Abia State Government will on Thursday unveil N1bn Interest Free Revolving Loan Scheme for 9,200 Abians from the 184 wards in the state in the first phase of the programme.
The state Commissioner for Information and Culture, Okey Kanu, disclosed this while briefing journalists on the outcome of this week’s executive council meeting presided by Governor Alex Otti on Monday.
He said the 50 beneficiaries would be selected from each political ward in the state, adding that the scheme, which is an interventionist and empowerment programme, would help the beneficiaries as well as have a positive effect on the state economy.
He said the governor will officially unveil the disbursement of the loan through the Abia State Co-operative and Support Schemes.
“This is meant to support micro businesses operating in the state. It is an interventionists 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 downturn in the country,” Kanu averred.
Kanu noted with dismay, the rise in vandalism of public schools and property in the state, a situation he said government frowns at.
He pointed out that such acts of vandalism must stop forthwith and urged presidents general, town union executive and other stakeholders to take ownership of the public schools in their communities.
He announced that henceforth enforcement against street trading and illegal motor park operations in Aba and Umuahia would commence and advised those engaging in such acts to desist forthwith.
Contributing, the Commissioner for Local Government and Chieftaincy Affairs, Uzor Nwachukwu, said the government has so far shown understanding and applied the human face to the enforcement and would now act accordingly.
Also, the Commissioner for Finance, Mr. Mike Akpara clarified that contrary to the rumours making the rounds that he takes N10m home monthly, he said neither him nor other state government officials take home such an amount.
Madukwe B. Nwabuisi is an accomplished journalist renown for his fearless reporting style and extensive expertise in the field. He is an investigative journalist, who has established himself as a kamikaze reporter.
