Alex otti, the governor of Abia state and a member of the Labour Party was sworn in on the 29th of May, 2023.
So far, he is on the right path to maintaining his vision and steeze as he has lifted the faces of Abians and is already on his way to making Abia the number one state in Nigeria.
As part of his manifesto and plans for Abia state during his campaign, the official disbursement of ₦1,000,000,000 (One billion naira) interest-Free loan has been announced. This initiative aims at empowering 10,000 Nano and Small Scale Entrepreneurs across the 184 wards in the 17 Local Government Areas (LGAs) of Abia State.
Through this scheme, the State Government will provide essential financial support to entrepreneurs, fostering business growth and economic development.
As a move to provide an environment that will ensure equal opportunity for wealth creation, create room for employment and reduction of poverty, the Abia State Cooperative Support Scheme has been set up to address the financial difficulties faced by small-scale business owners in both rural and urban communities. The focus is on enhancing business awareness at the grassroots level, recognizing that this approach is crucial for combating endemic poverty and addressing our worrisome unemployment rate. The selected beneficiaries for this batch include farmers, petty traders, and artisans from various parts of the state. The target is to directly impact approximately 100,000 businesses over the next thirty-six months.
The Abia state government remains optimistic that recipients of this benefit will diligently repay their loans, so that others can benefit too.
The scheme aligns seamlessly with the strategic development agenda for the state. Hence, the Abia state is committed to improving the welfare of our citizens at the grassroots level.
The administration rejects a scenario where a select few monopolize community resources while the majority wallow in poverty.
In the twitter handle, Hon. Ishmael Onuoha the cordinator of the scheme and senior special assistant to the governor on cooperative societies and the stakeholders were appreciated for their hand work in ensuring the success of the initiative.
