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BOI PARTNERS KWARA GOVT ON ELECTRICITY GENERATION

By NBF News
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LAGOS-The Bank of Industry, BoI, has expressed readiness to partner with the Kwara State Government to generate electricity.

Speaking at the on-going three-day Kwara State Strategy Review Retreat in Lagos, the Managing Director of the bank, Ms Evelyn Oputu, pledged to source development partners for the state to construct power turbines for power generation for industrial development of the state.

The Kwara State Government is expected to determine the location of the power  turbines after necessary feasibility studies.

According to Oputu, 'about N750 million  has been set aside as small and medium enterprises, SME, loans for the state.'

She urged government to organise entrepreneurs in the state into clusters of businesses for maximum efficiency.

Ms Oputu urged the government to consider other ways of generating revenue rather than relying on the Federal Allocation.

Addressing participants at the retreat, with the theme, Kwara 2011-2015: Consolidating Development, Delivering the Benefits, Governor Abdulfatah Ahmed said his administration would identify and focus on critical areas of need of the people to impact positively on them in the next four years.

In her presentation, the Chairman, Federal Inland Revenue Service, Mrs Ifueko Omoigui, said multiple taxation, over dependence on Federal Allocation and weak internal tax system were some of the factors that government must consider for it to succeed in the task ahead.