Governor Otti to Unveil New Scheme
On Thursday, the Abia State Government will launch a N1bn Interest-Free Loan Scheme to support residents statewide, initially targeting 9,200 Abians in the first phase. Governor Alex Otti will unveil the initiative, which focuses on empowering small businesses and stimulating economic growth.
Commissioner Kanu Announces Initiative
Commissioner for Information and Culture, Okey Kanu, announced the scheme during a press briefing. He explained that they will select 50 beneficiaries from each of the 184 wards in the state, ensuring broad and equitable distribution of the funds.
Economic Impact and Empowerment
The loan scheme is designed as an interventionist and empowerment programme. Kanu highlighted that it would significantly benefit the recipients and positively impact the state’s economy by supporting micro businesses struggling due to economic downturns.
Implementation Through Co-operatives
The Abia State Co-operative and Support Schemes will manage the loan disbursement, facilitating efficient distribution and monitoring to ensure effective use of the funds for business growth.
Addressing Public Concerns
Kanu also addressed concerns over increasing vandalism in public schools, urging community leaders to protect these institutions. He announced upcoming enforcement actions against street trading and illegal motor park operations in Aba and Umuahia to maintain order and safety.
Government Transparency
In response to rumours about excessive salaries, Commissioner for Finance, Mike Akpara, clarified that neither he nor any other state officials receive the alleged monthly sum of N10m. This statement underscores the government’s commitment to transparency and accountability.
Follow us on Socials: