BOI approves N1.5 billion for 2 indigenous investors in Kebbi

By Should Zubair Tatu, Birnin Kebbi

The Managing Director and Chief Executive Officer of Bank of Industry (BOI) Mr Olukayode Pitan said his Bank has approved N1.5 billion to two indigenous investors in Kebbi State.

Pitan disclosed this yesterday in Birnin Kebbi when his paid a courtesy call to Kebbi state governor, Alhaji Abubakar Bagudu in government house.

” My Bank has approve various projects worth N3.9 billion and N2.8 billion to finance small and medium scale entrepreneurs as well as N1.5 billion to two indigenous investors which were the Zango Kangiwa Farms Limited, rice project and the M-Tech Universal Engineering.

” We are willing to continue to partner with Kebbi State Government by putting more funds in developmental projects in the state ”, he said.

He said the two companies are in the process of meeting conditions but the credits have already been approved for them. The other projects which he mentioned the bank facilitated its establishment was Labana rice project in Kebbi

MD explained that he was in Kebbi State to further explore areas of partnership with the state government to support entrepreneurs and establishment of Industries and companies, saying that the bank relationship with Kebbi has been very cordial even before the Bank open it’s office in the state in October 2027.

Pitan added that the bank had a managed fund with Kebbi which the governor gave a billion naira out of which about 22 thousand people have benefited from the program of the state government.

He assured that the bank would to do more apart from what the state government has done ” we will put some money directly in some of the projects in Kebbi State .

“” We know that most of the products and the industries the state is investing are agro based because it is the area of strength of Kebbi. We will be willing to work with Kebbi , we have done quiet a bit in Kebbi but want to do more,” he said.

Mr.Pitan called on the governor and the private sector to come up with ideas and businesses that can be supported by the bank in Kebbi.

He announced that as part of the Bank’s corporate social responsibility, the Bank of Industry would construct an International Technology Hall in the state.

The Commissioner of Budget and Economic Planning Dr.Abba Sani Kalgo said the state attaches great importance to industrialization. He recalled the recent visit by United Nations Industrial Development Organisation in the state for another partnership on industrialization.

Earlier, the Kebbi State governor, Alhaji Abubakar Atiku Bagudu said his government would vigorously pursue its policy of entrepreneurship and investment drive to fruition, saying that the administration decided to seek the intervention of the Bank of industry through partnership to ease the establishment of industrial in the state.

The governor said ” already some Industries have been established in the state which are agro based such as rice Mills and Tomatoes factory.

The Authority correspondent reports that delegation from Bank of Industry interacted with officials of Kebbi State Government and the organised private sector.

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