Abia secure n1 billion agric loan


... Don't use as political patronage--gov.
UMUAHIA—ABIA State Government yesterday said that it has received a Commercial Agricultural Credit Scheme Loan of N1 billion from the Central Bank of Nigeria (CBN).

The State Governor, Dr. Okezie Ikpeazu has however warned that the loan should not be used as political patronage but must get to genuine farmers.

A statement from the new Chief Press Secretary to Governor Okezie Ikpeazu, Enyinnaya Appolos, said that the Commissioner for Agriculture, Hon. Uzo Azubuike, and his Finance counterpart, Mr. Obinna Oriaku, have confirmed receipt of the loan by the state.

The loan, according to him, “is an intervention in local agriculture to ensure farmers in the state engage in all season farming”, adding that “it is a single digit loan of 7 per cent interest with moratorium period of six months”.

The statement also said that Governor Okezie Ikpeazu has already setup a committee charged with the responsibility of developing the disbursement formula for the fund to deserving beneficiaries. The committee is headed by the Commissioner for Agriculture.


Enyinnaya further said that Governor Ikpeazu has warned that the laon should be used for political patronage but should go to genuine farmers.

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