CHUKWUEBUKA OHIZU
In a mapped out plan to develop Abia through industrialization, the State Government on Wednesday signed a N10 Billion Memorandum of Understanding (MOU) with the Bank of Industry (BOI).
Mr Mike Akpara, Abia State Commissioner for Industry and SMEs, said that what the partnership with BOI seeks to achieve is to assist Abia people run their businesses, maintaining that Abia State stands to drive a lot of benefit from the partnership and MUO.
Meanwhile, Mr Shekarau Umar, the Executive Director, MSMEs, BOI who disclosed the new development while addressing journalists in Umuahia, after signing the MOU, described it as special.
Umar explained that inside the MOU, the Abia State government will provide the sum of N5 Billion counterpart founding while the BOI will match that with another N5 Billion for a start and disbursed to entrepreneurs in the State to boost their businesses.
The Executive Director who said that various sectors of the Abia State economy was covered in the MOU, stressed that one of the best ways to develop a state is through industrialization.
According to Umar, “We also believe that he (The Governor) wants to develop the state and the easiest way you develop any State is by industrializing that state, get people working, get people doing a lot of enterprises and get people employed.
“That way, you can now develop the state. We have seen that that is what he wants to do and we want to support him”, Umar said.
“Every angle of the state will be covered. Every activity within the State from Agriculture to ICT to other areas were covered by the MOU and the funding because what you want to do is to develop every aspect of the state.”
Umar said the bank has been disbursing funds to manufacturers and small scale industrialists in the State, stressing that the current partnership will benefit the state in many ways.
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