Senator Smart Adeyemi (APC, Kogi West) has said Banks that denied him loan to run his business had offered to provide him the facility after he returned to the senate.
Senator Adeyemi stated this while contributing to the motion on the rising cases of unemployment in Nigeria, sponsored by former deputy senate president, Eke Ekweremadu, on Wednesday.
The lawmaker noted that the Nigerian banks were, in no small measure, contributing to the problems of unemployment in the country.
He said that many small scale industries in the country were now moribund because they could not access loan from banks to finance their business.
“We also have unemployed graduates with business ideas, approaching banks for loan without success, and in most cases, the banks asking for high interest rate of up to 40%,” he said.
Leading his debate, Senator Ekwaremodu described the rate of unemployment in Nigeria as a time bomb that would explode soon.
He said that the unemployment was responsible for the rising case of insurgency, kidnapping, armed robbery, cyber crimes and other forms of vices bedevilling the country.
Ekweremodu called on state and federal government to resuscitate moribund industries and build new ones to provide more employment, and provide conducive environment for private sector to operate and create more jobs.
“Also, government should initiate a sustainable fund that will provide stipends to unemployed youths” he added.
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