Bauchi Govt, BOI sign MoU to revive moribund industries in the state

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Rukayat Akanbi, Bauchi

The Bauchi State Governor, Senator Bala Mohammad has said his administration is to sign a Memorandum of Understanding with the Bank of Industry (BOI) to revive moribund industries in the state.

Gov Bala who said this during a courtesy visit to the Managing Director of the Industry in his office in Abuja explained that the visit was to seek for financial support from the industry in order to assist his administration to revive industries in the state.

He noted that already, Ministry of Small and Medium Enterprises has been established to support local enterprises. He attributed the challenges of industries and factories in the state to lack of capital.

Bala assured the Bank of timely release of counterpart funding to enable the state government access financial support for the growth and development of Small and Medium Enterprises in the state.

The Managing Director of the Industry, Mr. Olukayode Pitan while responding said that the Memorandum of Understanding when signed, will not only revive industries, but create new factories that will provide job opportunities.

He expressed gratitude to the governor for the visit and assured him of the support of the bank to his administration for the economic advancement of the state.

The Managing Director said the industry was committed to fulfilling its mission of transforming the country’s industry sector by providing financial and business support services to enterprises.

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