BoI: Tinubu commits N700bn to boost industrial growth, job creation — Enoh

The Minister of State for Industry, Trade and Investment, Mr John Owan Enoh, has stated that President Bola Ahmed Tinubu has committed N700 billion to the portfolio of the Bank of Industries, aimed at enhancing the growth of industries and providing job opportunities for Nigerians.

He disclosed this on Monday in Kano during the launch of Prism Foods Limited’s N10 billion onion storage facility, while emphasising that the government cannot single-handedly create Nigeria’s economy.

According to him, “Our ability lies in our capacity to produce as well as process what we produce.”

The Minister noted that, because of Mr President’s commitment to the growth of industries, a total of N200 billion had been allocated in the first few months of this administration to support the development of industries.

He added that, when the budget was submitted to the National Assembly, President Tinubu included another N500 billion in the portfolio of the Bank of Industries to strengthen its capacity.

He further revealed that, in order to boost industries, Mr President had given a mandate to the Ministry of Industry, Trade and Investment to continue approving various incentive measures for industrial players, including import exemption certificates for machinery and other products needed for industrial growth.

While commending the state government for providing land for the establishment of industries in Kano, he also praised Prism Foods Limited for setting up the facility in the state.

Speaking at the occasion, the state Commissioner for Trade and Industries, Alhaji Shehu Sagagi, said, “Let me begin by commending Prism Foods Ltd for this bold and visionary step, with a storage capacity of 10,000 metric tonnes and an investment worth N10 billion.”

Speaking on behalf of the state governor, Alhaji Abba Kabir Yusuf, he added that this facility is more than just infrastructure; it is a beacon of hope for farmers, a catalyst for industrial growth, and a strategic milestone in Nigeria’s march towards agricultural transformation.

“Distinguished Ladies and Gentlemen, this groundbreaking project aligns perfectly with the vision of the Kano State Government, under the leadership of His Excellency, the Executive Governor Eng. Abba Kabir Yusuf, to reposition agriculture as the bedrock of our economy. The benefits are clear and compelling.”

He proposed the establishment of a National Onion Council—a regulatory and promotional body to oversee quality standards, coordinate production clusters, and strengthen Nigeria’s position on the global onion map as one of Africa’s leading producers. “It is time for Nigeria to define and defend its role in the global onion trade,” he said.

Similarly, Alhaji Aliyu Isah Maitasamu, President of the National Onion Producers, Processors, and Marketers Association of Nigeria (NOPPMAN), said, “Today, we witness the launch of the largest onion storage facility in Africa, right here in Kano—the heartbeat of agricultural trade in Northern Nigeria.”

With a storage capacity of 10,000 metric tonnes and a monumental investment of ₦10 billion, Prism Foods Limited is not just launching a facility—they are ushering in a new era for the Nigerian onion industry. “This is more than infrastructure. This is vision. This is leadership. This is the future.”

“For years, Nigerian farmers have battled the crippling effects of post-harvest losses, especially in perishable produce like onions. Every season, millions of naira worth of onions are lost due to inadequate storage, leaving farmers disheartened and the nation short-changed,” he added.

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