• +234 803 920 9880 info@bornoinvestment.com
  • No. 7 Kano-Jos road opposite Civil service commission Maiduguri, Borno State Nigeria.
  • 07:30 am – 06:00 pm Monday to Friday
  • Get A Quote

Finacial Planning

general marketing of Nigeria and its investment opportunities to potential and present investors.

Investments Management

provides a range of support services to assist potential and present investors as they make new or additional investments.

State Investment Coordination

The company provides state-level support to potential and present investors as they make new or additional investments.

Policy Advocacy

We works with non-investor stakeholders to make investing in the state easier.  It supports initiatives to improve the quality of the investment

We will help you to grow your business

Our Objectives are to promote investment in small and medium-scale projects by encouraging and assisting in the establishment or expansion of such projects within the manufacturing and other sectors consistent with the development objective of Borno State

  • Years of experience

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    Projects & Investments

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    Satisfaction

Our Process

01. Investment Policies

Borno Investment Company Limited will consider investing in a project if it satisfies the following condition:

  • The project must be technically feasible, commercially viable, and self-sustaining
  • The project sponsor must be individual or institution of proven integrity.
  • A portion of the Equity capital of the project should be provided by the project sponsor
  • The project must assist the economic development of the country by providing or engaging in one or all of the following:
  • Employment
  • Import Substitution
  • The project must be assured of competent management along with technical expertise if this is required by the nature of the operation.
  • BICL shall have at least a board set and/or participate actively in the management of the project.
  • The project must not conflict with national economic objectives and policies.
  • Development of local enterprises and entrepreneurship
  • BICL invests only in limited liability companies.

02. Terms of investments

Terms Of Investments

In accordance with its investment policies, the company will consider providing finance to a project according to the following terms:

  • Financing is normally made up of an equity or loan investment
  • Equity participation is usually not less than 10% of the share capital of the company.
  • The loan shall be repayable over a maximum period of seven (7) years inclusive of a moratorium period of not exceeding 2 years.
  • Where the company is involved in the identification and selection of a joint venture partner, technical partners, plant and machinery supplier, and the constructor for civil work, a facilitating fee of 1% of the total project cost would be charged
  • The interest rate is flexible and it depends on the source of funds and the Central Bank of Nigerian rediscount rate
  • The loan shall be secured by a first charge over the fixed assets of a project and a second charge on floating assets where necessary. Loans granted by the company must be used for the purpose of acquiring fixed assets only.

03. Cost & Charges

Cost And Charges Of Investment

The company may not charge for preliminary work and advice in respect of general investigations. However, the expenses involved in the detailed project appraisal will be charged to the project where BICL makes an offer of finance which is accepted.

  • This charge will take the form of a negotiation fee which will usually be subject to a maximum of 2% of the investment to be made by BICL
  • A commitment fee of 1% per annum shall be charged on the undrawn loan capital from the date of acceptance of BICL offer of loan investment. This fee partially reimburses BICL for the cost of holding funds in reserve against the specific use of the borrower.
  • All legal costs, stamp duties, registration, and other expenses incurred in respect of the project shall be paid by the project on whose behalf such costs are incurred.

04. Application Procedure

To apply for an investment with BICL, the application procedure is straightforward. An approach can be made to BICL either in writing or in person with the following:

  • A detailed description of your project
  • Your capital requirements
  • The type and amount of finance that will be required
  • Full description of the envisaged management and technical aspect of the project.

BICL will then advise what further information will be required. BICL staff are always prepared to answer enquiries and discuss the proposal from potential investors

Testimonials

Our Commitment

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The Company

Company History

Incorprated in 1981, Borno Investments Company Limited (BICL) is private Limited Liability company wholly owned by the Borno state government. It aims at stimulating the promotion of both public and private investments in order to hasten industrial growth and development of the state.

Business Initiations

The company commenced business in April 1987, with an authorized capital of ₦3.5 million (now increased to ₦2 billion), to promote the financing and implementations of viable small, medium, and large-scale projects in manufacturing, commercial and financial service sectors of the nation’s economic, through equity and loans or loan investments.

Portfolios

With all of the Borno state government portfolio of investments being transferred under BICL, now it has a wide portfolio of investments spread in quoted and unquoted companies within and outside the state.

Get a Call Back

Investors willing to explore business opportunities in Borno state have available to them numerous incentives to assist in their investment decision-making. Our company has a range of direct and indirect investments for large and small proposals.

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