Abia receives N1b CBN Agric loan

The Abia State Government has received the N1 billion Commercial Agricultural Credit Scheme Loan from the Central Bank of Nigeria.
According a statement by the Chief Press Secretary to the Abia State Governor, Enyinnaya Appolos, the State’s Commissioner for Agriculture, Hon. Uzo Azubuike, and his Finance counterpart, Obinna Oriaku, confirmed receipt of the loan by the state.
The statement further stated that the loan is an intervention for local agriculture to ensure farmers in the state engage in all season farming.
Appolos, in the statement, stressed that the loan is a single digit loan of seven per cent interest with moratorium period of six months.
He also added that the State Governor, Dr. Okezie Ikpeazu, has set up a committee saddled with the responsibility of mapping out modalities for the disbursement of the fund to deserving beneficiaries, stressing that the fund will not be used for political patronage.
The committee will be chaired by Azubuike.