Friday, 18 May 2012

Abia gets 1b naira loan

Abia state government says it has accessed the sum of one billion naira agricultural loan from the Central Bank of Nigeria [CBN] for farmers in the state.

The state had used the state's monthly allocation from the federal government as collateral for assessing the loan.

Speaking with newsmen in Umuahia on the state executive council meeting, the state commissioner for Information and Strategy, Eze Chikamnayo said that the agricultural loan has been obtained and is now in the treasury of the government.

Chikamnayo said that the state governor, Theodore Orji has directed the state commissioner for agriculture, Ike Onyeweaku sensitise farmers in the seventeen local government areas of the state on how they can assess the loans.

He noted that the loan is interest free and meant for genuine farmers, stressing that the modalities and directives must be followed to the letter, so that the fund could be easily recovered to allow others have their own turn and help to increase food production in the state.

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