Abia State Empowers Farmers with Interest-Free Loans: A Boost to Food Production

Abia State Empowers Farmers with Interest-Free Loans: A Boost to Food Production

In a bid to enhance food production and support agricultural development, the Abia State government has begun disbursing interest-free loans to 302 youths trained in various agricultural ventures. This initiative is part of the government's efforts to boost food production in the state.

According to Commissioner for Information and Culture, Okey Kanu, the disbursement process commenced after Governor Alex Otti approved the interest-free loans in September. The beneficiaries underwent training at CSS Global Integrated Farms in Nassarawa State, sponsored by the Abia State government in February.

The loan disbursement will be done in tranches, with each installment tied to milestones and the extent of work done by the beneficiaries. This approach ensures that the loans are adequately utilized and that the purpose of disbursing the funds is realized. Beneficiaries will not receive a one-time payment, but rather incremental payments as they progress with their agricultural projects.

The state ministry of agriculture will ensure that the disbursement follows due process to guarantee effective utilization of the funds. Governor Alex Otti's administration has demonstrated its commitment to empowering farmers and promoting agricultural development in Abia State.

This initiative is part of the Abia State Cooperatives Support Scheme, which aims to provide financial support to rural traders and farmers. Previously, Governor Otti launched a similar program, disbursing interest-free loans to 9,200 beneficiaries across 184 wards in the state.

By supporting farmers and agricultural development, the Abia State government is taking significant steps towards enhancing food production and promoting economic growth. The interest-free loans will reduce the financial burden on beneficiaries, allowing them to focus on cultivating their farms and contributing to the state's food supply.

The Abia State government's investment in agriculture is expected to have a positive impact on the local economy and food security. As the state continues to support its farmers, the benefits of this initiative will be felt by residents and the wider community.