Jigawa govt signs ₦6bn partnership with Bank of Industry

The Jigawa State Government on Tuesday signed a ₦6 billion Memorandum of Understanding (MOU) with the Bank of Industry which aims to boost economic growth and development in the state.

At the signing ceremony held at the Government House, Dutse, Governor Umar Namadi, said the partnership would provide medium and small-scale businesses in the state with access to soft loans.

Mr Namadi highlighted the imperative of the partnership saying that it’s aligned with his administration’s determination to address poverty, create jobs, and stimulate economic growth in the state.

“The occasion is a milestone in our journey towards poverty eradication, job creation, and development. Empowering people through their own business of choice is a strategy we have adopted for accelerating growth and development in Jigawa State, and the Bank of Industry is a key partner in achieving this goal.

“With this MOU, we are now committed to joining hands with the BOI to facilitate access to soft loans for our small, medium, and even large-scale businesses in the state. We are very happy today to have a BOI branch in our state, and all relevant state government agencies are fully engaged to enlighten Jigawa citizens and support them in accessing the opportunities provided by the bank”, Mr Namadi stated.

In his remarks, the Executive Director of Small and Medium Enterprise (SMEs) at the Bank of Industry, Shekarau Omar, described the MoU as historic and first of its kind.

Mr Omar said the partnership with the Jigawa government is the biggest ever MOU signed with any state government since the inception of the bank.

“In the last 13 years, we have been advocating for the establishment of the bank in Jigawa State, but there was no positive response. However, within six months of engagement with Governor Umar Namadi, our dream has become a reality.

“Governor Namadi is a man of his word and has shown indefatigable commitment to empowering the people of Jigawa for poverty eradication, job creation, growth, and sustainable development. As we sign this MOU and commission our Dutse branch today, we assure the Jigawa State Government of our commitment to work at any level to achieve the desired goals”, Mr Omar said.

He said the establishment of the BOI branch in Dutse is expected to provide significant support to local businesses, drive economic progress and improve the livelihoods of Jigawa state residents.