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Abia Govt To Launch N1bn Interest-Free Loan Scheme For Residents

Gov Otti to launch interest-free N1bn loan scheme for Abians
Governor Alex Otti

The Abia State government is set to launch a N1 billion interest-free revolving loan scheme for 9,200 residents across the 184 wards in the state.

According to Commissioner for Information and Culture, Prince Okey Kanu, the scheme aims to support micro-businesses and empower residents, with 50 beneficiaries selected from each political ward.

The loan scheme, an interventionist program, is designed to boost the state’s economy and alleviate the difficulties faced by businesses in the current economic downturn.

The launch, scheduled for Thursday, July 11, will be performed by Governor Alex Otti, with the Abia State Co-operative and Support Schemes responsible for disbursement.

In a related development, the government has expressed concern over the rising cases of vandalism in public schools and property, urging community leaders to take ownership and protect these facilities.

Additionally, the enforcement of the ban on street trading and illegal motor park operations in Aba and Umuahia will commence soon, with warnings issued to those engaged in these activities to desist.

The Commissioner for Finance, Mr. Mike Akpara, also denied rumors of embezzlement, stating that neither he nor other government officials receive N10 million monthly from government coffers.


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