Abia State Governor, Dr. Alex Otti, has initiated a N1 billion interest-free revolving loan to empower 10,000 Nano and Small Scale Business owners across the 184 Wards in the 17 Local Government Areas of Abia State.
Addressing the launch, Otti emphasized that the Abia State Cooperative Support Scheme demonstrates the State Government’s tangible commitment to supporting nano, micro, and small-scale entrepreneurs. This initiative aims to elevate their success through leverage provided by public-sector initiatives.
The Governor expressed delight that 70% of the initial beneficiaries are women and young entrepreneurs who have demonstrated remarkable industriousness despite limited resources.
“Through this Scheme, the State Government aims to reach a minimum of 50 entrepreneurs in every ward within the next few days, providing crucial financial support to expand their businesses. This will enable them to generate income, support their families, and further contribute to the economic development of their communities.
“The Abia State Cooperative Support Scheme addresses the financial challenges frequently encountered by small-scale business owners in both rural and urban areas. It also sends a clear message that engagement and support from the Government are essential to foster economic growth.”
