The Owerri Chamber of Commerce, Industry, Mines and Agriculture (OCCIMA) has commended President Bola Tinubu for approving the release of the N75 billion intervention fund for Nigerian entrepreneurs, describing it as a tangible step toward economic inclusion and enterprise growth.
Speaking at a press briefing, the OCCIMA President hailed the fund as a strong demonstration of the administration’s commitment to empowering Micro, Small and Medium Enterprises (MSMEs), deepening inclusive growth, and promoting an export-driven economy.
He, however, called on the federal government to ensure that entrepreneurs in Imo State are not excluded from this opportunity. He urged the Bank of Industry (BOI), which is administering the fund, to establish a fully operational office in Owerri, the state capital, to guarantee fair access for businesses in the region.
According to him, the absence of a BOI office in the state has hindered many local businesses from accessing critical support and financing needed to scale operations and create jobs. He emphasized that while some entrepreneurs have benefited from the intervention, a larger number remain unable to access the fund due to logistical and institutional challenges.
“Our members are already mobilizing to apply for this facility. But without a BOI office in Imo, many face serious barriers. The presence of a functional branch would unlock new opportunities and reduce the cost of doing business, especially as the facility comes with a single-digit interest rate and long repayment period,” he said.
He further noted that although a BOI Manager has been appointed for Imo State and the state government has provided a temporary office, operations are yet to commence. This delay, he stressed, is denying Imo-based entrepreneurs timely access to life-changing financial support.
“It is with a deep sense of urgency and responsibility that we call on the federal government to act now and direct the BOI to begin operations in Imo. This will show a true commitment to equity in national development and ensure that no region is left behind in the current economic revival,” he said.
While acknowledging the BOI’s ongoing efforts through its leadership, he insisted that a physical and functional presence in the state would significantly accelerate industrial activity and economic inclusion.
He concluded by affirming Imo State’s readiness to utilize the intervention fund effectively, stating that the business community is organised and prepared to channel the funds toward productive activities that would drive job creation, boost industrial capacity, and contribute to national growth.
