VP KWACCIMA urges FG to mandate banks to support industries through adequate funding

Date: 2018-03-18

An Industrialist and Vice President of KWARA State Chambers of Commerce, Industry , Mines and Agriculture, (KWACCIMA ) Mr Babalola Muyideen Oyeyemi has called on the Federal Government to come up with a deliberate policy to mandate banks to set aside a percentage of their net profits to support industries in the country otherwise more industries will crumble.

According to him, such policy will not only revive moribund industries but will also assist existing industries to grow and in turn, reduce the high rate of unemployment particularly among our teeming youths as done in the education sector under the TETFUND.

Mr Babalola who is in charge of Industries in KWACCIMA and the Managing Director of Polar Petrochemicals Limited located at Laduba in Asa local government area of Kwara state expressed these views in Ilorin during an interview with journalists.

He explained that such funds would be managed by Nigerians with integrity and be accessed by indecent would-be industrialists without much burden as the government can no longer provide white collar jobs for the citizenry.

The Industrialist disclosed that except Nigeria becomes an effective producing nation, the economy can not grow and lamented that presently, Nigeria relies on trading where countries like China, Dubai and India use her markets as a dumping ground .

Mr Babalola added that in as much as the government might not completely ban importation, government need to protect the local manufacturers by imposing heavy tariff on imported goods thereby discouraging foreign products into the country .

He claimed that the government has been given lip service on the enforcement of patronizing made in Nigeria goods claiming that at most government functions foreign products were always displayed and made use of against the indigenous items.

The KWACCIMA Vice President regretted that finished Nigerian products compete with foreign goods in the country whereby Nigerians still have to pay heavily for energy, multiple taxation and to source for funds for their businesses alleging that most of the foreign products imported to the country are substandard products and fake.

Mr Babalola also condemned the idea where the federal government imports base oil , which is the main raw material in the lubricant industry into the country with trillions of Naira since the past fifteen years that Kaduna Refinery had stop production of the product and urged the government to quickly address the issue .

 


Cloud Tag: What's trending

Click on a word/phrase to read more about it.

Muhammed Taofeeq Abdulrazaq     Quranic Recitation Competition     Olusola Saraki     Wahab Kunle Shittu     Balogun Ajikobi     VADA     AGM Professional Services     Sidikat Alaya     Basic Education Certificate Examination     Amina El-Imam     Aliyu Umar     Abdulmumini Sanni Jawondo     Muslim Media Watch Group Of Nigeria     Ajayi Okasanmi     Taiwo Joseph     Marufat Oladosu     Olaiya Zuberu     Ilorin East/South Federal Constituency     International Aviation College     Ibrahim Issa Jetti     Aminat Omodara     CUTI     Wole Oke     Special Adviser On Digital Innovation     Abdulrasheed Na\'Allah     Oye Tinuoye     Paul Odama     Abdulkadir Remi Hawawu     Abdulrahman Iliasu     Galadiman Ngeri     Special Agro-industrial Processing Zone     Tunde Oyawoye     IPSAS     Chief Imam Of Lafiagi     Otunba Taiwo Joseph     T And K FOODS     Gwanara     Kwara Volleyball Association     Oyedepo     Mohammed Khadijat Kubura     Abubakar Suleiman     CACOVID     Egbewole     Principal Private Secretary     Salihu Jibril Garbi     Ali Ahmad     Kudirat Arinola Lawal     Gani Saadu     KWSIEC     Ridwan Agboola     Abdullahi Dasilva Yussuf     Moses Adekanye     Ibrahim Abduquadri Abikan     Ophthalmological Society Of Nigeria     UNILORIN Alumni Association     Ahman Pategi University     Dan Iya Of Ilorin     Emir Of Shonga     Nigeria Customs Service     Bisi Oyeleke     Obuh     Moronfoye     National Union Of Road Transport Workers     Afusat Nike Ibrahim     Shonga Farm Project     Abubakar Lah     Lanre Olosunde     Crystal Corner Shops     Akeem Olatunji     Nigerian Supreme Council For Islamic Affairs     Code Of Conduct     Ajikobi     Ilorin Muslim Community     HAMFAT Clinic And Maternity     Ajibike Katibi     Timothy Olatunde Fadipe     Wahab Femi Agbaje    

Cloud Tag: What's trending

Click on a word/phrase to read more about it.

Mohammed Danjuma     Kwara United     Abdulazeez Arowona     David Adesina     Yakubu Danladi     Standard Organization Of Nigeria     Ahman Pategi University     Funmilayo Zubair     Babatunde Idiagbon     Akom Construction And Engineering Synergy Ltd     Kunle Suleiman     Lafiagi     Sa\'ad Alanamu     Quran     Okiki     Abdulahi Abubakar Bata     Abdullah Janet Amudat     Col. Adedipe     Ekiti     Yusuf Ibitokun Sherifat     Saba Mamman Daniel     Farouk Salim     Oko-Erin     Khairat Gwadabe     N-Power     Aremu Odolaye     Plat Technologies Limited     Ajibike Katibi     Mohammed Haruna     Mamatu Abdullahi     Abdulrazaq Sanni     Omoniyi M. Ayinla     Seun Bolaji     Deji Ajani     Moronfoye     Akande Idowu Ayoola Muhammed     Durosinlohun Kawu     Yomi Adeboye     Kwara State Coalition Of Business And Professional Associations     PAACO-PCL Consortium     Ubandoma Of Ilorin     Maimunat Oloriegbe     Kwara Primary Health Care Development Agency     Saad Omo Iya     Sheikh Ridhwanullah El-ilory     Oke-Ogun     Firdaos Amasa     John Olajide Adedipe     Musibau Akanji     Sanitation Exercise     Gbemisola Oguntimehin     NIPOGA     Bahago     Sheu Ndanusa Usman     Abubakar Ndakene     Otuka     Garment Factory     AbdulRazaq Abubakar Jiddah     Abubakar Abdullahi Bata     Olusegun Adeniyi     Joseph Bamigboye     Mohammed Tunde-Jimoh     Mohammed Saidu     Obuh     Ajike People Support Centre     Razaq Ayobami Akanbi     Revenue Court     ITP     Yaru     Ajidagba     Bayo Ojo     Adesoye     Ijagbo Health Centre     Muslim Media Watch Group Of Nigeria     Cornelius Adebayo     Baboko     Split Diamond Interchange