By Valentine Amanze
Abia State government has received the N1 billion Commercial Agricultural Credit Scheme Loan from the Central Bank of Nigeria (CBN).
The state Commissioner for Agriculture, Uzo Azubuike, and his Finance counterpart, Mr. Obinna Oriaku, confirmed receipt of the loan by the state.
The Chief Press Secretary to the Governor, Enyinnaya Appolos, in a statement, explained that the loan was an intervention in local agriculture to ensure farmers in the state engage in all-season farming.
He pointed out that it was a single digit loan of seven per cent interest with moratorium period of six months.
The state’s imagemaker also disclosed that Governor Okezie Ikpeazu has setup a committee saddled with the mapping out modalities for the disbursement of the fund to deserving beneficiaries to ensure it is not used for political patronage.
According to him, the committee will be chaired by the Commissioner for Agriculture, Uzo Azubuike.