Kwara To Benefit From CBN’s N200bn Funds For Innovation Hubs

Kwara state would benefit from the N200 billion funds the Central Bank of Nigeria has set aside to promote innovative ideas and entrepreneurship, Governor AbdulRahman AbdulRazaq has said.

AbdulRazaq said talks have reached an advanced stage for the state to be considered for the funds that would establish innovation hubs in the area of high-end movie production and textile manufacturing.

“We are talking with the CBN on the innovation hub and I’m glad to inform you that our proposal to access the fund is receiving favourable ratings,” AbdulRazaq told a delegation of Kwara Youth Centre (KYC) who visited him in Ilorin, the state capital, on Wednesday night.

“When these hubs are created, they would generate at least 2000 jobs in the area of movie production and textile designs.”

KYC is an umbrella body of young people, especially professionals, who research into the challenges in various communities and offer short and long term solutions or interventions.

The governor said the hubs would attract European and Chinese firms and lead to technology transfer to the indigenous workers.

AbdulRazaq said he envisions a state where government would create the right environment for individuals to create wealth and employment rather than anyone relying exclusively on the government to give them job.

He restated his commitment to agricultural value chains, especially in the area of cashew and sugarcane.