Abia State Government has received the N1BN (One Billion Naira) Commercial Agricultural Credit Scheme Loan from the Central Bank of Nigeria (CBN).
According to a statement issued by the Chief Press Secretary to the Governor, Enyinnaya Appolos, the State Commissioner for Agriculture, Hon. Uzo Azubuike, and his Finance counterpart, Mr. Obinna Oriaku, confirmed receipt of the loan by the state.
The statement further affirmed that the loan is an intervention for local agriculture to ensure farmers in the state engage in all season farming.
Appolos, in the statement stressed that the loan is a single digit of 7 per cent interest with moratorium period of six months.
He also added that the State Governor, Dr. Okezie Ikpeazu, has setup a committee saddled with the responsibility of mapping out modalities for the disbursement of the fund to deserving beneficiaries, stressing that the fund will not be used for political patronage.
The statement reads, “Abia State Government has received the N1BN (One Billion Naira) Commercial Agricultural Credit Scheme Loan from the Central Bank of Nigeria (CBN).
“The loan is an intervention in local agriculture to ensure that farmers in the state engage in all season farming.
“The loan is a single digit loan of 7 per cent interest with moratorium period of six months.”
The statement further disclosed that the committee will be chaired by the Commissioner for Agriculture, Hon. Uzo Azubuike.
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