The Bank of Industry (BOI) has established 15 technology and innovation hubs across Nigeria since 2018, supporting more than 9,220 aspiring entrepreneurs and facilitating the creation of 950 startups.
BOI Managing Director and Chief Executive Officer, Dr Olasupo Olusi, disclosed this during an interaction with journalists in Lagos, attributing the achievement to the bank’s Innovation Tech Hub Programme, implemented under its Corporate Social Responsibility initiative.
Olusi said the programme was designed to harness technology and innovation to drive economic growth, promote entrepreneurship and address societal challenges.
He explained that the hubs provide aspiring entrepreneurs with infrastructure, mentorship and resources to develop their ideas through initiatives such as hackathons and incubation programmes.
According to him, the initiative has helped build innovation ecosystems that attract investment, create jobs, encourage collaboration and strengthen Nigeria’s technological competitiveness.
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He added that the hubs facilitate knowledge sharing and partnerships through networking events, workshops and other collaborative activities.
Meanwhile, BOI Lead Youth and Skills Thematic Champion, Mrs Aderonke Akinluyi, said the bank was committed to addressing practical challenges that prevent young Nigerians from transforming their skills into sustainable businesses.
She highlighted the importance of reliable electricity for productivity and profitability, particularly among young fashion entrepreneurs, noting that access to clean and dependable energy could reduce operating costs and improve profit margins.
The Secretary of Lagos Island Artisans, Adebayo Kafayat Adebukonla, said a solar power installation had improved operations among fashion entrepreneurs in the community.
Adebukonla explained that frequent power outages had previously disrupted production and delayed customer orders, but the reliable electricity supply had enabled beneficiaries to meet deadlines, improve customer confidence and reduce their carbon footprint.
