Investment Policy
BIC is committed to investment in the designated priority sectors of the national economy and in particular areas where Bauchi State has factor endowments. Principally among other things, BIC has been positioned to promote and support viable ventures in Agriculture, Agro-allied products, Solid Minerals, Tourism, Health, Education, Manufacturing, Securities, Bonds, Property Development, Commodity Trade, Development Finance and General Commerce.
As a matter of policy, BIC Limited restricts its equity shareholding in one single project at a ceiling of 25%. This is to encourage participation by private investors and interested government agencies especially local governments. In order to underline their commitment to a project, technical partners, where applicable, will be required to also participate in the equity. In some special circumstances and with the consent of other shareholders, BIC Limited could exceed its statutory 25% equity participation limit in order to see the project through or to hold the stake in trust for investors coming in later.
The basic considerations of evaluating any project will include its financial viability, employment potential, import substitution prospects, availability of raw materials locally or a sourcing programme, minimal foreign exchange outlay, maximum value added and avenues for development or transfer of technology.
BIC Limited makes investments in both self – initiated projects and those brought by clients by putting in equity or granting loans or both. As a development finance institution, the BIC Limited has access to foreign loan finance for on – lending to deserving projects. Such loans are, however, invariably restricted to machinery procurement only