Despite laudable efforts of the Bank of Industry (BoI) to develop the
Micro, Small and Medium Enterprises (MSME) sub-sector of the economy, 18
states in the country are yet to partner with the bank. Some of the
affected states include: Lagos, Nasarawa, Imo, oil-rich River and
Bayelsa, among others.
Nigerian Tribune gathered that efforts by
the Development Finance Institution (DFI) to reach out to the affected
states had yielded no positive results as the state governments had
remained adamant
Lamenting on this development, Executive
Director, BoI, Waheed Olagunju, said the stance of the non-partnering
states was unfortunate, regretting that while international development
organisations, Federal Government and global entrepreneurs were
partnering with the bank because of the impact on employment generation
and industrial revolution, some states were still foot-dragging.
Olagunju,
who was speaking at a workshop organised for business editors and
reporters by the bank in Lagos, at the weekend, submitted that if the
state governments were genuinely interested in delivery the dividends of
democracy to the people, they should partner with BOI to accelerate the
development of the MSME sub sector.
“BoI has become innovative
and highly creative. The Federal Government, CBN, UNDP, Dangote and
others are now partnering with us. They have seen the impact we are
making and I really do not know why some states are still unwilling to
join the train,” he said.
In his overview of BoI’s activities and
operations, General Manager, Operations, Joseph Babatunde, said that
the bank was currently managing various funds with a view to rapidly
create a industrial sector.
According to him, some of the
projects included N235 billion Refinancing/Restructuring Fund (RRF) of
commercial banks loans to the manufacturing sector; N300 Billion Power
and Aviation Fund (PAIF); the Federal Government’s N100 billion Cotton
Textile and Garment (CTG) Development Scheme for the revival of the
ailing CTG sector.
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