Bank of industry gives n5 6bn loan to promasidor #

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The Bank of Industry (BoI) has granted a loan of N5.6 billion to Promasidor Nigeria Limited, a leading food and beverage company in Nigeria.

Promasidor Nigeria Limited is a subsidiary of Promasidor Group, a multinational company with operations in over 30 countries across Africa, Europe, and Asia. The company is known for its popular brands such as Cowbell, Loya Milk, and Miksi.

The loan from the Bank of Industry is aimed at supporting the company's expansion plans, including the establishment of new manufacturing facilities and the introduction of new products to the market.

The BoI loan is part of the bank's efforts to support the growth of the manufacturing sector in Nigeria, which is a key driver of the country's economic development. The bank has a mandate to provide financing to small and medium-sized enterprises (SMEs) and large corporations like Promasidor Nigeria Limited.

It's worth noting that the loan is likely to have a positive impact on the Nigerian economy, as it will create jobs, stimulate economic growth, and increase the country's manufacturing capacity.