Artisans key to inclusive economic growth, says BOI
By Lucy Ogalue
The Bank of Industry (BOI) has described Nigerian artisans and technicians as the backbone of inclusive economic growth and key to the country’s future industrial development.
The Managing Director of BOI, Dr Olasupo Olusi, said at the Nigerian Artisans Leadership Summit 2025, on Wednesday in Abuja.
Olusi said that with more than 12 million artisans nationwide, the sector held immense potential for grassroots enterprise and national transformation.
The News Agency of Nigeria (NAN) reports that the summit was themed “Unlocking the Inherent Potential of Nigerian Artisans and Technicians”.
It brought together artisan leaders, development partners, government officials, and other stakeholders to discuss challenges and opportunities within the informal sector.
Olusi was represented by Ms Mabel Ndagi, Executive Director, Public Sector and Intervention Programmes of the bank.
He said that the bank’s vision for inclusive development was centred on enabling artisans to thrive through better access to finance, training and integration into formal economic systems.
“The theme of this summit goes to the heart of inclusive development.
“It reflects a vision of Nigeria where talent is not wasted due to lack of support and where informal skills are not excluded from formal opportunities,”he said.
Olusi identified several key challenges artisans faced, including limited access to affordable finance, outdated equipment, poor business structures, lack of export participation and inadequate research and development.
To address these issues, Olusi said that BOI had structured its 2025 to 2027 corporate strategy around six thematic pillars.
“These include supporting Micro, Small and Medium Enterprises (MSMEs), youth empowerment and skills development and digital economy expansion.
“It also includes advancing climate sustainability, investing in critical infrastructure and promoting gender inclusion.
“These focus areas are not just bureaucratic categories, they are lenses through which we are re-imagining support for artisans and grassroots entrepreneurs,” he explained.
Olusi reaffirmed BOI’s commitment to providing both financial and advisory support to Nigerian enterprises that sustain local economies and spur national growth.
“Our vision as a development finance institution is to transform Nigeria’s industrial landscape by empowering the enterprises that power this nation.
“At the heart of this vision are artisans and grassroots entrepreneurs like you.
“And true national development cannot be outsourced or imported, but must be built by skilled hands and passionate hearts,” he said.
The Artisan Leadership Summit marks another step in BOI’s broader drive to deepen financial inclusion, unlock the potential within the informal sector and promote sustainable livelihoods across the country. (NAN)
Edited by Francis Onyeukwu