The Managing Director, Bank of Industry, Rasheed Olaoluwa, has said the bank will provide more funds for Small and Medium-scale Entrepreneurs, SMEs to acquire indigenous technology in order to boost their operations.
Olaoluwa stated this in Abuja when he led the bank’s management team on a working visit to the National Agency for Science and Engineering Infrastructure.
The purpose of the visit, he stated, was to collaborate with NASENI on how to promote indigenous technology in the country.
He said BoI would provide the necessary funding to SMEs that were ready to patronise NASENI’s products.
Olaoluwa also urged engineers to key into the agency’s initiative by collaborating with it on technology innovations that were development-oriented.
He said, “BoI will be prepared to support SMEs that are ready to patronise NASENI’s technology. We are also willing to collaborate with the agency on many of its products like the solar panel and agricultural processing machines.
“A nation that wants to develop must pay attention to technology because it has been proven from the beginning of humanity that technologies control the economy. No matter how hard we try, unless we are able to achieve some form of independence in terms of technology, we are only scratching the surface.”
The BoI boss urged NASENI to get its technology products patented in order to be able to get returns in form of royalty from the users of such products.
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