Olasupo Olusi, the Managing Director of the Bank of Industry (BoI), has taken a major step to strengthen Nigeria’s business landscape. Partnering with the Lagos State Government and Sterling Bank, BoI launched a N10 billion funding initiative aimed at empowering small and medium-scale businesses. This plan is expected to create 10,000 new jobs and boost local economic growth.
Olusi made the announcement at the Ehingbeti Lagos Economic Summit, where he explained the goals of the initiative. He said the project would focus on providing low-interest loans to micro, small, and medium enterprises (MSMEs) across Lagos. These businesses, he noted, form the backbone of Nigeria’s economy and require finance and infrastructure support.
The Olasupo Olusi job creation initiative forms part of a wider plan to drive sustainable development and reduce unemployment. He stated that economic growth depends heavily on inclusive financing and support for entrepreneurship. BoI is fully committed to backing projects that generate impact and lift people out of poverty.
The scheme will operate under the Lagos State Employment Trust Fund (LSETF) and will target sectors such as agriculture, manufacturing, technology, and trade. Olusi noted that these sectors hold huge potential for job creation, and strategic investment can unlock this potential. He praised the Lagos State Government for leading efforts to create an enabling business environment.
The partnership will also deliver capacity-building programs for business owners. According to Olusi, training holds equal importance to finance, and entrepreneurs must have the right tools to succeed. BoI and Sterling Bank will provide mentorship and guidance, helping recipients manage their businesses wisely and sustainably.
Olusi explained that one of the initiative’s key aims is to reduce bottlenecks that small businesses often face when seeking capital. By streamlining the process and offering loans with friendly terms, more businesses can thrive. He also assured the public that the program will include ongoing monitoring and evaluation to ensure transparency.
The Olasupo Olusi job creation initiative highlights his strong focus on impactful and inclusive banking. He said BoI cares not just about numbers but about improving lives and transforming communities. The goal, he stressed, is to help businesses grow and support long-term economic change across Nigeria.
He added that tackling unemployment requires collaboration between government, financial institutions, and the private sector. Olusi believes that if more stakeholders take bold steps, Nigeria can create a more resilient and inclusive economy. Under his leadership, BoI is taking action and setting an example.
Local stakeholders have praised this initiative, and many believe it will open new doors for thousands of entrepreneurs. Olusi’s leadership continues to inspire confidence in Nigeria’s development goals. He demonstrates that banking can serve people and build the future when guided by purpose and strategy.
With projects like this, Olasupo Olusi is shaping a new path for economic empowerment. His work reflects a deep commitment to social impact and economic progress, placing him at the forefront of transformative change in Nigeria.
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