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Abia Poly to set up Micro-finance Bank, other investments to boost IGR

Abia Poly to set up Micro-finance Bank, other investments to boost IGR

The management of Abia State Polytechnic, Aba, has said it had entered into a partnership with an investor for the establishment of a Micro-finance Bank, to be known as “Abia Poly Micro-finance Bank.”

This development is in line with its quest to boost its internally generated revenue (IGR) to enable it to meet its financial obligations to staff and students of the institution, Hagler Okorie, an associate professor and rector of the Polytechnic, said.

He affirmed that the bank already has a large customer base, as its staff and students are the prospective customers of the bank.

Okorie in an address at the combined (7th to 18th) convocation ceremonies of the Polytechnic, held Friday, said that the institution has also established a business school, which is geared towards providing teaching and learning to Aba industrialists, artisans and all others that require certification of their trade.

He also announced a partnership with a private investor for the establishment of Abia State Polytechnic International Academy, which will operate a creche, pre-nursery, nursery and primary school.

“In a bid to drive a synergy between the ‘Gown and the Town’ the current administration welcomes new progressive ideas to improve the fortunes of the Polytechnic.

“As a technology-based institution, infrastructure is critical to smooth functioning,” he said.

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He expressed gratitude to TETFUND for its numerous interventions to the institution, noting however, that it has not assuaged the required infrastructural and other financial needs of the institution.

Okorie further said that there was a need for more modern laboratories, studios, workshops and classroom spaces and appealed for synergy with the Alumni and fellowship awardees to assist in providing the needed infrastructure.

Obioma Ekpem, Chairman of, Governing Council of the Polytechnic, affirmed that the council has given the approval to reopen negotiations geared towards shoring up the resources of the institution.

He said that the management has recently opened the Polytechnic Press, revitalised the centre for consultancy services and improved its confectionery outfit.

“Also in the offing are the resuscitation of the hospitality and tourism unit and repositioning of Abia Poly table water and agro feed production,” Ekpem said.

He appealed to well-meaning Nigerians to partner with the institution for a prosperous future.

About 28,000 students graduated from the institution from 2009 to 2021.