Seun Adekogbe, state manager of the Bank of Industry (BOI), has identified challenges preventing businesspeople from obtaining bank loans.
He enumerated them to include improper documentation, faulty loan application and request for loans higher than actual business.
Speaking in Ilorin at the 49th annual general meeting of Kwara Chamber of Commerce, Industry, Mines and Agriculture (KWACCIMA), the BOI manager said the bank has turned down such loan requests to prevent people from running into more financial problems.
He, however, advised businessmen to avail themselves of services of business developers and service providers to assist them in documentation and all other aspects of getting loans.
On his part, Ahmed Adeoye Raji, president and chairman of council, KWACCIMA, enjoined members to maintain a positive attitude and remain productive for the development of the state.
He said businesspeople must imbibe the attitude of saving and investing for their overall development and growth of Kwara.
Raji, however, urged the incoming administration in the state to implement State Business Agenda (SBA) of the chamber for future economic prosperity of Kwara.
The KWACCIMA president noted that the agenda would serve as a guiding principle for the incoming governor on what to do to take the state to next level of development.
“There are lots of things we want the incoming administration to do for business community in the state. We are trying to present what we call State Business Agenda (SBA) which will cover areas in agriculture, commerce, industry, both in formal and informal sectors of the state economy.
“We hope to make him know that there are lots of hanging fruits needed to be plucked to make Kwara state the place we want it to be in terms of commerce, industry, agriculture and mining,” he said.
“The KWACCIMA, as a mouth piece of the organised private sector, and a partner in progress with the government, will intensify efforts to facilitate meaningful economic development to the state.
Raji said discussion is ongoing to partner governmental bodies for Art and Culture Fair, adding that such would provide exposure and network for lasting business relationship and patronage.
“In furtherance of supporting agricultural production in the country, we initiated discussion with an agricultural corporation in Axco, Georgia in the USA, with 21 quotations all over the world, for possible establishment of agricultural equipment plant in the state.
“The leadership of the chamber had also succeeded in convincing Harvard Business School Management Board to establish a unit of the school in the state.
“This is planned in collaboration with the University of Ilorin, so that a number of businesspeople can easily access world-class business training that can be adapted into our environment,” he said.
The KWACCIMA president, who commended the outgoing government for allocating 10 hectares of land as permanent trade fair site to the body, said that the government also approved waiver as part of acquisition fee.
“But we will, like Oliver Twist, always ask for more. The chamber will therefore be glad for any possible further assistance from the state government in that regard to perfect acquisition of the site for immediate development.”
SIKIRAT SHEHU, Ilorin
