Edo State Governor, Senator Monday Okpebholo, has announced the commencement of an interest-free loan initiative for traders across the State’s three Senatorial Districts, set to begin in January 2025. The announcement was made at the New Festival Hall, Government House, during a visit by the Edo State Association of Commodity Market Women and Men (ESACM).
Governor Okpebholo emphasized the critical role of traders in the State’s economic development, noting that the initiative would provide financial relief and business expansion opportunities without the burden of high-interest rates.
“Our traders are the backbone of our economy. Starting January 2025, we will provide interest-free loans to empower them and ensure their businesses thrive,” the Governor said.
The initiative is part of the administration’s broader economic strategy to enhance growth, stability, and improve the livelihoods of Edo citizens.
In a related development, Governor Okpebholo also unveiled plans to revolutionize agriculture in Edo State with the introduction of massive mechanized farming. Scheduled to commence in early 2025, the program aims to boost food production, create jobs, and ensure food security.
“Agriculture is vital to our State’s economy. By investing in mechanized farming, we will not only increase food production but also attract investments and create sustainable employment opportunities,” the Governor added.
Reacting to the announcement, the President of ESACM, Mrs. Josephine Ebhaguejeze, expressed gratitude to the Governor, describing the initiatives as transformative for traders and farmers.
“This is a game-changer for Edo traders and farmers. We pledge our support and loyalty to the administration and its economic reforms,” she stated.
Mrs. Ebhaguejeze also highlighted the potential of the initiatives to position Edo State as a model for economic revitalization in Nigeria.
The mechanized farming project is expected to attract partnerships with agricultural firms, bolstering the State’s capacity for large-scale farming and enhancing food security.
