

‘We pay billions to maintain a refinery that does not work, we pay permanent staff to manage failure, and now we are arguing about paying support staff to clean idle machines and guard empty tanks,’ Adeleke said.

He called for an audit of manpower and contract staff at PHRC, insisting that Nigerians deserved to know the value being obtained from the resources committed to maintaining the facility.

Adeleke also questioned the number of workers required to maintain the refinery during periods of limited operations, saying a review could help establish appropriate staffing levels and accountability.

Another analyst, Bola Joseph, opposed the workers’ demand, arguing that maintaining and paying all categories of staff while the refinery was not operating optimally could encourage redundancy.

‘If the refinery is not working, there is no justification to keep paying all categories of workers,’ he said, adding that the government should consider reducing the workforce rather than increasing salaries or approving additional allowances without clear justification.

The dispute highlights the tension between workers’ welfare and concerns about the management of public resources at the refinery.

The affected workers were reportedly still awaiting payment as of the period following their last public protest on October 6, with stakeholders divided over whether the immediate priority should be settling salary arrears, reviewing staffing arrangements or addressing the refinery’s operational challenges.

Recognize RSV early to protect infants from severe respiratory illness, experts urge

Health experts are urging parents and caregivers to recognize the warning signs of respiratory syncytial virus (RSV) in infants and seek medical attention promptly to help prevent severe illness and potentially life-threatening complications.

The call was made during a health discussion organized by Pfizer in partnership with Philippine medical societies at EDSA Shangri-La, under the campaign ‘Ang Bawat Hininga ay Mahalaga.’ The discussion highlighted the health burden of RSV, the importance of early recognition, and measures that can help protect infants against infection.

The roundtable brought together four maternal and child health experts: Philippine Obstetrical and Gynecological Society (POGS) Reproductive Health Committee chairperson and board trustee Dr. Anna Belen I. Alensuela; Philippine Infectious Diseases Society for Obstetrics and Gynecology (PIDSOG) president Dr. Martha Aquino; Philippine Society of Maternal Fetal Medicine (PSMFM) past president Dr. Catherine Joie Carelle Roux Ong; and Pediatric Infectious Disease Society of the Philippines (PIDSP) current adviser and past president Dr. Anna Ong-Lim.

Recognizing the early signs

RSV symptoms may initially resemble those of the common cold, making it difficult for parents to distinguish the infection from other respiratory illnesses.

‘Symptoms of Covid, RSV, and flu may overlap so we cannot for sure which is which,’ Dr. Ong said.

She identified three warning signs that parents should watch for: rapid or difficult breathing, decreased breastfeeding or feeding, and unusual irritability or low energy.

‘If you will look for the symptoms, it’s not specific to RSV, it’s more of a respiratory problem,’ Dr. Ong explained, emphasizing the importance of seeking medical attention when these symptoms appear.

She cautioned parents against waiting several days to see whether their infant’s condition improves, as delays in seeking care could allow the illness to worsen.

‘You have to recognize that there is something wrong, then you have to bring your baby to the hospital,’ she said, stressing that difficulty breathing requires immediate medical attention.

Wheezing and other unusual breathing sounds are additional warning signs that caregivers should not ignore.

Prevention and protection

While there is no specific cure for RSV, supportive care can help manage the illness. Depending on the severity of the infection, treatment may include maintaining adequate hydration and providing supplemental oxygen or other respiratory support.

Preventive measures also remain important. Regular handwashing, covering coughs and sneezes, and limiting an infant’s exposure to people who are sick can help reduce the risk of infection.

Pregnancy is another important consideration in protecting infants against RSV. Experts highlighted the role of maternal immunization in helping protect babies during their first months of life, when they are particularly vulnerable to severe respiratory infections.

Dr. Alensuela encouraged pregnant women to adopt precautions similar to those practiced during the COVID-19 pandemic, including wearing masks when appropriate and taking steps to reduce exposure to respiratory infections.

‘You can never tell who has the virus and there is no such thing as a high period of communicability,’ she said.

