BOI Manufacturing Loan 2021: Target Market – For manufacturers as well as other Original Equipment Manufacturers (OEM’s) in the Nigerian oil and gas industry who are contributors to the Nigerian Content Development Fund to procure :
To apply go to https://ncifportal.boi.ng/ncif/public/
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Content Intervention Fund
The Nigerian Content Intervention (NCI) Fund is a Nigerian Content Development & Monitoring Board (NCDMB) fund managed by Bank of Industry Limited (BOI). The fund is designed to achieve the following strategic objectives:
- To increase indigenous participation in the oil and gas industry, build local capacity and competencies.
- To promote the growth and development of Nigerian Content in activities connected with sectors of the Nigerian oil and gas Industry.
- To deepen the creation of linkages to other sectors of the national economy and boost industry contributions to the growth of Nigeria’s National Gross Domestic Product.
- To address persistent funding challenges that have hindered the capacity and growth of local service providers in oil and gas.
- To facilitate the growth of community-based companies in the upstream oil and gas sector.
- To spur productivity and job creation in the Oil and Gas Industry.
- To attract investment capital into the sector and boost the contribution of the sector to Nigeria’s economic growth.
The procedure for BOI Manufacturing Loan 2021 are
- Fixed Assets
- Working Capital
- Leasing of Industrial and business equipment
Loan Type – Term Loans, Working Capital Finance (Time Loans) and Leasing
Amount – Up to $10million
Equity Contribution – 10% of total project cost
Interest Rate – 8 %
Moratorium – From 6 Months to a maximum of one (1) year moratorium on principal repayment subject to review of company’s cash flows
Tenor – Maximum of five (5) years but tied to the payment tenor of the contract.
- Bank Guarantees from the Eligible Banks as approved by BOI
- Treasury Bills or Federal Government Bonds
BOI Manufacturing Loan 2021 Loan Application Checklist
- Formal Application Letter on Company Letter Head
- Certificate of Incorporation/Registration
- Memorandum and Articles of Association (MEMART)
- Certified True Copy of Form CAC 2.5 (Allotment of Shares)
- Certified True Copy of Form CAC 2.3 (Particulars of Directors)
- Certified True Copy of Form CAC 2.1 (Appointment of Company Secretary)
- Recent Tax Clearance Certificate of the company
- Recent Tax Clearance Certificates of two (2) Directors of the company
- Means of identification (i.e. photocopy of International Passport or Driver’s License or National Identity Card or Permanent Voter’s Card)
- Feasibility Report/Business plan
- Evidence of required permits by the Oil and Gas Industry regulators such as DPR, NCDMB and Nigerian Petroleum Exchange(NIPEX) (where applicable) to operate in the oil and gas industry.
- Evidence of the requisite approval from regulatory bodies for the manufactured goods
- A valid contract from an International Oil Company (IOC)
- Evidence of performance on similar contracts.
- Transaction documents typical of the project to be financed
- Quotation/Proforma Invoice for the supply of the items of Machinery & Equipment
- Sources and Quotations for Raw Materials expressed in quantity and amount
- Evidence of approved Environmental Impact Assessment (EIA) Report on the manufacturing plant
- Recent three (3) years Audited Account of the Company, Institutional Investors or any other Company owned by the Chief Promoter
- Recent Bank Statements of the Company for the past one (1) year
- Curriculum Vitae (CV) of the Directors and Key Management Staff
- Evidence of collateral (e.g. Letter of intent from Commercial Bank for Bank Guarantee, Treasury Bills, etc). The letter of Intent must be signed by the Chief Risk Officer and/or an Executive Director of the issuing Bank.
- Bank of Industry Questionnaire
Have any questions regarding this loan? Reach us through the comment box or kindly send us a mail via firstname.lastname@example.org
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