Bayelsa, BOI partner for industrial, economic development

Bayelsa State Government and the Bank of Industry have announced their partnership to drive sustainable industrial and economic development in the state.

Governor Douye Diri gave the assurance on Tuesday when he received a four-man team from the South-South and South-East divisions of the Bank of Industry in Government House, Yenagoa.

Diri who was represented by his deputy, Lawrence Ewhrudjakpo, said his administration would do everything within its power for the immediate and smooth take-off of the bank’s operations in the state.

He disclosed the state government had already provided a temporary operational office for the bank to immediately commence its operations in the state.

The governor said Bayelsa was in a hurry to catch up with other states in terms of industrial development and maintained that his administration would harness opportunities created by the bank to promote the growth of local industries in the state.

He called on the bank to disclose the list of Bayelsans who had already applied for loans and other facilities but could not meet the bank’s requirements for the state government consideration and necessary action.

His words: “Clearly, before now Bayelsa had not taken advantage of the opportunities created for us as a state by the Bank of Industry. However, this time we are ready to seize the opportunity you are going to create to drive the growth of our local industries.

“We want to establish a relationship with the BOI that would be fruitful and run very fast. We, as a government, have an emergency in our hands; while you have urgency in your hands.

“The state government had already provided three places for you to choose one and start to use it as a take-off operational office for the BOI in Bayelsa. The Deputy Chief of Staff to the Governor will take you there immediately after this meeting.

“We are ready for your operations even this month because the role of your bank is even more important than that of the mainstream commercial banks to the growth of local industries.”

Earlier in his presentation, the Divisional Head of the Bank of Industry, South-South and South-East, Kings Jack, pointed out that Bayelsa was the only state in the entire South-South in which the BOI was not fully operational.

Jack said the BOI team was in Bayelsa to seek collaboration with the state government on how to commence the bank’s services to stimulate industrial development of the oil-rich state.

He further disclosed that many corporate organisations and individuals from Bayelsa could not access the over one billion Nair BOI loan facility on account of the inability to procure certificates of occupancy and other requirements.

Jack expressed the readiness of the bank to advise the government on the right policies to stimulate the industrial and economic development of the state.

The visiting BOI team also had its Group Head, Strategic Communications, Seun Olagunju; the Regional Manager, South-South, Irabor Pacqueens, and the State Manager, Ojiegbe Uchechukeu.