Jimitota Onoyume
2 September 2008
GRANTING of long term loans by banks has been identified as one way of creating a roboust and strong economy. Governor Rotimi Amaechi who spoke in Port Harcourt while commissioning the Bank road branch of Access Bank plc said the short term loans banks grant are not really helping entrepreneurs.
"If you want our economy to grow, banks must begin to give long term loans so that people can invest and make profit and pay back the loans," Amaechi noted.
Describing the banking sector as the strength of the economy, Governor Amaechi observed that although most Nigerian businessmen seemed to be interested in making quick profit, the banking sector was not created for that purpose, and appealed to the banks to support Rivers people who have long term investments.
According to him, the state government was pleased with the support Access Bank has given to the government, but appealed for more, not only in the area of funding, but also in helping government make good business decisions.
He congratulated Access Bank Plc for opening two new branches in Port Harcourt , expressing the hope that the gesture would not only enhance the growth of business in the state, but promote public-private collaboration in business.
The move, Governor Amaechi contended, would also create employment opportunities as well as create avenues for more businesses to thrive, as more people would understand that Rivers State is not a war front as it is currently being presented in some sections of the media.
Earlier, the Group Deputy Managing Director, Access Bank Plc, Mr Herbert Wigwe said the Commissioning of the two new branches has brought the number of branches of the bank in Port Harcourt to nine.
Mr Wigwe said the move was not only an indication of the viability of the state and the confidence the bank has in the state government, but an eloquent testimony of the presence of critical stakeholders of the bank in the state.
He assured that the bank would continue to support the various initiatives of the state government geared towards improving the lot of the people, as well as offer employment to indigenes of the state.
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