The Delta State Government has unveiled ambitious plans to secure a substantial ₦1 billion loan facility from the Bank of Industry (BOI) as part of a comprehensive strategy to reposition the state as a leading industrial hub in Nigeria.
Strategic Partnership for Industrial Growth
Governor Sheriff Oborevwori made this significant announcement during the 39th Annual General Meeting of the Manufacturers Association of Nigeria (MAN), Edo/Delta Branch, which took place in Asaba. The governor, represented by Deputy Director (Industries) Mr. Ocheli Jude, emphasized that this loan scheme represents a strategic collaboration between the state government and BOI aimed at providing crucial financial support to manufacturers and medium-scale industries throughout Delta State.
The timing of this initiative coincides with global shifts toward digitalization, green energy adoption, and artificial intelligence integration in manufacturing processes. Governor Oborevwori stressed that Delta State must take proactive measures to avoid falling behind in the rapidly evolving global manufacturing ecosystem.
Embracing Digital Transformation in Manufacturing
Mr. Otunba Francis Meshioye, the National President of the Manufacturers Association of Nigeria, highlighted the relevance of the AGM's theme: "Enhancing the Nigerian Manufacturing Landscape through Digital Innovation." He maintained that the global economy is undergoing rapid transformation, with the manufacturing sector positioned at the forefront of this change. Meshioye emphasized that the Fourth Industrial Revolution presents both challenges and opportunities that Nigerian manufacturers must actively embrace.
Echoing these sentiments, Mr. Ehizogie Osadolor, Chairman of MAN's Edo/Delta Branch, provided concrete examples of how digital tools are already reshaping Nigeria's manufacturing output and competitive edge. He noted that technology deployment and digital innovation play crucial roles in transforming production processes, enhancing operational efficiency, enabling faster output, and improving decision-making capabilities within the manufacturing sector.
Addressing Industry Challenges
The Delta State Government has committed to working closely with MAN to identify critical needs within the manufacturing sector. This collaboration aims to strengthen local production capacity while supporting industries grappling with numerous challenges, including high operational costs, supply chain disruptions, and infrastructure gaps.
Despite Nigeria's fluctuating economic environment, manufacturers who have leveraged automation, data analytics, and digital supply chain systems are reporting measurable gains in both productivity and cost-efficiency. This successful adoption of technology provides a compelling case for the state's investment in digital transformation initiatives.
The ₦1 billion BOI loan scheme represents a significant step toward building a more resilient and technologically advanced industrial base in Delta State, positioning it for sustainable economic growth in the years ahead.
