The Central Bank Of Nigeria Has Approved ₦2 Billion For Imo Craftsmen

The Central Bank of Nigeria (CBN) stated on Tuesday that its staff at the Jos Branch averted what would have been another big fire calamity in the country.

The Central Bank of Nigeria, CBN, has authorized a ₦2 billion loan to the Imo State government for the empowerment of the state’s artisans.

Ford Ozumba, the Commissioner for Labour and Productivity, announced this to journalists on Tuesday in Owerri, while unveiling the Imo 2022 Entrepreneurial Product Expo in collaboration with the Central Bank of Nigeria.

He stated that the Imo State administration approached the CBN and was deemed competent to receive the CBN loan.

“The project was conceived to expose artisans of state origin to trade, assist them in using their knowledge to migrate into the digital socio-formation, create structures and systems that would engage the youths in productive sectors, as well as for them to train others to alleviate poverty and contribute in the efforts to improve the state’s economy,” the Commissioner explained.

“The money is in collaboration with the CBN, and the CBN has approved N2 billion for Imo State.” We don’t have the money. It’s already in the bank. It will be given to young people in the trade. It is a loan from the Central Bank of Nigeria. For this initiative, the CBN has a facility. When we approached them, they stated Imo was qualified. The funds will be distributed to craftspeople. These artisans have already been created.

We collaborate with craftsmen’s associations. So, as part of the activities for this project, we have a weekly event, the inaugural Imo State innovation and entrepreneurial exhibition in Owerri, which will begin on May 10, 2022.

“The state is endowed with a plethora of talented artisans and accomplished industrialists whose products, such as solar energy and cold rooms, compete favorably with foreign products but are not exposed to the outside world for patronage.”

“We want to put our people on display to showcase their talents, skills, ingenuity, and creativity, and to expose this to the international community through well-designed structured technology.” “They would be motivated to export their products and contribute to the growth of our economy,” he stated.