Abia State Receives N1Billion CBN Agric Loan

Press Statement

1. Abia State Government has received the N1BN (One Billion Naira) Commercial Agricultural Credit Scheme Loan from the Central Bank of Nigeria (CBN).

2. The State's Commissioner for Agriculture, Hon. Uzo Azubuike, and his Finance counterpart, Mr. Obinna Oriaku, confirmed receipt of the loan by the state.

3. The loan is an intervention in local agriculture to ensure farmers in the state engage in all season farming.

4. The loan is a single digit loan of 7 per cent interest with moratorium period of six months.

5. The State Governor, Dr. Okezie Ikpeazu, has setup a committee saddled with the responsibility of mapping out modalities for the disbursement of the fund to deserving beneficiaries, to ensure it is not used for political patronage.

6. The committee will be chaired by the Commissioner for Agriculture, Hon. Uzo Azubuike.

Enyinnaya Appolos

Chief Press Secretary to the Governor

14/06/2016