NBTI secures N50m facility for Entrepreneurs

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Desirous of productive jobs for its graduates after acquisition of knowledge, National Board for Technology Incubation (NBTI), on Wednesday said that it has secured N50 million loan for technology-based entrepreneurs.

Mohammed Jibrin, the Director General, NBTI said the loan was secured from the National Economic Reconstruction Fund (NERFUND) for entrepreneurs from the Technology Incubation Centre (TIC), Lagos.

The loan is for entrepreneurs from the centre to boost their businesses so as to engage others in productive activities.

According to Jibrin, NBTI coordinates 27 TICs, with five extensions nationwide and a lot of progress has been recorded at the centres.

“TIC Lagos is one of the success stories of the board, because of the growth and enormous contributions to creating competitive entrepreneurship.

“The Lagos centre has created over 10,000 jobs and has over 3,000 different locally made Nigerian products in the market.

“The total net worth of the Lagos centre is N275 million and one of the post-incubates, Spectra Food Industries, has been invited for listing on the Nigerian Stock Exchange.

“It is the board’s prayer that the infrastructure and funding of the TIP will be enhanced for the achievement of its objective of creating competitive and sustainable businesses,’’ he said.

Jibrin assured that the funding of the TIP would translate to job creation and wealth generation for the socio-economic development of the country.

He said that technology incubation, when operated on best practices, had proven all over the world to be a veritable strategy to growing the productive sector.

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