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The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) has praised the Bank of Industry (BOI) for its continued role in supporting Nigerian enterprises, as the development finance institution recognised outstanding loan beneficiaries at its Hall of Fame Ceremony.
The event, organised by BOI, celebrated businesses that have successfully accessed BOI loans on two separate occasions and fully repaid them, a milestone the bank described as a strong indicator of resilience, responsible credit culture, and sustainable enterprise growth in Nigeria’s private sector.
The ceremony brought together business leaders, development partners, and representatives of major private sector groups, highlighting the growing importance of structured financing in strengthening Nigeria’s productive economy.
BOI recognises businesses with strong repayment records
Among the companies honoured at the ceremony were established and emerging firms that have demonstrated consistent performance after benefitting from BOI intervention funds.
One of the notable award recipients was Tasty Fried Chicken, recognised for its growth trajectory and successful repayment history under BOI financing schemes.
Also recognised was an innovative fish production enterprise founded by two Nigerian graduates who reportedly used their National Youth Service Corps (NYSC) certificates to secure BOI financing and scale their operations. Their inclusion at the event underscored the bank’s role in enabling young entrepreneurs to convert small-scale ideas into viable commercial ventures.
The BOI Hall of Fame initiative is designed not only to reward repayment discipline but also to showcase business models that can inspire confidence among emerging entrepreneurs seeking formal financing.
NACCIMA applauds BOI’s impact on Nigerian enterprises
Speaking on behalf of NACCIMA National President, Engr. Dr. Jani Ibrahim, Mrs. Ngozi Modebelu, Vice-President of the Badagry Chamber of Commerce, commended BOI for what she described as its measurable contribution to enterprise development across Nigeria.
She noted that BOI’s financing programmes have continued to create opportunities for businesses that would otherwise struggle to access affordable capital through conventional lending channels.
According to her, the bank has remained a critical institution in Nigeria’s industrial financing landscape by empowering businesses to expand, create jobs, and strengthen local production capacity.
Modebelu also encouraged NACCIMA members nationwide to take fuller advantage of BOI’s funding windows, stressing that access to affordable and well-structured finance remains one of the strongest catalysts for business expansion in Nigeria.
Recognition for private sector partners
BOI also used the event to acknowledge the role of organised private sector institutions that have worked closely with the bank in promoting enterprise financing.
Special recognition was given to NACCIMA, the Manufacturers Association of Nigeria, and the Lagos Chamber of Commerce and Industry for their continued collaboration in connecting businesses with financing opportunities and supporting industrial growth.
These institutions were invited to deliver goodwill messages during the ceremony, reflecting their importance in bridging the gap between financial institutions and Nigeria’s business community.
Call for broader access to gender-focused financing
While commending BOI’s interventions, Modebelu also used the platform to raise concerns over the age eligibility criteria attached to the bank’s Gender Loan product.
She urged BOI to reconsider the 50-year age limit currently applied under the scheme, arguing that many capable female entrepreneurs above that threshold remain economically active and should not be excluded from access to development finance.
Her remarks highlighted a broader policy conversation around inclusivity in Nigeria’s credit ecosystem, particularly for women-led enterprises that continue to face structural barriers in accessing capital.
Strengthening partnerships for long-term growth
The ceremony also reflected BOI’s broader strategy of deepening collaboration with private sector stakeholders.
NACCIMA acknowledged BOI’s sustained engagement with the organised private sector, including its Abuja stakeholder outreach programme last year, which provided expanded opportunities for dialogue between policymakers, lenders, and business associations.
For many stakeholders at the event, the Hall of Fame ceremony served as more than an awards platform; it reinforced the value of partnerships, responsible borrowing, and long-term institutional support in building resilient Nigerian businesses.
As access to affordable finance remains a major challenge for small and medium-scale enterprises, BOI’s recognition of successful beneficiaries signals growing confidence in structured lending as a tool for economic transformation in Nigeria.
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