The experts also emphasized the importance of discussing RSV vaccination with healthcare providers during pregnancy. Maternal vaccination allows the mother’s immune system to produce antibodies that can cross the placenta and help protect the newborn against severe RSV disease.

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‘There is no vaccine for RSV among children, only adults. So, your child could be infected. How will you protect? Vaccination during pregnancy because that is the only time that we can give immunization for the baby as well,’ Dr. Alensuela explained.

‘When we give you immunization, the body develops an antibody against the virus. Now, the baby will just receive the antibody from the mom,’ she added.

The experts cited 28 to 36 weeks of pregnancy as the recommended window for RSV vaccination. They also advised pregnant women not to delay discussions with their healthcare providers until the end of this period, as preterm delivery could limit the time available for maternal antibodies to develop and be transferred to the baby.

Parents and expectant mothers should consult their healthcare providers about RSV prevention, including the appropriate timing and availability of maternal vaccination based on current local recommendations and individual circumstances.

Although RSV may begin with symptoms resembling those of a common cold, the infection can become serious in infants. Recognizing warning signs, seeking timely medical care, and taking appropriate preventive measures can help reduce the risk of severe illness and protect babies during their most vulnerable months.

FG woos 39m MSMEs operators with free procurement portal

As part of efforts to strengthen micro, small and medium scale enterprises, (MSMEs) the federal government says it has opened a free digital procurement platform aimed at dismantling barriers and providing easy access to the over 39 million MSMEs, to enable them gain from the ongoing reforms in the public procurement practice.

The Bureau of Public Procurement (BPP), announced the initiative on Tuesday with the backing of the Ministry of Trade and Investment, and the World Bank.

BusinessDay gathered that the initiative will equip the MSME operators with knowledge and skills required to participate effectively in public procurement..

John Enoh, Minister of State, Trade and Investment, in his remarks, applauded that BPP for the initiative which he said will end the complicated procedures, inadequate information and demanding documentation continued to exclude many capable entrepreneurs from government contracts.

He noted that the initiative represents a fundamental shift from merely enforcing procurement compliance to creating a system that genuinely accommodates small businesses.

According to him ‘ It is not enough to have an online platform. Small businesses must actually be able to use it and participate meaningfully’.

The training will help to expand technical knowledge, strengthen internal processes and provide capacity to interpret procurement documents, prepare competitive bids and execute contracts by the MSMEs.

The Minister who noted that some businesses are disqualified over missing documentation, while others depend excessively on intermediaries because they lack sufficient understanding of procurement procedures, urged government agencies to simplify procurement processes, strengthen transparency and deliberately support women-owned enterprises and other small businesses to compete on equal terms.

‘We must give every woman-owned business and every small business the opportunity to learn the rules and compete fairly’, he declared.

Earlier, Adebowale Adedokun, Director-General of BPP, said the initiative was developed to address the knowledge and capacity gaps that had historically prevented MSMEs from accessing government contracts.

He noted that small businesses which accounts for approximately 96 per cent of enterprises in Nigeria, and also contributes about 50 per cent of the country’s Gross Domestic Product (GDP), had remained significantly disadvantaged in public procurement.

Adedokun said the training programme was developed to address the knowledge and capacity gaps that had historically prevented MSMEs from accessing government contracts.

He described the initiative as a strategic instrument for delivering public services, stimulating economic activity, creating employment opportunities, encouraging innovations, and promoting sustainable national development in Nigeria.

To him, ‘ the MSMEs account for approximately 96% of businesses and contribute around 50 percent of national GDP’, whose critical role in the economy, had been neglected or underrated.

‘Many small businesses face barriers to participating successfully in public procurement, including limited limited familiarity with procurement processes, insufficient technical knowledge, and difficulties navigating bidding requirements.

‘The digital training portal seeks to address these challenges by providing practical, accessible, and free learning resources tailored to the Nigerian procurement environment, it is aimed to expand opportunities for small businesses through digital learning.

Adedokun explained that the platform would provide practical training on identifying procurement opportunities, preparing competitive bids, understanding contractual obligations and meeting government performance requirements.

