He believes nobody will bring their savings to Nigeria as capital for its development; therefore, Nigeria would only successfully drive development and growth when it utilizes its own resources effectively.
The Governor also touched on the drop in the banking sector’s interest rates which has resulted in banks having to invest in optional, viable enterprises to remain financially resilient.
According to him, his administration had in the past three years, created an enabling atmosphere for businesses to thrive and as such, is ready to adapt to the credit change.
He reports:
“We have made investment in our physical, social and digital infrastructure. We have built roads and ate building infrastructure for digital technology, we have constructed about 400km of fibre lines across the state, so with that we are ready for digital investment.”
The governor also hopes to achieve financial inclusion in rural areas with reports of human trafficking as he plans to strike partnerships with the banking sectors.
In a report, he stated:
“We want to partner with you in the CBN Anchor Borrowers Programme, so that our people can benefit from the scheme. The areas where we found human trafficking endemic are those with least investment in infrastructure and therefore the people are excluded financially. “You can barely find a branch of a bank in Uhunmwode, Orhionmwon and the two Ovia local government areas in the state. When people are financially excluded, they don’t have access to financial infrastructure.”
Following these expositions, the governor reaches out to banks to establish more branches across Edo state to improve financial inclusion in the state.
