..AS CBN, BOI, BOA Unfold Govt’s Incentives to Ekiti Residents
By Israel Ajenu
The Ekiti State Development and Investment Promotion Agency (EKDIPA) in collaboration with the Office of Community Communications, Governor’s Office, on Wednesday, organized a successful one-day Stakeholders’ Engagement on Business Reforms with the theme: Ease of doing business in Ekiti.
The stakeholders engagement provided a clear-cut insights of Governor Biodun Oyebanji’s unrelenting efforts to make Ekiti State a thriving business corridor in line with his shared prosperity agenda by opening many doors of business opportunities for Ekiti people with a view to ensuring innovation and wealth creation.
Held at the Osuntokun Pavilion, Government House, Ado-Ekiti, the workshop played host to critical stakeholders, including members of the business community, small and medium-scale enterprises (SMEs), investors, and policymakers, to explore strategies for achieving sustainable business growth in challenging economic times.
The event, which began at 10:00 am, featured robust discussions and insightful contributions from participants across various sectors.
Commissioner for Trade, Industry, Investment and Cooperative, Mrs Adeola Omotayo in a moving address delivered in Yoruba lauded Governor Oyebanji for his deep concern to create wealth through ease of doing business in Ekiti State.
She identified lack of start-up capital as the major obstacle to trade and investment in the state noting that Access Bank has entered into agreement with the and will soon kick start the disbursement of loan facilities to interested traders.
The Commissioner also dropped the hint that similar request had been made through Mr Governor to the management of Bank of Industry which having acceded to the request would by next month start giving loans to agric processors, such as gari, rice and oil palm producers.
This in addition, to a fresh loan agreement the government had with a leading micro-finance Bank in the state billed to take care of other categories of small and medium scale investors in the state.
Mrs Omotayo listed other measures being put in place by Governor Oyebanji in his drive to ease of doing business include; Trade Grievance Redress Mechanism, Export Promotion Strategy
Mrs Kolawole Yetunde who represented the Ministry of Justice in her submission, stated that the Ministry has ensured speedy judicial process for any matter involving investors taking into consideration the interest of willing investors who might be discouraged if the judicial system is too slow in a state as a result of which the government has introduced “Small Claims Court” which covers all cases from N500,000 and below and the case would last for a maximum of three months.
Mrs Onifade who represented the apex Bank, the Central Bank of Nigeria disclosed that opportunities are available to access loan from the CBN although the most common one is Agricultural Credit Guarantee Scheme Fund (ACGSF) which can be accessed through individuals’ banks while the CBN acts as the guarantor.
Speaking in similar vein, representative of the Bank of Industry (BOI), Ashaolu Oluwaseyi lamented the poor response of people to the limitless opportunities that are available through his financial institution such as loans and advisory support to sectors such as agriculture, healthcare, and engineering.
Special mention was made of the Federal Government’s ongoing intervention fund, accessible through fgnboimsmeinterventionloan.boi.ng.
Stakeholders were encouraged to take advantage of this opportunity to secure low-interest loans with flexible repayment terms.
On the lighter mood, representative of the Ekiti Internal Revenue Service made his presentation amidst jeers and boos from agitated members of the audience, but he was able to marshall his points emphasizing the importance of regular payment of tax to the smooth running of government business adding that efforts are being put in place to curb cases of multiple tax and harmonize the payment structure while appealing to all stakeholders for their cooperation at all times.
The Stakeholders’ Engagement on Business Reforms reaffirmed EKDIPA’s commitment to driving initiatives that enhance the business climate in Ekiti State. The agency continues to prioritize collaboration with relevant stakeholders to create a thriving economic ecosystem.
Mts Mary Oso Omotoso the DG Bureau of Community Communications who gave the vote of thanked all the participants for their time to honour the mutually beneficial stakeholders engagement organised to expand the frontiers of ease of doing business in Ekiti State while urging every participant to key into all the avenues highlighted by various speakers at the event to better their lots as Governor Biodun Oyebanji is committed to ease of doing business and shared prosperity.
