Kwara’s Ease of Doing Business Council Trains Entrepreneurs on Access to Credit, Export Processing

Kwara State Ease of Doing Business Council (EODBC)) on Friday organised a one-day workshop to build the capacity of entrepreneurs and investors in the state on how to access credit facility to strengthen their businesses, build strong network for exports and better manage their portfolios for growth.

A statement by the Press Secretary, state Ministry of Finance, Babatunde Toyin Abdulrasheed, revealed that the workshop,

themed ‘Access to Credit for Investors in Kwara State’, was attended by government officials, members of the council, captains of industry, banking institutions, financial experts, artisans and marketers’ associations. 

The session featured lectures by Dr Ayinde Salihu Mosadi from the Nigerian Export Promotion Council, Kwara State Coordinating Unit; Oluremi Agboola and Nnenna Jacob-Ogogo from First City Monument Bank (FCMB); and Head of Credit Risk Management, Sterling Bank, Olukayode Oyebangbose.

They spoke on key areas like streamlining the export certification process for investors; unlocking credit opportunities to empower investors with the financial tools they need; and managing debt and ensuring long-term financial sustainability.

Top attendees included the Commissioner for Finance and Chairman of EODBC, Dr Hauwa Nuru; Commissioner for Agriculture and Rural Development, Hon. Olohuntoyisi Thomas; Commissioner for Business Innovation and Technology, Hon. Damilola Yusuf Adelodun; Commissioner for Solid Minerals, Dr Afeez Abolore; Commissioner for Housing and Urban Development, Dr Segun Ogunsola; Chairman, State Internal Revenue Service (KW-IRS), Mrs Folashade Omoniyi; and Permanent Secretary Training and Establishment, Alhaji Muhammed Ibrahim.

Other are the Accountant General of Kwara State, Alhaji Abdulganiyu Sanni; Chief Press Secretary to the Governor, Rafiu Ajakaye; Chairman, State Geographical Information Service (KWAGIS), Alhaji Abdulkareem Babatunde Sulyman; and a representative of the National Association of Small and Medium Enterprises (NASME), Alhaji Babatunde Arikewola, among others. 

Also at the event were representatives of the Kwara Chamber of Commerce, Industry, Mines and Agriculture (KWACCIMA); Manufacturers Association of Nigeria (MAN); Public Private Partnership Agency; Kwara State Leather Producers and Manufacturers; FCMB; Sterling Bank; Master Bakers and Caterers Association; Nigeria Association of Small Scale Industrialists (NASSI); and Rice Farmers Association.

Nuru said they organised the workshop to create access to credit facility for entrepreneurs with a view to growing, innovating and competing effectively in their businesses.

She said the government has been  improving the ease of doing business 

in the state by streamlining processes, reducing bureaucratic bottlenecks, and prioritising access to credit towards building a steady business ecosystem. 

“Today’s workshop focuses on one of the most critical aspects of business success: access to credit. For businesses to grow, innovate and compete effectively, access to affordable and timely financing is indispensable, hence the bringing together of experts, industry leaders and stakeholders to discuss and explore key areas,” she said.

Nuru said the discussions are not only timely but essential for a collective vision to transform Kwara into a hub of economic opportunity.

She commended the state government and entire members of the council for the tireless efforts and dedication to creating an enabling environment where businesses can thrive and contribute meaningfully to the state’s development.

“This event further attests to the commitment of the Kwara State government to foster a robust and inclusive business environment where enterprises of all sizes can thrive and contribute to the economic prosperity of the state,” she said.

“Together, we can chart a clear path towards making access to credit more seamless and equitable for all investors in Kwara State.”

Mosadi, in his presentation, said the ease of doing business policy of the state government has the capacity to promote the size of products being exported from the state.

He said Kwara, as of today, has about 487 registered exporters, who he said need to be more active for positive outcomes. 

He urged business owners to register their businesses with the NEPC at the sum of N13,000 to help promote their products and expose them to the international markets.

Financial experts — Agboola, Jacob-Ogogo and Oyebangbose — spoke on various opportunities their banks offer entrepreneurs to develop businesses and ensure financial inclusion.

Oyebangbose specifically advised business owners to take loans that are commensurate to what they need in developing their businesses and avoid diverting such funds from original purposes.

Some of the participants, who spoke at the event, took turns to appreciate the government for the workshop.

They encouraged the Nigeria Export Promotion Council to do more advocacy for people to know their operations, calling on financial institutions to make their process of obtaining business loans more friendly.

Babatunde Toyin Abdulrasheed

Press Secretary  Ministry of Finance November 22, 2024.