BoI Funds Garment Factory with ₦1.5b

The Bank of Industry (BOI) has financed the purchase of ₦1.5 billion equipment for a garment factory, Messrs Sam and Sarah in Osogbo.

The garment factory due to take off in August is designed to produce 100,000 dresses per day while no fewer than 3,000 fresh employment opportunities are on the way for people.

The company when fully operational will boost the sewing of school uniforms for public primary and secondary schools across the state’s 30 Local Governments.

The state government provided 6,000 square metres of land along with other ancillary incentives made available to the company for the smooth take off in Osogbo which is expected to boost the state’s economy. The state government has 14% equitable holding in the venture.