The Abia State government is set to launch a significant new initiative on Thursday, July 11, 2024, with the introduction of a N1 billion interest-free revolving loan program aimed at benefiting 9,200 residents across the state’s 184 wards.
This program, part of the Abia Cooperatives Scheme, marks a major step in the state’s efforts to provide economic relief and empowerment to its citizens.
The Commissioner for Information and Culture, Prince Okey Kanu, announced the upcoming launch at a press briefing held at the Government House in Umuahia. He explained that the first phase of the loan scheme will see 50 beneficiaries selected from each of the 184 wards in the state. “In fulfilment of one of his campaign promises, Dr. Alex Otti will on Thursday, the 11th of July 2024, officially launch the disbursement of interest-free revolving loans to Abians under the Abia State Cooperative Support Scheme,” Kanu said.
The scheme is designed as both a palliative and empowerment initiative, aiming to support nano and micro-business operators in Abia State. “This is meant to support nano and micro business operators in the state. It is meant to help them in their businesses. It will help to ameliorate the difficulties people are experiencing in their businesses as a result of the economic headwinds that are currently affecting the nation’s economy,” Kanu stated. He highlighted that the scheme’s short, medium, and long-term impacts are expected to significantly benefit the state’s economy.
In addition to discussing the loan scheme, Kanu addressed other pressing issues facing the state. He condemned the recent rise in vandalism of public schools and other properties, underscoring that the government is taking measures to curb these acts. “We found out that people are busy trying to vandalize school properties and this ugly trend needs to be stopped so that the effort the government is making at reforming the education sector will not be in vain,” Kanu remarked. He called on President Generals of Town Unions, traditional rulers, and other stakeholders to take responsibility for protecting public school properties in their communities.
Kanu also announced that enforcement against street trading and illegal motor parks in Aba and Umuahia will soon begin, urging those involved to cease their activities immediately. “Enforcement against street trading and illegal motor parks in Aba and Umuahia would commence and we urge those engaging in such acts to desist forthwith,” Kanu stated.
Prince Uzor Nwachukwu, the Commissioner for Local Government and Chieftaincy Affairs, supported this stance, emphasizing that the government has been patient and understanding over the past three months. “Now we want to get into enforcement, having pleaded with our people for the past three months, we believe we have done enough. We owe all Abians a duty to ensure our cities are safe, that’s what we want to achieve and that is in the interest of all Abians,” Nwachukwu said.
Meanwhile, Mr. Mike Akpara, the Commissioner for Finance, used the occasion to address recent allegations about the state’s finances. He firmly denied claims that he or any other government officials receive monthly payments of N10 million. “I want to categorically state here, that the Commissioner of Finance does not take home N10 million monthly. It is not done anywhere,” Akpara asserted. He further clarified that no state officials receive such large sums, countering claims that others might take home N5 million or N3 million monthly.