Industrialisation: Chime Bemoans Lack Of Fund

The collapse of flourishing industries in the South Eastern part of the country over the years has been attributed  to lack of  funds, mismanagement and other ancillary support necessary for their growth and stability, the governor of Enugu State, Barrister Sullivan I. Chime, has said.

The Governor who made this known while speaking at the official opening of the South-East zonal office of the Bank of Industry (BOI) in Enugu, last Monday observed that in Nigeria, as in other nations, businesses need access to funds and other services rendered by each country’s Bank of Industry to boost their overall productive capacities and resultantly create employment opportunities.

He, noted that the presence of the bank in Enugu was a bold step not only to revive dead or ailing industries in the South East but also to promote new businesses and encourage existing ones.

“We are quite optimistic that business concerns in our zone will benefit from these services and that clearly underscores our enthusiasm over today’s event”, explaining  that the state Government on its own part has continued to provide the enabling environment that would attract prospective investors and keep existing ones in the State.

According to him, “I shall remain faithful to our vow to create the platform that will make it possible for businesses to thrive.  In a few days, renowned retailing conglomerate Shoprite, will commence trading operations here in the Coal City as a prelude to the commissioning of the Enugu Shopping Mall, the biggest in the country”.

He added that with industrial estates and parks already designated and an Enugu Free Trade Zone awaiting necessary approvals, the Bank of Industry must gear up for the anticipated upsurge in industrial activities.

The Governor further reasoned that the Akanu Ibiam International Airport and the Enugu Monorail project signalled that “our daybreak has come to herald the economic rejuvenation of not just Enugu State but the South-East zone and the Nigerian nation at large”.

He, therefore,  commended the Managing Director and Chief Executive Officer of the bank, Mrs. Evelyn Oputu,  for her sterling performance in office,  adding that the opening of the zonal office was another landmark achievement for the bank.

In her address, Mrs Oputu disclosed that the bank has since inception disbursed over N150 billion  to industrialists in the country,  adding that about N20 billion of that amount went to industrialists and entrepreneurs in Enugu State.

She stated that the Bank was established as part of the reform agenda of the government to boost the economy, pointing out that it currently operates in all the six geopolitical zones of the country and Lagos.

The Bank’s  Chief Executive explained that the South East Zonal office which was originally located at Aba had to be moved to Enugu when the environment in the former became very uncomfortable for its operations.

She pointed out that the choice of Enugu as the Headquarters of the zone was based on the favourable incentives provided by the state government especially in the areas of security, office accommodation and commitment of the state Governor to boost the economy of the state.

Also in his speech, the Enugu State Commissioner for Commerce and Industry, Dr Jude Akubuilo, described the establishment of the zonal office of the Bank in the state as a remarkable landmark that would help boost her economy.

He noted that the Bank had helped so many industries in the country and beyond and was now poised to help the state government to revive some of the ailing industries and also implement the 4-point agenda of the present administration in the state.