UNIDO To Partner Oyo On Industrial Development | Independent Newspapers Limited
Newsletter subscribe


UNIDO To Partner Oyo On Industrial Development

Posted: May 8, 2015 at 12:45 am   /   by   /   comments (0)

The Oyo State Governor, Abiola Ajimobi, has said that the United Nations Industrial Development Organisation (UNIDO) is collaborating with Oyo State Government to achieve an inclusive and sustainable industrial development.

Ajimobi, who disclosed this in Ibadan at the official commissioning of the Bank of Industry’s West Regional and Oyo State offices, also used the occasion to unveil his administration’s plans to review the industrial policy of the state.

He said the national economy has, for many years, predicated on weak and volatile pillar held by the oil and gas, despite the abundance of other natural resources such as cocoa, cotton, cereals and solid minerals.

He said the industrial sector was yet to take full advantage of value addition, inter and intra-sectoral linkages.

The Managing Director of the Bank of Industry, Mr. Rasheed Olaoluwa, said the bank has provided loans in excess of N10 billion to over 80 companies and micro enterprises in Oyo State as at the end of March, this year, as part of the bank’s efforts to promote industrialisation in the state.

He said the bank has recorded a total loan approval of N375million in respect of 68 enterprises, out of which a total of N225 million was disbursed to 35 enterprises.