Don’t merge BoI with others, government advised

A call has gone to President Muhammadu Buhari not  to scrap or merge the Bank of Industry (BOI), with other institutions in the country.The former Chairman of Ijebu East Local Government, Comrade Tunde Oladunjoye, made this call at the weekend in Ijebu Ode, Ogun State, while delivering a paper titled “A Call Back to Farming” at a seminar on Agriculture titled Agric Business Opportunities in the Recession Era, organized by Egbe Bobamayegun Okunrin Akile Ijebu at Grand Inn and Suites, Ijebu Ode.

Oladunjoye,  a media consultant to the World Bank on FADAMA III Additional Financing, remarked that: “I want to join millions of Nigerians in calling on President Muhammadu Buhari, GCFR, our listening President, not  to scrap or merge BOI with any other bank or banks, or agencies.”

Speaking further, the World Bank Consultant said that “over the   years, the BOI has secured the confidence and cooperation of national and multilateral organizations. Therefore,  merging the bank with any other financial institution will be a disservice to Nigerians and a big disappointment to world bodies like UNDP, UNIDO, USAID, and so on, that have already actively bought into the BOI and its transformative agenda of providing the much needed oxygen for Nigeria’s industrial growth.”

Oladunjoye, while commending the BOI led by  Mr. Waheed Olawale, observed  that recently, the BOI published a lists of Small Medium Scale Businesses being supported by the BOI, and “I am happy to note that Agric businesses/ventures are also on the list.”

He urged Nigerians, especially the youths, to form themselves into cooperatives to access the products being offered by BOI and others: “What is expedient now, is to quickly build on the success of the rice revolution by the current administration, is  modern mechanised  farming that will take full advantage of modern technology for the benefits of our teeming population.”

“We should produce food and crops that we have comparative advantage on. Not only this, we should forge ahead to add value to our farm produce through agro-processing and other aspects of the agricultural value chain,” he added.

Describing the seminar as timely, Oladunjoye commended the organisers, Egbe Bobamayegun Okunrin Akile Ijebu, urging them to organize their members and get involved in farming, saying that “this will no doubt contribute to, and quicken, the concerted efforts by President Muhammadu Buhari to take Nigeria out of recession sooner than later. It will also be a practical boost to our culture as it will project that the Regberegbe (Age Groups) of Akile Ijebu is not about feasting, wining and fashion parade alone.”