The programme, accessible through smartphones, tablets and computers, features interactive modules, quizzes, practical examples and certificates of completion.

He disclosed that the Bureau was also reviewing existing barriers to MSME participation, with particular attention to women-owned businesses, young entrepreneurs and persons with disabilities.

He however warned that completing the training would not confer automatic eligibility for government contracts, stressing that awards would remain subject to established competitive procedures.

‘Let me emphasise, however, that the training programmes do not guarantee the award of government contracts’, he said.

Charles Odii, Director-General of the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), said the initiative would help connect millions of Nigerian businesses to one of the country’s largest and most reliable markets.

Odii disclosed that Nigeria currently had 39,654,385 nano, micro, small and medium enterprises, arguing that improving their access to public contracts would strengthen local production, expand employment and retain more economic value within the country.

He described the initiative as consistent with President Bola Tinubu’s Nigeria First Policy, which prioritises domestic enterprise development and increased participation of Nigerian businesses in economic opportunities.

‘Giving small businesses an opportunity to compete is an opportunity and a sustainable way to support our small businesses’, he said.

Odii also disclosed that the proposed National Policy on MSMEs for 2026-2030, which recognises public procurement as a critical instrument for enterprise growth and local content development, was awaiting Federal Executive Council approval.

Also speaking at the ev by, Matthew Verghis, World Bank Country Director for Nigeria, said expanding MSME participation in government procurement would strengthen competition, improve public spending efficiency and stimulate job creation.

He stressed that procurement reforms must build the capacity of businesses alongside that of government officials, noting that the success of the new platform would ultimately depend on widespread adoption and improved competitiveness among participating enterprises.

‘Your success will ultimately be Nigeria’s’, Verghis told the entrepreneurs.

The Minister of Youth Development, Ayodele Olawande, similarly encouraged young Nigerians to acquire the necessary skills and prepare themselves to take advantage of emerging procurement opportunities.

The training initiative is being implemented under the World Bank-supported Sustainable Procurement, Environmental and Social Standards Enhancement Project, aimed at strengthening procurement capacity and promoting sustainable practices across Nigeria’s public and private sectors.

Hollis-Jefferson drops 39 as Tropang 5G go 2-0 Hotshots

Rondae Hollis-Jefferson carried the TNT Tropang 5G to a 2-0 PBA Governors’ Cup quarterfinal lead over the Magnolia Hotshots, 91-73, Wednesday at the Ynares Center in Antipolo.

In a game where both teams struggled from the field, Hollis-Jefferson finished with 39 points on a respectable 13-of-26 clip from the floor, including a 4-of-5 shooting from deep. He also had 15 rebounds, three blocks, two assists and two steals in the win.

‘One of the things that we talked about before the game was to expect that it was going to be hard. We knew that this was not going to be an easy game. We got out to an early lead and we said they’re going to come back. This team is not going to roll over easily,’ TNT head coach Chot Reyes said.

‘We took the opportunities that were given to us. They were backing off Rondae, they were giving him a lot of space. He just did what great players do, they counter. We take what the defense gives us and I thought that was the key to the third quarter breakaway,’ he added.

The ballgame was close through the early part of the third quarter, with KJ Buffen sparking Magnolia back from a 17-point first-half lead to a 49-51 deficit with 9:30 left.

But Hollis-Jefferson came alive, scoring 11 points, hauling down three rebounds, and having two assists and two blocks in the period alone to push TNT to a comfortable 73-58 lead heading to the fourth.

This set the tone for the final quarter, as their lead ballooned to 24, 84-60, after a Hollis-Jefferson jumper with 8:03 left.

Hollis-Jefferson, for his part, lauded his teammates for his performance, saying it was a collective effort.

‘At the end of the day, that’s what you want to see. The guys make it a little bit easier for me to be in help, to be there, transition, to move, to get a block,’ he said.

‘When we’re doing what we’re supposed to, we’re locked into our game plan, I’m able to be there to help. So it’s a collective effort.’

