The Abia State authorities has earmarked N1 billion for an curiosity free revolving mortgage for 9,200 beneficiaries from the 184 wards beneath its cooperatives scheme.
The data and tradition commissioner, Okey Kanu said this when he briefed the media on this week’s Government Council assembly chaired by Governor Alex Otti in Umuahia, the capital.
He mentioned the scheme was in fulfilment of one of many 2023 marketing campaign guarantees of the Labour Celebration governor, describing it as a type of palliative and an empowerment programme.
“That is meant to assist nano and micro enterprise operators within the state. It’s meant to assist them of their companies,” in keeping with him.
“It is going to assist to ameliorate the difficulties the beneficiaries are experiencing of their companies because of the financial headwinds which can be presently affecting the nation’s economic system.”
“The brief, medium, and long run impacts of the scheme,” the commissioner additional asserted, “will little doubt have a salutary impact on the state’s economic system.”
His colleague of the ministry of finance, Mike Akpara, used the chance to debunk viral media experiences that he takes dwelling N10 million month-to-month from the coffers of the federal government.
“I wish to categorically state right here that the commissioner of finance doesn’t take dwelling N10 million month-to-month from the federal government’s coffers. It isn’t completed wherever,” he mentioned.
“I additionally wish to say that none of my colleagues take dwelling such large sums of cash. They mentioned some take N5 million, and a few others N3 million. However, there may be nothing like that.”
