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BIPC to empower women, youths to create wealth, says MD

These include the provision of small and medium scale loans through the company’s micro finance bank, agricultural activities as well as an annual talent hunt show in partnership with the Board of Internal Revenue Service (BIRS).

Adum, also appealed to the Benue state Governor, Samuel Ortom to review the agreement between the state and the Bank of Industry where the sum of One Billion is domiciled for small and medium scale loans to allow the company’s microfinance bank dispose of the loans to state beneficiaries.

He disclosed this at an interface between the wife of the Vice President, Mrs Dolapo Osinbajo, Benue State Governor Samuel Ortom as well as his wife, Eunice Ortom and a selected group of Benue Youths at the Benue state government house during her official visit to the state.

One of the first steps in providing loans to these group of people, according to the BIPC boss is that the company will “profile all community-based associations and cooperatives, the young people and try to see how we can introduce a business dialogue, provide business information so that our young people can get exposed to the nitty-gritty of doing business.”

Adum further gave insights into how his company plans to execute this, pointing out that BIPC will tool the microfinance bank to “provide financial inclusion services to reach the unreached and the unserved, particularly our women and our youth groups through small scale business loans.”

On the ongoing loan scheme between the state government and the Bank of Industry, Adum lamented the poor performance on the loan scheme, pointing that the statistics of loans granted through this joint platform as well as Small and medium scale promotion is not very good and appealed to the state governor to review this arrangement and allow the BIPC microfinance banks to dispose of this loan.

“If we are given the sum of One Billion Naira that has been given to BOI, BIPC microfinance bank can arrange for small scale loans for our youth and women so that the requirements for processing such loans will not be as stiff as the BOI requirements.

So you would need to review that through the executive council so that you’ll empower us to empower our local community here”, he said.

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Ihesiulo Grace

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