Bank of Industry unveils palliative food programme

Ia bid to cushion the effect of the challenges being faced by Nigerians, the Federal Ministry of Industry, Trade and Investment has unveiled the Bank of Industry’s ( BOI) palliative food programme.

The Minister, Dr Doris Nkiruka Uzoka- Anite, at the launch of the programme at Boi’s head office in Lagos, said the move was coming on the heels of the administration’s effort to support the vulnerable.

The minister stated that as a responsive government, it had announced several programmes aimed at ameliorating the effect of the fuel subsidy removal on Nigerians.

She pledged government’s support for industries to enhance local production while ensuring food security. She said: “The launch of the BOI Palliative programme is a strong commitment to food security. We are seeking ways to address food insecurity issues currently being faced in the country. The Federal Government is aware of the skyrocketing food prices and is working with relevant stakeholders in the food value chain to address this challenge.”

In his remarks, the Managing Director, BOI, Dr Olasupo Olusi, said the development finance institution was working closely with the Federal Government to ensure the palliative reached the targeted beneficiaries across the 36 states, including the Federal Capital Territory ( FCT), starting in Lagos and Abuja. The Bank will engage its food processing customers for the purchase of food items at affordable prices while also working with all state governors for the sharing/ donation of the purchased food items.

According to him, the food palliative programme is a clear demonstration of the Bank’s commitment to the Renewed Hope Agenda of the current administration. Recall that the bank recently launched the Presidential Conditional Grant Scheme ( PCGS), which provides N50,000 grants to qualifying small businesses across various sectors nationwide.