Bauchi SMEs access N1bn from Bank of Industry

Bank of Industry (BOI) is granting a soft loan for the sum of N1bn to Small and Medium Scale Enterprises(SMEs) in Bauchi State in order to boost their productivity and open employment opportunities for many unemployed persons in the state.

The disclosure was made by the Bauchi State Commissioner for Commerce and Industries, Alhaji Mohammed Sadiq, at the official opening ceremony of the Bauchi State 1st National Trade and Exhibition Fair with the theme ‘The New National Economic Recovery and Growth Plan and Eventual Diversification of Nigeria’s Economy the Role of Small and Medium Enterprises’ at IBB Square in Bauchi.

Mohammed Sadiq further said that the development followed the recent official visit to the Managing Director of the Industry in Abuja by the State Governor, Sen Bala Mohammed.

He added that in addition, the state government will assist all local traders to access loans and credit facilities from Commercial banks as part of efforts to revive moribund industries and boost the state’s economic growth.

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The Commissioner also said that the Bauchi State Ministry of Commerce and Industry on its part will continue to consolidate on formulating and implementing government’s policies and programs to attract investment and boosting industrialisation.

According to him, this will assist towards repositioning commercialisation for the emergence of an integrated, vibrant, competitive, skilled, professional private sector driven the industry through a strategic alliance, investment promotion and a strong regulatory framework that will generate employment and create wealth.

The Commissioner who believed that the trade and exhibition fair will be profitable to the state and the nation at large, assured of the readiness of the present administration to contribute towards ensuring the regular conduct of the Northeast Domestic Trade Fair.

He said that “I am humbled and overwhelmed by the esteem presence of you all from different walks of life; who have honoured our invitation and contributed immensely to the success of the events of this day. I thank each and every one of you for gracing the official opening of the 1st Bauchi National Trade Fair.”

The Commissioner added that “I must mention my deep sense of appreciation to His Excellency Senator Bala A. Mohammed (Kauran Bauchi), the Executive Governor of Bauchi State for his contributions to ensure the successful hosting of this event. Your Excellency, we will forever remain grateful for the approval and consent to host this very important Trade & Exhibition Fair.”

He added that “the financial resources you committed into the renovation of the famous Ibrahim Badamasi Babangida Square (Trade Fair Complex); is highly acknowledged; and the political will provided to achieve greater success, without which, we wouldn’t have been here to witness this opening ceremony.”

Mohammed Sadiq while expressing gratitude to members of the Bauchi Chamber of Commerce, Industry, Mines and Agriculture and the Consultants, United Global Services Exhibitions and Fair for their support to the event, called on them to maintain the tempo.

He expressed gratitude to the major participants saying, “Let me specifically recognise the presence of the following institutions for participating and displaying their products and services at the 1st Bauchi State National Trade & Exhibition Fair, notably the Nigerian Army, Nigerian Maritime Authority & Safety Agency (NIMASA), Federal Inland Revenue Services (FIRS), Institute of Agricultural Research, ABU Zaria, FARSMAN Ltd, Nigerian Export Promotion Council, Nigerian Building & Road Research Institute (NBRRI), Bauchi Investment Corporation, Alind Wire & Cables Limited, Zaranda Hotel Limited, AYM Shafa Limited, Techno Shalangwa Nigeria Limited, Bauchi State Internal Revenue Service and all the 20 Local Government Areas of the State. We are indeed thankful.”

“I thank you all in a special way for being such a wonderful tower of strength and support. Without your unflinching support and cooperation, we could not have achieved so much,” the Commissioner concluded.