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Otti Launches ₦1 Billion Loan Scheme For Abia State Entrepreneurs
Governor Alex Otti, Abia State, interest-free loans, micro-businesses, entrepreneurship, economic development, Abia entrepreneurs, loan scheme
Eko Hot Blog reports that Governor Alex Otti of Abia State has launched the disbursement of a ₦1 billion interest-free loan under the state cooperative support scheme for 10,000 nano and micro business operators across the state’s 184 electoral wards.
Speaking at the launch at the International Conference Centre in Umuahia, the governor emphasized that the initiative demonstrates the state government’s commitment to supporting its nano, micro, and small-scale entrepreneurs.
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He highlighted that beneficiaries, including traders, farmers, and artisans, were selected to foster wealth creation.
“Thousands of beneficiaries from this batch are petty traders, farmers, and artisans who have worked tirelessly without the structured support enjoyed by their counterparts elsewhere in the world. Our approach aims to boost production, create employment, and alleviate poverty.”
Otti, who said that the scheme aligned perfectly with the strategic development agenda of his government which is geared at improving the welfare of the general populace, said the target was beyond now while the projection is to boost the economy.
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“Our target is beyond the present number of beneficiaries, which is to reach about 100, 000 businesses directly over the next 36 months because we are optimistic that today’s beneficiaries will put in honest effort to repay the loans in time so that others can benefit.”
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