Manufacturers, industrialists, miners and agriculturists in Imo State under the aegis of Owerri Chamber of Commerce Industry Mines and Agriculture (OCCIMMA), have appealed to the Federal Government to thoroughly supervise the disbursement of the N75 billion intervention loan made available by the government to ensure an equitable disbursement.

The body also appealed to the government to establish the Bank of Industry (BoI) office in the state to ensure that its members would easily benefit from the bank’s services, and by extension ensure inclusivity and national development.

Speaking with The Guardian, President of OCCIMMA, Chief Tony Amadi, said members of the business body received news of the release of the fund by President Bola Tinubu last year with joy, but regretted that the absence of the BoI in the state has been a setback in their quest to access the loan.

Amadi said: “As the umbrella body that represents the organised private sector operators in Imo State, OCCIMA welcomes this facility as timely and transformative. Already, our members are being mobilised to apply for this BoI facility and position themselves to expand their operations, create jobs and contribute to the country’s economic growth. However, we are constrained by a critical challenge, which is the absence of a BoI office in Imo State.

“The establishment of a BOI office in Imo will lessen the burden of entrepreneurs and reduce the cost of doing business because of the single digit interest rate and long tenure of the loan facility.”

The OCCIMA boss commended Governor Hope Uzodimma for his road infrastructure development initiative in the state, saying it has opened a leeway to businesses in the state to thrive.

Amadi urged the governor to sustain the initiative. He also called on the stakeholders in the business community, development agencies, traditional institutions and the media, to join in the efforts for economic revival and development across the nation.