Abia State Government Launches N1bn Interest-Free Loan Scheme
The Abia State Government is set to unveil a groundbreaking N1 billion Interest-Free Revolving Loan Scheme to benefit 9,200 Abians from across the state. In the first phase, 50 beneficiaries will be selected from each of the 184 political wards in the state. This initiative, spearheaded by Governor Alex Otti, aims to empower micro-businesses and stimulate economic growth within the state.
Speaking on the program, Commissioner for Information and Culture, Okey Kanu, highlighted the positive impact this scheme will have on the local economy. The loans, administered through the Abia State Co-operative and Support Schemes, will provide much-needed support to small businesses facing challenges amidst the current economic downturn.
In addition to the loan scheme, the government has announced plans to crack down on vandalism of public schools and illegal street trading in Aba and Umuahia. These efforts underscore the government’s commitment to fostering economic development and ensuring a conducive business environment for all residents.