The Association of Nigerian Small Scale Industrialists (NASSI) has signed a Memorandum of Understanding (MoU) with the Bank of Industry (BOI) for its members to access a N200 billion credit facility.

The national president of NASSI, Dr Solomon Daniel Vongfa, signed the MoU on behalf of NASSI, while the managing director of BOI, Dr Olasupo Olusi, signed for the bank, signalling the plan to commence the disbursement.

National Treasurer of NASSI, Dr Abubakar Tanko Bala, while shedding more light on the agreement, said the target is to provide loans for its members to assist in upgrading their various businesses.

He said the scheme had been classified into three categories, one in which large scale industrialists will receive N75 billion, middle-scale industrialists N75 billion, and small scale (Nano Program ) will get N50 billion as a loan.

Dr. Bala expressed delight that BOI has confirmed that NASSI shall be solely responsible for providing the names of beneficiaries of the said loan to its members nationwide.

He further said that benefitting members would be further enlightened about enhancing their business skills. He said it is part of the commitment of this administration's agenda to improve the economic hardship presently being encountered.

NASSI, therefore, he said, is urging its members to avail themselves of this opportunity and advised successful loan beneficiaries to make proper use of the loan.