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(BOI Disburses N692bn Loans in 10 Years, Articles)
(Don calls for proper funding of tertiary institutions)
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The Managing Director, Bank of Industry (BOI), Alhaji Rasheed Olaoluwa, yesterday said the bank had disbursed N692 billion as loans to industrialists nationwide in the past 10 years.
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Chairman of the tribunal of enquiry into the crisis at Michael Otedola College of Primary Education, Professor Idowu Shobowale, has advised Lagos State government to pay serious attention to funding of tertiary institutions.
  
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Professor Shobowale gave the advice during the submission of the tribunal鈥檚 report.&nbsp;
Olaoluwa made this known to journalists in Ilorin during the pre-inauguration visit of the Minister of Industry, Trade and Investment, Mr. Olusegun Aganga, to Kam Industries.<br>
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The News Agency of Nigeria (NAN) reported that Aganga was in Ilorin to inspect the Cold Roll Mill project of Kam Industries.
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Addressing members of the state executive council, he urged the government to take over payment of salaries of staff in tertiary institutions.
Olaoluwa said the bank had financed about 2,000 projects amounting to N296 billion in the last 10 years across the country.
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The managing director also said one million jobs were created through the loans accessed by the industrialists.
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He said all hands must be on deck to eliminate what he described as irresponsible and destructive tendencies on the part of students of the institution.
  
According to Olaoluwa, BOI is the leading financial institution in the country that provides financial assistance for the establishment of large, medium and small scale projects.
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鈥淲hen facilities provided with tax payers鈥?hard earned money are vandalised, a number of things happen. First, progress is halted; the facilities cannot be expanded or added to; rather, they have to be replaced. This kind of self-inflicted but senseless retardation must be stopped in our society.鈥?
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He also said the management of public institutions in Lagos State has to be more sensitive to the complaints of students entrusted to their care and must be more proactive in meeting their genuine needs.
  
He said the bank had also helped in providing an enabling environment for the expansion, diversification and modernisation of existing industries and rehabilitation of ailing ones.
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Responding, Governor Babatunde Fashola said the state government would continue to do what was needed to improve learning institutions.&nbsp;<p>Related Articles:</p><ul><li><a href=http://www.louisvuitton-pascher.com>Louis Vuitton Evora</a></li><li><a href=http://www.louisvuitton-pascher.com>Louis Vuitton Galliera</a></li><li><a href=http://www.louisvuitton-pascher.com>Louis Vuitton Lockit</a></li></ul>
 
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Speaking after inspecting the complex, Aganga expressed satisfaction with the level of work done so far.
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I want to say that we have come; we have seen and we are completely delighted with what we have seen, said the minister.
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He said Kam Industries would greatly reduce the amount of money spent in importing iron, adding that the nation spent about 3.3 billion dollars on the importation of iron.
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Earlier, the Managing Director of Kam Industries, Alhaja Bola Yusuf, commended the minister for the new lease of life his ministry was injecting into industrial development of the country.
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Yusuf, however, said there were challenges being faced by industrialisation, which included insecurity and unstable foreign exchange, among others.
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She said the complex was an assembly of high technology from 11 countries, including India, USA, Germany, Korea, China, Brazil, Spain, Turkey, Belgium and Egypt.
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According to her, the cold Rolling Mill has created employment opportunities for downstream companies in the state.
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With a little addition of equipment we can produce vehicle panel bodies here in Nigeria and a host of raw materials for many companies, Yusuf said.<p>Related Articles:</p><ul><li><a href=http://www.louisvuitton-pascher.com>Acheter louis vuitton</a></li><li><a href=http://www.louisvuitton-pascher.com/26-voyage-louis-vuitton>Voyage Louis Vuitton</a></li><li><a href=http://www.louisvuitton-pascher.com/28-portefeuille-louis-vuitton>Portefeuille Louis Vuitton</a></li></ul>
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Revision as of 00:51, 31 October 2014

Chairman of the tribunal of enquiry into the crisis at Michael Otedola College of Primary Education, Professor Idowu Shobowale, has advised Lagos State government to pay serious attention to funding of tertiary institutions.

Professor Shobowale gave the advice during the submission of the tribunal鈥檚 report. 

Addressing members of the state executive council, he urged the government to take over payment of salaries of staff in tertiary institutions.

He said all hands must be on deck to eliminate what he described as irresponsible and destructive tendencies on the part of students of the institution.

鈥淲hen facilities provided with tax payers鈥?hard earned money are vandalised, a number of things happen. First, progress is halted; the facilities cannot be expanded or added to; rather, they have to be replaced. This kind of self-inflicted but senseless retardation must be stopped in our society.鈥? He also said the management of public institutions in Lagos State has to be more sensitive to the complaints of students entrusted to their care and must be more proactive in meeting their genuine needs.

Responding, Governor Babatunde Fashola said the state government would continue to do what was needed to improve learning institutions. 

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