With the continuing soaring of the price of cement in Nigeria, there can be no better time to take advantage of the Bank Of Industry (BOI) cement fund than now. In order to either complete or begin your project that has been delayed because of the high price of cement in Nigeria, we implore you to pay attention to the details of this article.
Many Nigerians have heard about the Bank of Industry (BOI) cement fund but they do not know what the scheme is about, as well as how they can benefit from the Federal government supported cement fund.
If you are one of these people, you don’t have to worry because we will show you the easy way by which you can benefit and how the fund will be disbursed via the Cement Technology Institute of Nigeria (CTIN) by the Bank of Industry (BOI).
What you should understand is that the cement fund is the brainchild of CTIN. As a result, it is important to know how the CTIN was birthed.
CTIN was established by the Federal Ministry of Trade and Investment in 2010 while former President Goodluck Jonathan was in power. It was given the mandate to support the domestic cement industry. The institution has the responsibility to gain and develop technology to make cement cheap in Nigeria.
Benefits of the cement fund to Nigerians
- It creates financially independent Nigerians,
- Make cement cheap as there will be many manufacturers,
- There will be increased tax for the government,
- More jobs will be created.
How can I Benefit from BOI Cement Fund Scheme?
It is very simple to benefit from the cement fund. To access this fund, you must be an entrepreneur in the cement value chain for stock in risk assets in the cement industry. With N9.6bn disbursed yearly to the Bank of Industry by the Federal government of Nigeria, there is a lot you can take and work with, to improve cement technology in Nigeria.
What Are the Required Documents to Present?
• Valid means of identification
• CAC Registration Number
• Proof of tax remittance
• Bank statements
How to Apply for BOI Cement Fund in Nigeria
Follow the simple steps below to apply for Bank of Industry cement fund:
- Visit www.boi.ng,
- Click on “Create account” button (If you are a first timer on the portal),
- Fill in the form with required details and submit.
Note that this fund will not be disbursed direct to a personal bank account. Instead, the bank will send the money to the accounts of your suppliers and vendors from whom you get the equipment for which the loan application acquired.