BoI Urges Osun SMEs To Apply for loans

The Bank of Industry has appealed to operators of the Small and Medium Enterprises in Ijesaland, Osun State to make use of the funds available in the bank by applying for loans to expand their businesses.
The Head of BoI in Osun State, Mr Emmanuel Ojoowuro, said this in Ilesa at the maiden lecture series in memory of the late Dr Lawrence Omole, the founder of the International Breweries Plc.
He said, “In Osun office of the bank, we have approval for N3bn but we have less than N200m loan applications from Ijesa axis. This is low considering the volume of business on this axis.”
According to him, the Federal Government, in its bid to encourage business owners, decided to set up the bank to give out loan facilities to them, saying many people have grown their businesses with the support of the bank.
Ojoowuro said, “Ijesa is the business hub of Osun State but it is surprising that owners of businesses in the area do not apply for loans. There is little one can do in business without loans.”
The Sector Leader, Human Development Team in Nigerian Office of the World Bank, Prof. Foluso Okunmadewa, who was the lead speaker at the lecture, advocated the creation of a new Ijesa development council, which would facilitate the economic development in the area.
Okunmadewa, who lauded the business acumen of Omole said all Ijesa sons and daughters needed to come together and emulate Omole whose business, IBPlc, remained a big operator in the sector and beyond.
The Deputy Governor of Osun State, Mrs Titi-Laoye Tomori, also lauded Omole and Ijesa people for their resolve to make the area the business hub of the state.
She promised that the state government would not stop supporting businesses by providing infrastructural development and other needed incentives for them to grow.
Source: Punch