Abia Government to Launch N1 Billion Interest-Free Loan Scheme for Residents

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The Abia state government is set to launch a N1 billion interest-free revolving loan initiative on Thursday, aimed at empowering 9,200 residents across the state’s 184 wards. This announcement was made by Prince Okey Kanu, the Commissioner for Information and Culture, during a press briefing at Government House in Umuahia.


Under the first phase of this scheme, 50 beneficiaries have been chosen from each ward to receive support. This initiative, part of the Abia Cooperatives Scheme, is designed as both a palliative measure and an empowerment program to significantly improve the lives of the participants.


Prince Kanu highlighted that the program is in line with Governor Dr. Alex Otti's campaign promises. He emphasized that the loan scheme will aid nano and micro business operators, helping them to overcome economic challenges and enhance their business operations. He stated, “Dr. Alex Otti will officially launch the disbursement of interest-free revolving loans to Abians under the Abia state Cooperative Support Scheme. This initiative is meant to support nano and micro business operators in the state, helping to alleviate the economic difficulties they face.”


Additionally, Prince Kanu expressed concerns over the increasing vandalism of public schools and properties in the state. He urged local leaders, including President Generals of Town Unions and traditional rulers, to take responsibility for protecting these institutions. “The trend of vandalizing school properties must be stopped to ensure the government’s efforts in reforming the education sector are not in vain,” he said.


The state government is also set to begin enforcement actions against street trading and illegal motor parks in Aba and Umuahia. Commissioner for Local Government and Chieftaincy Affairs, Prince Uzor Nwachukwu, noted that the government has shown considerable patience over the past three months and will now enforce regulations to ensure the safety and orderliness of the cities. “We have pleaded with our people, and now we must ensure our cities are safe for all Abians,” Nwachukwu said.


Furthermore, Commissioner for Finance, Mr. Mike Akpara, addressed rumors regarding alleged exorbitant monthly payments to state officials. He categorically denied these claims, stating, “The Commissioner of Finance does not take home N10 million monthly, nor do any other state government officials receive such amounts.”


This comprehensive loan initiative, coupled with the government’s commitment to tackling vandalism and enforcing city regulations, reflects Abia state's dedication to improving the welfare and economic stability of its residents.

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