Edo State Government To Roll Out Interest-Free Loans For Traders In January 2025
By Editor
The Edo State Governor Senator Monday Okpebholo stated this at the New festival hall where he addressed members of the Edo State Association of Commodity Market Women and Men(ESACM) who where on a Congratulatory vist from the three Senatorial Districts of Edo state.
The Govornor stated that his government will begin to issue out Interest-free loans to boost their business come January 2025.
Governor Okpebholo reemphasized his administration’s commitment to enhancing the livelihood of the Edo Citizens and ensuring sustainable economic growth through empowerment of traders,businessmen and women, knowing they play a pivotal role in the economic development of the state.
He further stated that the free loan initiative is aimed at providing financial support to Edo traders and enable them to expand their business without the burden of interest rates.
“Early in January 2025, we shall begin to provide interest-free loans to Edo traders. Our traders are the backbone of our economy, and we must support them with the needed capital to help boost their businesses and improve the State’s economy.
“The interest-free loans that we are starting next year in January will help empower our traders, enhance growth, development, stability, and improve the livelihoods of the people,” Governor Okpebholo stated.
Governor Okpebholo also outlined plans of his administration to revolutionize the agricultural sector through mechanized farming.
Governor Okpebholo said: “In the same January 2025, we are going to start massive mechanized farming in Edo State. We are poised to ensure that food is available to all, even in these challenging times.
“Agriculture is vital to our State’s economy. Investing in mechanized farming will boost food production, create jobs, and ensure food security for our people.”
President of the Association, Mrs. Josephine Ebhaguejeze expressed gratitude for the Governor’s initiative, noting that it will be a game-changer for traders and farmers in the State and pledged the Association’s support and loyalty to the administration.
She expressed the Association’s continued commitment to work with the Government of Senator Monday Okpebholo in driving economic reforms in the State.
“With this initiative, Edo State is on track to becoming a model for economic revitalization in Nigeria, paving the way for a prosperous future for all its residents. As the new programmes take shape, the State looks forward to reaping the benefits of enhanced productivity and financial independence for its traders and farmers alike.” she retorted.
The mechanized farming initiative is expected to attract investments and partnerships with agricultural companies, as it would further enhance the State’s capacity for large-scale farming and repositioning the economy of the state.