Oyo State governor, Abiola Ajimobi has lamented the Nigeria’s mono-economy held by oil and gas despite abundance of other natural resources.

Speaking at the commissioning of the West Regional Office and Oyo State office of the Bank Of Industry in Ibadan, the governor warned that no nation could ever prosper without putting the natural resources at her disposal into effective use through secondary production.

Represented by his deputy, Moses Alake, the governor noted that the industrial sector was yet to take full advantage of value addition and inter and intra-sectoral linkages, adding that industrialization was the wheel of progress of any nation.

The governor therefore urged Nigerians to make meaningful contributions towards diversifying the present mono-cultural economy.

The bank’s Managing Director/Chief Executive Officer, Rasheed Olaoluwa disclosed that the bank had in the last 3 months disbursed N18 billion loans to over 80 companies and micro enterprises spread across the South West.

He said N10 billion had been given as loans to companies in Oyo State alone.

While noting the BOI had been promoting industrialization in the state before now, he said micro, small and medium enterprises matching scheme had gulped N10m.

According to him, the bank has recorded a total loan approval of N375m in respect of 68 enterprises.

Of this amount, he said a total of N225m had been disbursed to 35 enterprises, saying that additional disbursement to other 17 other enterprises in the sum of N104m was being processes



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