The Abia State Government is set to launch a N1 billion Interest-Free Revolving Loan Scheme aimed at benefiting 9,200 residents from the state’s 184 wards in its initial phase.
This announcement was made by the Commissioner for Information and Culture, Okey Kanu, following the executive council meeting presided over by Governor Alex Otti.
Kanu specified that 50 beneficiaries will be selected from each political ward, totaling 9,200 beneficiaries statewide. The scheme, designed as an interventionist and empowerment initiative, aims to support recipients while positively impacting the state’s economy.
The governor is scheduled to officially unveil the loan disbursement process through the Abia State Co-operative and Support Schemes.
“This is meant to support micro-businesses operating in the state. It is an interventionist programme that will act as a palliative and empowerment for the beneficiaries.
“To ensure an even spread around the state, 50 beneficiaries have been drawn from 184 political wards in the state.
“The short, medium and long time effect of the programme is huge and it definitely has a positive effect on the state economy and it will help to ameliorate the difficulties people are facing in their businesses in face of economics down turn in the country,” Kanu averred.
Kanu expressed concern over the increasing vandalism of public schools and property in Abia State, emphasizing that such actions are strongly condemned by the government. He urged community leaders, including presidents general and town union executives, to take responsibility for protecting public schools within their communities.
He also announced the commencement of enforcement measures against street trading and illegal motor park operations in Aba and Umuahia. Kanu advised those involved in these activities to cease immediately.
In addition, Commissioner Uzor Nwachukwu of Local Government and Chieftaincy Affairs assured that while previous enforcement actions had been approached with understanding, stricter measures would now be implemented.
Furthermore, Commissioner Mike Akpara of Finance addressed rumors alleging that he and other state officials receive monthly sums of N10 million. He clarified that these rumors are false, emphasizing that neither he nor any other state government officials receive such amounts.
