On Thursday, Abia State Governor Dr. Alex Otti will unveil the Abia State Cooperatives Support Scheme, aimed at empowering approximately 10,000 individuals with micro and small-scale businesses through an interest-free revolving loan program.
This initiative, promoted by the state government, targets men, women, and young people across various communities.
The beneficiaries, members of registered community cooperative groups, operate in sectors like agriculture, food and consumables, petty trading, and local crafts. Priority in this batch was given to women and youth with established businesses.
The scheme is overseen by Ishmael Onuoha, the Senior Special Assistant to the Governor on Cooperatives, who collaborates with community stakeholders and officials from Abia’s 184 wards.
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Beneficiaries are expected to repay the loan without interest within a specified period, allowing others in the cooperative structure to benefit. This revolving loan scheme aims to revive micro and small businesses that have struggled due to economic hardships.
Governor Otti’s administration hopes this initiative will foster business growth at the grassroots level, enhancing productivity and opening doors to greater opportunities for the people of Abia State.
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