The Abia State Government will introduce a N1 billion interest-free revolving loan scheme for 9,200 Abians from the state’s 184 wards on Thursday as the first phase of the project.
The state Commissioner for Information and Culture Okey Kanu, announced this while updating journalists on the outcome of this week’s executive council meeting, which was presided over by Governor Alex Otti on Monday.
He said that the program, which is an interventionist and empowerment initiative, will assist the beneficiaries as well as have a good impact on the state economy. He said the 50 recipients would be chosen from each political ward in the state.
According to him, the loan’s formal release through the Abia State Cooperative and Support Schemes would be unveiled by the governor.
“The goal of this is to assist small companies that are active in the state. This interventional initiative will empower and provide palliative care for the recipients.
“50 recipients have been selected from among the 184 political wards in the state to provide a fair distribution throughout the region.
According to Kanu, “the program has a huge short-, medium-, and long-term impact and is definitely positive on the state economy. It will help to ameliorate the difficulties people are facing in their businesses in face of the country’s economic downturn.”
Kanu expressed dismay over the state’s rising rate of property and public school damage, claiming that the government disapproves of the situation.
He emphasized that such vandalism has to end immediately and asked town union executives, presidents general, and other relevant parties to assume responsibility for their communities’ public schools.
He said that street trade and illegal motor park operations in Aba and Umuahia would henceforth be subject to enforcement, and he asked individuals involved in these activities to stop right now.
