History was on Thursday 11th July, 2024, made in Abia when Governor Alex Chioma Otti OFR, officially launched the Abia State Cooperative Support Scheme and Disbursement of Credit Facilities to 10,000 Nano and Micro Businesses drawn from the 184 wards of the State.
The landmark event which held at the International Conference Center, Umuahia, marked the fulfilment of Governor Otti’s campaign promise to eradicate poverty to the bearest minimum by opening vast business opportunities that will deliver economic prosperity and equally build other levels of success through Government support to micro and small-scale entrepreneurs.
The interest-free loan as officially launched by the Governor captured 50 beneficiaries from each of the 184 wards that shall receive N100,000 support to grow their businesses, earn money to grow their families and contribute more to the economic growth and advancement of their communities and the entire State.
As explicitly explained by the Governor, “The Abia State Cooperative Support Scheme has been set up to simultaneously address the financial difficulties owners of of small-scale businesses in the rural and urban communities often face; and also send a clear message to everyone that the only way to draw the attention and support of the Government is by engaging in productive ventures.
“Thousands of the beneficiaries selected for this batch are petty traders, farmers, and artisans who have over the years toiled on their own without the kind of structured support that their peers from other parts of the world take for granted. The Abia State Government has now taken the bull by the horn and small-scale entrepreneurs in South Asia is also good for our people”.
Governor Otti also never mince words as he expressed optimistic and predicted a prosperous Abia through the sustainability of the State Cooperative Support Scheme; a segment of the holistic empowerment plan intentionally articulated in his blueprint for human capital and business development in the State.
“This scheme aligns perfectly with our strategic development agenda which is geared at improving the welfare of the general populace. Specifically, the projection is that the injection of about billion naira into the economy of the various communities in the State through the interest-free revolving loan scheme will ultimately lead to a jump in the volume of agricultural outputs brought to the markets in the short and medium, new orders for business inputs, and a measurable rise in the value of the gross domestic product of the local communities”, the Governor said.
Governor Otti was equally blunt when admonishing the beneficiaries. According to him, their ability to repay the loan would create opportunities for others to benefit.
“I believe that you shall not block the path for others by refusing to repay what shall be lent to you. Do not forget that even within your cooperatives, there are hundreds of others waiting in the line to benefit”, the Governor also said.
As the Governor also mentioned in his address, the State Government under his revolutionary leadership had in the last 13 months embarked on remarkable projects that enable trade and commerce such as the construction and reconstruction of long abandoned roads in Aba and parts of the State. As at today, economic activities had since resumed along the Porthacourt Road, Osisioma-Ekeakpara axis and other areas in the Enyimba economic city.
This is even as the Governor reconstructs other key and strategic roads to boost agriculture and open new frontiers of rewarding opportunities for millions of people especially in the agricultural sector. Recall that 300 Abians, just last week, returned to the State from CSS Global Integrated Farm, Nasarawa State, after a two-week intensive training on modern agriculture and agricultural value chain. The Governor during their graduation equally vowed to empower them to fully demonstrate their knowledge towards achieving food security and sufficiency in the State.
While commending Governor Otti for achieving this great feat which is expected to impact positively on the lives of the beneficiaries, it is neccessary to commend the team that packaged and fine-tuned the program. Notably among them are the Commissioner for Women Affairs and Poverty Alleviation, Ngozi Blessing Felix, the Senior Special Assistant to the Governor on Cooperative Societies, Hon. Ishmael Onuoha and a few others that may have served in the committee that planned and also overseeing the fund disbursement. This is no doubt a practical way of sharing prosperity and also creating wealth in the State.
Abia is indeed getting better under Governor Alex Chioma Otti OFR.
13th July, 2024.
