Akwa Ibom Screens 60 Enterprises For BoI Loans.

The Akwa Ibom Investment Corporation (AKICORP) says it has screened and prequalified 60 small and medium scale enterprises for loans from the Bank of Industry (BOI).
The Executive Chairman of AKICORP, Dr Elijah Akpan, made this known on Tuesday in Uyo, when he spoke with newsmen on the activities of the corporation.

“These enterprises are indigenous companies that will stimulate economic activities in the state to achieve the objectives of government’s industrialisation policy,” Akpan explained.

He said the enterprises prequalified for the loans would draw from the fund in 2016 when the state government contribute its counterpart fund of N2.5 billion.

Akpan said that the loan package expected from the BoI was five billion naira, consisting of N2.5 billion counterpart fund from the Akwa Ibom Government.
The chairman said that the state had already made budgetary provision for the counterpart fund in 2016 budget in order to benefit from the BoI loans.

“The BoI will come to Akwa Ibom, we will make sure that the bank establishes its presence in the state next year,” Akpan said.
Advertisement

He said that since he assumed office in July, the state government had met severally with core investors and stakeholders on how to revamp moribund industries.

Akpan further said that agreements had been reached for the reactivation of Qua Steel Industries, Quality Ceramics, AkwaPalm Industries and Oku Iboko Paper Mills, respectively.
SEE ALSO: Bank of Industry gets CBN operational licence

“We have so much raw materials lying about for the running of these industries.

“We want to reactivate them in the first place and thereafter handover to core investors for effective running,” Akpan said.

He said that AKICORP and the state government had commenced aggressive enlightenment programme starting with the DAKKADA initiative to urge the people to think investment outside civil service job.

NAN reports that the DAKKADA initiative launched by Akwa Ibom government on September 23 is a clarion call on citizens to rise up to greatness.

Akpan said that the administration of Governor Udom Emmanuel was committed to transforming Akwa Ibom people from civil service mentality to operators of viable middle class economy.