HomeFeaturesImo State To Welcome Bank Of Industry Branch — Gov Uzodimma

Imo State To Welcome Bank Of Industry Branch — Gov Uzodimma

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Governor Hope Uzodimma has declared his enthusiasm for a strategic alliance with the Bank of Industry (BOI), designed to establish a strong foothold in Imo State and stimulate sustainable economic growth.

Governor Hope Uzodimma’s commitment to partnering with the Bank of Industry (BOI) was conveyed through a statement issued to journalists in Owerri by his Chief Press Secretary, Oguike Nwachukwu, during a courtesy visit by BOI’s Managing Director/CEO, Dr. Olasupo Olusi.

Governor Hope Uzodimma explained that his desire to partner with the Bank of Industry (BOI) stems from a need to alleviate the struggles of manufacturers who are grappling with exorbitant production costs, which have become a significant burden.

According to the statement, “The Bank of Industry (BOI) has shown interest in partnering with the government of Sen. Hope Uzodimma of Imo State for the purpose of enhancing the economic wellbeing and businesses of the citizens.

The Bank make the commitment on Thursday in Owerri, the Imo State capital, when the Managing Director/ Chief Executive Officer of BOI, Dr. Olasupo Olusi, paid a working visit with his key officials to Governor Uzodimma in Government House.

“While receiving Dr. Olusi and his team, Governor Uzodimma assessed the role Bank of Industry has been playing in recreating the economy of the country, particularly the challenge posed by unemployment and lack of jobs among the teeming young men and women, noting that he could not but accept the olive branch extended to him to partner with the Bank.

“The Governor said the various policies of BOI help to stimulate the economy of the country, create jobs for the people and also serves as an enabling environment to reduce cost of goods. He commended the management of the Bank for the good job they are doing and urged them to ensure that Imo State benefits from the diligence of the Bank’s contribution to national economy.

“Governor Uzodimma said he was not in doubt they are willing partners hence the State will cooperate with them. The State can never say no to the initiative which you have rolled out and which clearly seems to be the solution to the cancer of unemployment in the country, targeted at reducing the crime rate and all manners of criminality in the country. He said the Bank’s visit is going to be a new partnership and that Imo State will not hesitate to accept it, but will only define the basis to which they operate.

“Governor Uzodimma specifically told Dr. Olusi that Imo State wants to benefit from the empowerment programmes given that “the manufacturers are crying over the cost of production which is too high, just as the middle and low income earners are also crying.

“So, anything that will act as incentive to reduce the cost of accessing money will be a very good welcome idea. Furthermore, the Governor emphasised on how the Bank will assist to encourage enhancement of the local economy, promising that his government will be willing to support the private sector business operators by way of guarantees and issuance of indemnities to enable genuine owners and private business owners access funds.

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“What the people need is encouragement, guidance and proper documentation, like the artisans,” he enthused and added that “BOI is like the password to open the business system in the State,” which he said, is filled with huge traffic in human and material things, including boisterous tourism potentials.

“As a demonstration of his commitment to the partnership proposal, the Governor directed the Commissioner for Commerce, Trade and Investment, Dr. Chika Abazu, to liaise with the team to ensure that some of the requests of the Bank that are available and affordable are properly dealt with immediately.

Earlier, Dr Olusi told Governor Uzodimma that he came with his management team to “explore the opportunities in Imo State and help drive the economic growth of the State. He informed that there are mutual areas of collaboration which he thought they needed to come and identify and also discuss opportunities for future engagements with the State.

It was further stated The Bank of Industry (BOI) is eager to forge a robust partnership with Imo State for development purposes. According to the bank, establishing a solid presence in the state is crucial to achieving this goal, which is why they visited to explore and confirm the ideal location for their operations in Owerri, having recognized Governor Uzodimma as a reliable and supportive collaborator.

The Eastern Updates 

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