Monday, November 16, 2020 /10:45 AM / Ecobank / Header Image Credit: Ecobank

Themanagement of Ecobank Nigeria has made a firm commitment to partner and collaboratewith Ogun state government in the various sectors of the economy. ManagingDirector, Ecobank Nigeria, Patrick Akinwuntan made the pledge at the ExecutiveCouncil chambers of the Governor's office, Oke-mosan, Abeokuta during acourtesy visit on Governor Dapo Abiodun last week. At the event, the bank alsodonated rural health tricycle ambulances to the state, to assist in primaryhealthcare delivery.

Akinwuntan,who hinged the bank's visit to the state on partnering with the stategovernment on the policy thrust and developmental strides of the Dapo Abiodunled administration, said "For us as a bank, we appreciate what your governmentis doing. When we look at the specific components of your vision and strategyas encapsulated in ISEYA, which represents Infrastructure, Socialwelfare and health, Education, Youth empowerment and Agriculture, we decided tocome over to explore areas of partnership and collaboration. Your governmenthas not left the vision as an acronym, but the execution is a testimony to thegreatness of this state. We believe the outcome of this collaboration willbenefit not just indigenes of Ogun state alone, but our dear country Nigeriaand the Africa continent".

Specifically,the Ecobank managing director reiterated that Ogun state is one of the leadinglights in ease of doing business amongst all the states in the federation,assuring that the bank will help attract funding for long term projects. "Iwant to also commend your government in terms of peaceful environment of doingbusiness. Ogun state is one of the leading lights in ease of doing business anda place to invest in". "I would like to reiterate that we stand ready tosupport you in attracting investments to fund the long-term infrastructureprojects that you have rightly embarked on". "We understand that suchprojects will require long-term financing, the history and rating of Ogun stateplaces it in a unique position to leverage on the capital market for long terminstruments like bonds. We stand ready to collaborate and support you on thisjourney," he said.

 Hecommended the state government's Private Public Partnership (PPP) approach ofhandling projects, assuring that the bank is ready to deploy its expertise andsupport in the areas of empowering women businesses, Micro, Small and MediumEnterprise (MSMEs), agriculture, health and other strategic sectors of thestate's economy.

TheGovernor, his Excellency, Prince Dapo Abiodun, in his remarks called onEcobank and other financial institutions in the country to join hands with thestate government to fix the Lagos/Agbara and Ota/ Abeokuta federal roads. Hedisclosed that his administration was on the verge of getting federalgovernment's approval to embark on the rehabilitation of the roads through thePPP model.

"Let'ssee what you can do for us in terms affordable housing through mortgageschemes, advertising on our job portal, Infrastructure. I am sure you are awareof the Agbara corridor which is the biggest industrial hub in this country; theroad leading from Lagos to Agbara is a nightmare; that road is a federal road,but we have decided to take on it as a State". "We have decided to take itover and construct it under a PPP arrangement". "We hope Ecobank willperhaps be interested in this PPP model in partnership with other banks. Thesame goes for the Ota-Abeokuta road," the governor said.

Abiodunalso noted that his administration was looking at supporting vulnerable groupsin the society through the provision of single digit or zero interest loans. Hecalled on Ecobank to partner with the state government in providing loans thatwould help the beneficiaries improve on their businesses.

"We arelooking to support our vulnerable groups in the society, our women who arebasically the strength of the society, they are very hard-working, and all theyneed is little capital". "We aim to provide loans for them at single digit orzero interest rate and we know that they will pay back. They are religiousabout paying back. Let's see how we can work with Ecobank to design a modelthat will allow us to support them," he stated.

Othermembers of the bank's visiting Executive Management Team include the ExecutiveDirector, Commercial Banking, Carol Oyedeji ; Head, Consumer Banking, KoredeDemola-Adeniyi; Segment Head, Public Sector/AgriBusiness, MojisolaOguntoyinbo; Regional Head, South West/Mid-West, Christopher Olusola; RegionalManager, Public Sector, South West/Mid-West, Victor Inyang and BusinessManager, Abeokuta branch, Olusegun Makinde.

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