Abia State Government to Launch N1 Billion Interest-Free Loan Scheme for Residents


UMUAHIA – The Abia state government will launch a N1 billion interest-free revolving loan under the Abia Cooperative Scheme for 9,200 residents across the state’s 184 wards on Thursday.

Thank you for reading this post, don't forget to subscribe!

Commissioner for Information and Culture, Prince Okey Kanu, disclosed this at the Government House in Umuahia during a press briefing. He explained that 50 beneficiaries have been selected from each of the 184 wards to benefit from the first phase of the loan scheme.

“The greatest challenge is creating opportunities to show that arts can be commercialized in many ways,” Kanu remarked, emphasizing the program’s dual role as both a palliative and an empowerment initiative designed to improve the lives of the beneficiaries. He added that the scheme’s short, medium, and long-term impacts will significantly benefit the state’s economy.

“In fulfillment of one of his campaign promises, Dr. Alex Otti will officially launch the disbursement of interest-free revolving loans to Abians under the Abia State Cooperative Support Scheme on Thursday, July 11, 2024,” Kanu announced. “This initiative is meant to support nano and micro business operators in the state, helping to mitigate the economic difficulties currently affecting the nation’s economy.”

Kanu also addressed the rise in vandalism of public schools and properties, stating that the government is taking measures to curb these acts. He urged President Generals of Town Unions, traditional rulers, and other stakeholders to take ownership of public schools in their communities to prevent further vandalism and support the government’s efforts to reform the education sector.

The Commissioner also revealed that enforcement against street trading and illegal motor parks in Aba and Umuahia would soon commence, urging those involved in such activities to desist immediately.

Contributing to the briefing, Commissioner for Local Government and Chieftaincy Affairs, Prince Uzor Nwachukwu, noted that the government had shown understanding and applied a human touch to enforcement efforts over the past three months. “We now need to enforce these regulations to ensure our cities are safe, which is in the interest of all Abians,” Nwachukwu stated.

Additionally, Commissioner for Finance, Mr. Mike Akpara, denied allegations of monthly payments of N10 million to his office, clarifying that neither he nor any other state government officials receive such sums. “I want to categorically state here that the Commissioner of Finance does not take home N10 million monthly. There is nothing like that,” Akpara affirmed.

Charles Akpeji
Charles Akpejihttps://naija247news.com
Charles Akpeji has over 20 years experience in journalism and he is Naija247news Taraba Correspondent. He lives and works from Jalingo, the state capital.

Share post:



More like this

Ogun, IFAD inaugurate cassava processing centre for farmers

July 12, 2024. Azonuchechi Chukwu. Ogun Government in collaboration with the...

Over 22 dead, 132 rescued from Plateau school building collapse

July 12, 2024. Azonuchechi Chukwu. The Plateau State Government has confirmed...

U.S. Advisory Council on African Diaspora Engagement to Visit Nigeria

United States of America: President’s Advisory Council on African...

Patoranking celebrated as he becomes UNDP Regional Goodwill Ambassador for Africa

July 12, 2024. Azonuchechi Chukwu. Nigerian singer Patrick Nnaemeka Okorie, better...
× How can I help you?