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Ogun Partners BoI on Industrialisation

By on November 25, 2011

The Ogun State Government is partnering the Bank of Industry (BoI) in  the government’s efforts to industrialise the state.

The State Governor, Ibikunle Amosun, who disclosed this in speech at a Town Hall meeting with stakeholders on the state’s 2012 Budget last Tuesday, said   two memoranda of understanding (MoUs) had already been signed in that regard.

According to him, first MoU is  to give micro, small and medium scale industries in the state the needed finance to boost their businesses while  the  second MoU is to accelerate the industrial process in the state through the provision of industrial parks in the three senatorial districts.

Amosun noted that facilities provided in those parks would give relief to industrialists in and outside the state as they would operate within these enclaves at reduced cost. He disclosed that the state government was contributing N500 million to the BoI as its counterpart funding for the commitment.

He said, “let me assure you that the contents of the two memoranda will be implemented because despite the tight financial situation of the state, the  government is contributing a sum of N500million to BoI, being its counterpart fund for this N1billion commitment. But, l must also say, this is a seed we are happy to sow.

It is expected to bring with it a bountiful harvest of industrialization, employment generation, poverty alleviation, rural and urban renewal in our State. This is not without recognition of the expected bountiful harvest from our participation in various international business meetings.”

He said  the state planned to  hire 10,000 workers under its employment generation scheme, adding that  3,665 appointment letters  had already been released.

The governor noted that things had started looking up for the state as its internally generated revenue had started picking up due to its new tax initiative.

He assured that his administration would never initiate a policy or programme that would make life difficult for them.

“What we have done is to re-activate and implement an existing tax law, the Personal Income Tax Act (PITA).  What I believe should be more important is that we put in place a machinery to ensure that taxes collected from us are utilised to provide amenities that make life easy for all of us,” he said.

  • please how do i applied for found to enables me start my own business because right now i do not have any reasonable thing doing to become a  responsible youth in the society.
    please help me out of this misfortune.