Abia Plans N1bn Infusion To Boost 9,200 Small Businesses

The Abia State government has earmarked N1 billion  for an interest free revolving loan for 9,200 beneficiaries from the 184 wards under its cooperatives scheme.

The information and culture commissioner, Okey Kanu stated this when he briefed the media on this week’s Executive Council meeting chaired by  Governor Alex Otti in Umuahia, the capital.

He said the scheme was in fulfilment of one of the 2023 campaign promises of the Labour Party governor, describing it as a form of palliative and an empowerment programme.

“This is meant to support nano and micro business operators in the state. It is meant to help them in their businesses,” according to him.

“It will help to ameliorate the difficulties the beneficiaries are experiencing in their businesses as a result of the economic headwinds that are currently affecting the nation’s economy.”

“The short, medium, and long term impacts of the scheme,” the commissioner further asserted, “will no doubt have a salutary effect on the state’s economy.”

His colleague of the ministry of finance, Mike Akpara, used the opportunity to debunk viral media reports that he takes home N10 million monthly from the coffers of the government.

“I want to categorically state here that the commissioner of finance does not take home N10 million monthly from the government’s coffers. It is not done anywhere,” he said.

“I also want to say that none of my colleagues take home such big sums of money. They said some take N5 million, and some others N3 million. But, there is nothing like that.”