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In Abia Govt receives N1b agric loan from CBN

The state government has said that the funds will go a long way to help farmers carry out farming activities.

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Governor Okezie Ikpeazu of Abia. play

Governor Okezie Ikpeazu of Abia.

(Punch Newspapers)

The Abia state government has received N1b agricultural credit scheme loan from the Central Bank of Nigeria (CBN).

The state government has said that the funds will go a long way to help farmers carry out farming activities.

The Chief Press Secretary to the Governor, Enyinnaya Appolos also revealed that the government will be paying a single digit interest rate of 7 percent.

He said  “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.”

Also, the state Governor, Okezie Ikpeazu set up a committee, which will  be led by the commissioner for agriculture, Uzo Azubuike, to organise and oversee the disbursement of the funds.

Governor Okezie Ikpeazu on Wednesday, June 8, 2016, in Umuahia, launched the first phase of the state Urban Mass Township Taxi Scheme.

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