Brandon Ganuelas-Rosser added 11 points while RR Pogoy had 10 in the TNT win.

Buffen powered Magnolia with 24 points, 13 rebounds and three assists, with Zav Lucero backing him up with 16 markers and nine boards. Jerom Lastimosa chipped in 13 points off the bench.

TNT will try to go for the sweep on Saturday, 5:15 p.m., at the Ninoy Aquino Stadium in Manila.

OI secures pound 2.22bn, N250bn to bridge industrial funding gap

The Bank of Industry (BoI) has acquired more than pound 2.22 billion and N250 billion in new funding through major financing transactions concluded between 2024 and 2026, as the development finance institution intensifies efforts to bridge Nigeria’s industrial financing gap.

Olasupo Olusi, managing director and chief executive officer of BOI, disclosed this at a media roundtable, describing the capital mobilisation drive as a key pillar of the bank’s 2025-2027 corporate strategy.

The transactions include a pound 1.879 billion syndicated facility secured in 2024, pound 210 million raised from international development partners in 2025, and a N250 billion development bond issued in 2026, which was oversubscribed.

The bank also secured pound 85 million from the European Investment Bank (EIB) in 2026 to support agriculture, alongside another pound 50 million facility from the same lender for healthcare manufacturing.

Olusi said the funding reflected growing investor confidence in the bank’s governance, financing pipeline and development impact. ‘Nigerian businesses need long-term, affordable capital, and the commercial banking system cannot provide enough of it. Filling that gap is our job,’ he said.

‘Investors have placed this money with us because they trust our governance, our pipeline and our results.’ He added.

The pound 1.879 billion syndicated facility concluded in 2024 was later recognised as Syndicated Loan Deal of the Year, while the oversubscription of the N250 billion development bond underscored strong investor appetite for the bank’s industrial financing activities.

The EIB facilities are expected to strengthen financing for domestic agricultural production and healthcare manufacturing, supporting efforts to reduce Nigeria’s dependence on imported food and medicines.

Olusi said the capital-raising drive was central to BoI’s ambition to lead sustainable and inclusive industrial development, with particular focus on manufacturing, infrastructure and underserved businesses.

Under its 2025-2027 corporate strategy, the bank aims to double its loan book, disbursements and development impact instruments within three years. It has prioritised 15 sectors grouped under agro-manufacturing, other manufacturing, infrastructure, extractive industries and services.

Olusi noted that 80 per cent of its large-enterprise lending now goes to manufacturing and infrastructure, reflecting their capacity to generate jobs and economic output.

The bank’s financing activities have expanded significantly. In 2025, it disbursed N644.9 billion, a 26 percent increase over the N510.9 billion recorded in 2024.

The funds reached 12,501 businesses and created or supported 1.68 million jobs. Of the 2025 disbursements, N120.9 billion went to women-owned businesses, while micro, small and medium enterprises (MSMEs) received 41 percent of total funding, exceeding the bank’s 35 per cent target.

Beyond funds raised from investors and development partners, BoI is implementing a N200 billion Federal Government intervention package comprising a N50 billion Presidential Conditional Grant Scheme, a N75 billion MSME Intervention Fund and a N75 billion Manufacturing Sector Fund.

According to him, more than 95 per cent of the intervention had been delivered, reaching 957,400 grant beneficiaries, 9,000 MSMEs and 104 large manufacturers.

The bank also disbursed N213 billion to agro-allied businesses and linked 47,508 smallholder farmers to processors.

Through its Rural Area Programme on Investment for Development (RAPID), it disbursed N6.5 billion to 880 rural enterprises across the 36 states and the Federal Capital Territory, supporting more than 8,000 jobs.

Olusi said BoI would deploy the new EIB facilities to agriculture and local healthcare manufacturing, expand financing for information and communications technology businesses through the Investment in Digital and Creative Enterprises programme (iDICE), and work with the Federal Ministry of Industry, Trade and Investment on a National Industrial Finance Compact to mobilise additional long-term capital.

‘Our mission is simple: finance what Nigeria makes, and create jobs for Nigerians,’ he said.