In a move that is set to revolutionize the economy of Abia State, Governor Alex Otti has fulfilled one of his key campaign promises by launching a N1 billion interest-free revolving loan scheme for nano and small scale business owners across the state. The scheme, which is designed to empower 10,000 business owners across the 184 wards in the 17 local government areas of the state, is a significant step towards boosting the economy of Abia State.
At the launch of the scheme, Governor Otti stated that the loan is aimed at supporting small business owners who are the backbone of the state's economy. He noted that the loan is interest-free and will be repaid within a period of six months. The Governor also stated that the scheme is a revolving loan, meaning that as the loans are repaid, the funds will be re-loaned to other business owners, creating a sustainable cycle of empowerment.
In addition to the loan scheme, Governor Otti also handed over 15 units of 18-seater Innoson Buses to the harmonized Central Taskforce to tackle touting, ensure a cleaner and safer environment, and ease of doing business in the state. This move is expected to enhance the security and cleanliness of the state, making it more conducive for business to thrive.
The launch of the loan scheme and the handing over of the buses are part of Governor Otti's efforts to fulfill his campaign promises and transform the economy of Abia State. The Governor's commitment to empowering small business owners and creating a conducive environment for business to thrive is a testament to his dedication to the development of the state.
The loan scheme and the buses are expected to have a significant impact on the economy of Abia State, creating jobs, increasing economic activity, and enhancing the standard of living of the people. The scheme is also expected to attract more investments to the state, as the business-friendly environment created by Governor Otti's administration continues to attract investors.