Date: 2016-12-16

The new President of the Kwara Chamber of Commerce, Industry, Mines and Agriculture, Alhaji Ahmed Raji, has urged the Bank of Industry, Bank of Agriculture and other financial institutions to increase their lending to manufacturers, industrialists and Small and Medium Enterprises.

He said there was a need for increased financing for industrial and business activities to get Nigeria out of its current recession.

He spoke on the sidelines of the 48th Annual General Meeting of KWACCIMA in Ganmo, Ilorin, the Kwara State capital.

He, however, cautioned that applicants for the funds must meet the requisite criteria to ensure that the funds were not misappropriated or diverted to other non-business activities.

He said that recession was inimical to industrialisation and business growth, but noted that it was a global phenomenon.

Raji lamented the closure of factories, industries and other businesses in Kwara, adding that it was imperative to make the environment friendly to investments.

He also urged manufacturers to be creative and innovative, saying that with integrity, their businesses would grow.

He also pleaded with the federal and state governments to invest more in infrastructure.

Raji said. "For business to thrive, there must be provision of infrastructure. What is the level in Nigeria? Most businesses in Nigeria are driven by power. We are not getting things right. But with the policy of the present administration, we could get there because corruption has been doing a lot of damage. All the money that people stole, if they could invest it in Nigeria, it will go a long way to help the people."