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BOI urged to fund local industries in Aba

By Franklin Alli
The Bank of Industry (BOI) has been enjoined to consider industries in Aba, Abia State for credit facilities in order to fast track the city’s rapid economic and industrial recovery.

The Chairman/CEO, New Era Group, Dr. Simon Chukwuemeka Okolo, made the call on the occasion of  a business luncheon tagged “The Road Map to Aba Economic Recovery,” organised by Aba Chamber of Commerce (ACCIMA) in collaboration with the other professional/Business Associations in the city namely; NASME, MAN, ASAMATA, HPAAI, IPMAN, NMA, NASSI, NTSIN and AGMON.

Okolo, who chaired the forum, decried the high cost of doing business in the city which has resulted to the exit of notable businesses from the city, capital flight and loss of skilled manpower.

He believes that Aba economic recovery is possible if the state government help the business community in the state procure cheap funding from the Bank of Industry  to fast track the city’s rapid economic and industrial recovery.

He lauded the Abia State Governor, Chief Theodore Orji on his efforts to rid the city of nefarious activities of kidnappers and armed robbery, which he said impacted negatively on the business community gangs said economic transformation is rapidly needed in the city for well being of the city, state and residents.

He called for serious efforts on the part of the state government to ensure improved electric power supply to Aba; rehabilitation of roads and ridding Aba of filth and refuse through Public Private Partnership (PPP) arrangement to achieve tangible results.

Dr. Okolo who declared that the provision of adequate infrastructure will help reduce the cost of doing business in Aba, made it clear that the transformation of the Aba economy will impact very positively on the economy of the state.


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