By Gabriel Enogholase
BENINâ€”Edo State government has been tasked by the Bank of Industry to embark on the development of the stateâ€™s infrastructure to enabling it do business in the state.
Managing Director of the bank, Mrs. Evelyn Oputu, who led her management team on a courtesy visit to Governor Adams Oshiomhole, said with the necessary infrastructure in place, the bank could create wealth for many of its citizens.
She disclosed that the bank had held fruitful discussions with the economic team of the state government, adding that to this effect, the bank has approved N600 million facilities to Edo State.
Oputu said that the sum of N50 billion had also been approved for use in rural communities to fund small scale manufacturers.
According to her, â€œWe have tried to engage Nigerians but we have very serious issues with infrastructures.
â€œMany Nigerians are hard-working and brilliant people who want to do good, but when you are talented and donâ€™t have the outlet for it sometimes it goes wrong.
â€œI believe that given the right opportunity, we will excel as we do every where else we go. We are going to begin with democratization of entrepreneurship.
â€œWe will start at the very grassroots so that it can be sustainable. That is the modem we have been using in the bank to ensure that the rural community is engaged, that rural manufacturing commences, especially for a state that has the natural resources that you have.â€
In his response, Governor Adams Oshiomhole said that focus would be on creation of jobs that are industry-based for the people of the state.
He also insisted that to grow the economy of the nation and create prosperity, emphasis must be on the return to production.
The governor noted that the banking system has not been particularly friendly, because the smaller the business, the more hostile the banking systems, which has led the young and not so young entrepreneurs not to be able to find the credit they needed to set up a business.