By Jessica Osajie / Posted December 20, 2024
The Edo State Governor, Senator Monday Okpebholo, in a significant policy statement has announced a special economic intervention empowerment to bolster rapid development in State at micro-levels.
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The governor is offering interest-free loans to traders starting January 2025, noting that it is not only meant to alleviate financial constraints but also to encourage entrepreneurship and boost local commerce.
The plan to launch an agricultural revolution through mechanized farming is equally promising, as it aligns with the broader goal of diversifying the state’s economy and ensuring food security.
Governor Okpebholo announced the intervention initiatives on Thursday when he hosted members of the Edo State Association of Commodity Market Women and Men (ESACMWM), who came to pay him a congratulatory visit at the New Festival Hall of Government House, Benin City.
In his convivial remarks, Okpebholo emphasized his administration’s commitment to enhancing the livelihood of Edo citizens and ensuring sustainable economic growth through empowerment of traders, businessmen and women who play major roles in the economic development of the state.
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He explained that the interest-free loan initiative was aimed at providing the much-needed financial support to Edo traders to ensure that they had the resources to expand their businesses without the burden of daunting interest rates.
“Early in January 2025, we shall begin to provide interest-free loans to Edo traders. Our traders are the backbone of our economy, and we must support them with the needed capital to help boost their businesses and improve the state’s economy.
“The interest-free loans that we are starting next year in January will help empower our traders, enhance growth, development, stability, and improve the livelihoods of the people,” Governor Okpebholo stressed.
Outlining his administration’s plans to revolutionize the agricultural sector through mechanized farming, Governor Okpebholo said, “In the same January 2025, we are going to start massive mechanized farming in Edo State. We are poised to ensure that food is available to all, even in these challenging times.
“Agriculture is vital to our state’s economy. Investing in mechanized farming will boost food production, create jobs, and ensure food security for our people.”
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Responding, President of the Association, Mrs. Josephine Ebhaguejeze expressed gratitude for the governor’s initiative, noting that it would be a game-changer for traders and farmers in the state, and pledged the Association’s support and loyalty to the administration.
NOTE: Jessica is on Student Industrial Work Experience Scheme (SIWES) at DDNEWSONLINE.COM from the Department of Mass Communication, National Open University of Nigeria (NOUN).