Oyo state, BOI partner on hydro power plants

GBENRO ADESINA/IBADAN

The Bank of Industry (BOI) said on Tuesday that it would assist the Oyo State Government in the provision of small hydro power plants in Omi Adio and Arowomole in Ido and Ogbomoso South Local Government Areas of the state respectively.

The Managing Director of BOI, Ms. Evelyn Oputu, who disclosed this during a courtesy call on Governor Abiola Ajimobi in his office in Ibadan, said the gesture would be part of her bank’s contributions towards improving the power supply in Oyo state.

Early this year, the bank provided N1 billion to the state government towards the development of small and medium scale industries in the state, with the government adding its own counterpart fund of N500 million to actualize the programme.

This, according to the BOI boss was aimed at reducing unemployment and poverty in the state.

Oputu also assured that necessary assistance would be rendered to the government to fully participate in the forthcoming London Olympics.

In his response, Governor Ajimobi expressed his administration’s determination to regaining the lost glory of the state through its seven-point agenda with emphasis on infrastructure and human capital development which he described as the bedrock of any development.

He said that his administration would leverage on the support of the bank in the areas of industrialization, commercialization, with priority on small and medium scale industry.

Governor Ajimobi, who described the state as the largest producer of cassava in Africa, also solicited the support of the bank in the area of agriculture, especially the production of cassava, rice and starch.

He said that the state would fully participate in the forthcoming London Olympics in collaboration with the Bank of Industry.