Chieftain of the All Progressives Congress (APC) in Rivers State, Mr Darlington Nwauju has stated that the current Management of the Bank of Industries (BoI) has the potentials of boosting the Nigerian economy.
Nwauju said given the myriad of challenges faced by the national and global economies since the economic meltdown of 2020, BoI can facilitate the improvement of the economy.
He opined that the appointment of Olasupo Olusi as Managing Director of BoI could serve as silver-lining for the nation to improve on its IGR, create more jobs and consequently shore-up the strength of the naira.
Nwauju who is the publicity secretary of APC in Rivers noted that “Nigeria presently is not found on the list of top 10 countries with largest new business formation growth year-over-year according to 2020 surveys, which acknowledges Thailand as No 10 on the global rankings”.
He said “Empirically, MSMEs contribute 49% of GDP and employ 84% of Nigeria’s workforce (PwC MSME Survey 2020 report).
“This simply means that having the right person with the right skills set has the capacity and potentialities of igniting an MSME revolution that could serve as silver bullet to cure unemployment maladies and youth empowerment challenges nationwide.”
He expressed the believe that Olusi’s team will impact positively on the dwindling economy and restore hope of the nation again, adding that the current management of BOI is bound to create great change, including creating opportunity for jobs and development in the court.
“Believe it or not having a Bank of Industry management that can nurture entrepreneurship and foster overall business development, devout time to the growth of MSMEs as well as creating a conducive environment for businesses through practicable and not hypothetical policy reforms which Mr Olusi has the qualification and experience to bring to the table, will in no small way impact our economy positively”, Nwauju added.