Abia State to Launch N1 Billion Interest-Free Loan Scheme for 9,200 Residents

Abia State government is set to launch a significant economic initiative aimed at supporting micro-business operators across the state. Commissioner for Information and Culture, Prince Okey Kanu, announced that the state will introduce a N1 billion interest-free revolving loan under the Abia Cooperative Support Scheme.

This initiative is slated to benefit 9,200 residents, with 50 beneficiaries selected from each of the 184 wards in the state during the first phase.

The program, designed as both a palliative measure and an empowerment scheme, seeks to uplift the lives of beneficiaries and contribute positively to the state’s economy in the short, medium, and long terms. Dr. Alex Otti, fulfilling a campaign promise, will officially kick off the loan disbursement on Thursday, July 11, 2024.

Commissioner Kanu also addressed concerns over the rising vandalism of public schools and properties in Abia State, emphasizing the government’s stance against such acts. He urged community leaders, including President Generals of Town Unions and traditional rulers, to take responsibility for protecting public schools within their jurisdictions.

Furthermore, the commissioner highlighted upcoming enforcement measures against street trading and illegal motor parks in Aba and Umuahia. He called on those involved in such activities to cease immediately, as the government prepares to enforce regulations aimed at ensuring safety and orderliness in the cities.

In a related development, Commissioner for Local Government and Chieftaincy Affairs, Prince Uzor Nwachukwu, emphasized the government’s commitment to maintaining law and order, following a period of plea and understanding with residents.

Addressing rumors, Commissioner for Finance, Mr. Mike Akpara, denied allegations of exorbitant monthly payments to government officials. He clarified that neither he nor his colleagues receive N10 million monthly, dismissing such claims as unfounded and inaccurate.

The initiatives and statements underscore Abia State’s proactive approach to economic empowerment, community safety, and fiscal transparency as it continues to address various challenges and opportunities within its jurisdiction.