Mayor Umuahia North Seeks Partnership With BOI To Assist MSMEs In The LGA Benefit From FG N200bn Business Grant

The Mayor of Umuahia North LGA High Chief Victor Ikeji today, Thursday 25th April 2024, paid a working visit to the Acting State Manager of the Bank of Industry, BOI, Abia State, Mrs. Rose Akor.

Mayor Ikeji while speaking during the visit, said he was at the Bank of Industry (BOI) to seek a partnership with the bank to ensure that Micro, Small, and Medium-Scale Enterprises (MSMEs) within his council benefit from the two hundred billion naira (#200billion) business Intervention from the federal government as announced by the Federal Ministry of Industry Trade and Investment (FMITI).

Mayor Ikeji said there are several ways the council can partner with the Industrial bank in the state to ensure people optimally apply as well as benefit from the program. 

He expressed readiness to provide an office or a desk officer within the council who will be trained by the (BOI) to assist interested prospective applicants in applying online as well as guide them through the process.

The Mayor also promised to assist the bank in the areas of sensitization and awareness creation to ensure people are aware of the programs and activities of the bank, as well as how to take advantage of them.

He promised to give the industrial bank all the support it requires to ensure entrepreneurs within his council benefit from the programs of the Bank.

Mrs Akor, the Acting Manager of BOI in the state, appreciated the Mayor for the visit. She stated that the visit is indeed timely and will be mutually beneficial.

She said the industrial bank has indeed been having difficulty in getting people to enrol in some of the loans and grants schemes it has previously launched. 

She further stressed that some entrepreneurs believe that the loans and grants rolled out by the bank or federal government are for a predetermined few, and she discourages such a mindset. “The bank works with processes and standards. Once you meet the criteria, you don’t need to know anyone for you to receive the applied funds for your business,” she stated.

Mrs Akor said she would be very happy to collaborate with the Mayor, especially in the area of sensitization to ensure more people take advantage of many of the business support programs the government is rolling out through the bank.

The BOI Abia boss promised to reciprocate the visit of the Mayor, so they can sit and fine-tune areas of possible collaboration between the bank and the council.

She also disclosed that there is a business support program the bank is about to launch, known as the “Rapid Funds.” She disclosed that this business support is strictly for businesses within rural areas.

She stated that the council can play a crucial role in identifying and sensitizing those who are eligible to access the fund.

The Mayor was accompanied on the visit by the Head of Service, ESV. Onugu Okechukwu Mba, the Chief of Staff, Prince Goodluck Ohazuruike, the Head of Personnel, Lady Ndidi Cosmos Ndukwe, the Special Adviser on Revenue and Policy Formulation, Hon. Nelcin Chimex Uluocha, the director of Protocol, Rex Iheanyi Ogbuagu, and his Personal Assistant Esobe Utonwanne.

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