The Role of Bank of Industry (BOI) in the Development of Small and Medium Scale Enterprises (SMEs) in Bauchi Metropolis

Abstract

The aim of this study is to assess the contribution of the Bank of Industry towards SMEs industrial development in Bauchi metropolis.  A number of descriptive and graphical analyses were conducted to assess the correctness of the data file. Accordingly, SPSS version 17.0 descriptive option was used to determine means and standard deviation on all the variables. Primary source of data was utilised. All questionnaires were carefully identified so it was easy to trace and make corrections. The population of the study is 50 Small and Medium Scale Businesses in Bauchi metropolis. Due to data screening only responses of fourty (40) valid Questionnaires out of the fifty (50) SMEs were analysed. Correlation was used for the analysis. Small and Medium Enterprises (SMEs) in Bauchi Metropolis are highly affected by the role the Bank of Industry is playing and the loans collected by the SMEs from the bank are utilized for the purposes they are intended as revealed by the research. The expansion of the power of BOI as the apex institution for the development and promoting of SMEs in Nigeria should be considered with vigor, a well-conceived and coordinated scheme aimed at strengthening and improving the information system and counseling services for wider dissemination and greater effectiveness should also be pursued.

Keywords: Role of Bank of Industry, Development, Small nd Medium Scale Enterprises