Governor Seriake Dickson on Monday said, the Memorandum of
Understanding signed between the Bayelsa State Government and the Bank
of Industry was a part of an effort to raise the N10 billion
entrepreneurship development fund to create wealth for small and
medium scale entrepreneurs in the state.

Dickson, who made the disclosure during the signing of the MOU between
the state government and the management of the BoI in Government
House, Yenagoa, stressed that, small and medium scale enterprises will
drive and form the nucleus of the proposed industrial take off of the

According to him, the state government for the first time, created the
Izon Ibe Micro-finance Bank to address the challenges of funding for
those, who are in dire need of funds, as well as the creation of
entrepreneurship development school to train and prepare people to
manage enterprises of their own.

He said, “This government is taking a comprehensive review of the
workforce in the state to launch the employee to employer programme
and that is why we are very happy with the memorandum of understanding
we have just signed today.

“This MOU is our effort to create the N10 billion entrepreneurship
development fund our government promised in our budget speech.  This
N10billion will be used to give loans and grant facilities to start

While appreciating the support of the Bank of Industry to the state,
Governor Dickson called on federal agencies to lend their support to
the state, as it needs every support to develop, create wealth,
promote peace and prosperity in the country.

In his remarks, the Ag. Managing Director and Chief Executive Officer
of the Bank of Industry, Mr. Waheed Olagunju assured Governor Dickson
of the bank’s preparedness to work with the enterprises development
agency, in identifying potentially viable micro, small and medium
scale enterprises in the state.

The Ag. MD/CEO noted that, the bank was glad that, the state
government is developing the capacity of Bayelsans, stressing that,
the ongoing efforts of the government, informed the decision of the
bank to partner with the state administration, in ensuring the
building of business models for the local entrepreneurs.

He noted with delight that, during the Bayelsa investment forum in
2014, there was a huge exhibition of aquatic and agricultural produce,
for which value could be added, stressing that, the local areas that
have comparative advantage will translate to competitive advantage.

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